Get Rid Of Debt Before The Major Economic Adjustment Happens

The handwriting is on the wall. Yes, the stock market is strong, but it is being propped up by a small percentage of traders who are doing well. The economy is not doing well. Unemployment numbers remain mired in record-breaking highs. The real estate market is crashing. Construction trades are being destroyed. Credit is shut down for most and taxation will rise. Costs are going up. Medical care and insurance prices continue to increase. Obama keeps spending money he does not have, forcing higher taxes to cover now and in the future. The economy is bleak at best.

We cannot sustain all this negative pressure indefinitely and the Occupy Wall Street movement is the forerunner of the trouble that is coming. The 1% is doing great and the other 99% is footing the bill. This cannot – and will not – go on forever. When this crisis boils over there will be a period of time when all financial aspects of our business economy will go to hell.

You must prepare for this now and the best way to prepare is by ridding yourself of debt – all debt, but especially unaffordable debt. When the markets crash and people stop buying anything other than necessities, any debt will be unaffordable. Do the workout now, prepare for the inevitable. The debt we are carrying as a country, on our homes with upside down mortgages and on our businesses will be our demise. Those who rid themselves of debt will be able to survive. Those with too much debt (or any debt) will be unable to support it and will succumb to the great adjustment that is bound to happen.

When, I cannot tell, but soon enough to begin preparing now. If I am wrong, so what? The fact remains, unaffordable debt today is the death knell of too many businesses as “unaffordable” means it cannot be supported with today’s reduced revenue.

Do the debt workout as soon as possible. You will not regret it. In fact, it is the only way you can survive, emerge and prosper again.