Friday, December 30, 2005

Why Are Companies In Such A Rush To Put Americans In Debt?


I don't watch much television these days, but when I do I can't help but notice the increasing amount of payday and title loan commercials which seem to come on the tv screen every 15 minutes. If it isn't a commercial about a payday or title loan, its about financing for a car or computer. Why does it seem companies are in such a rush to put Americans in debt?

I was at my local bank recently and posed a question to the teller. I asked her if she knew of a way for me to convert my money into gold or silver. She looked at me like I was speaking a alien language and told me she had no idea. When I check my mail I seem to get flooded with offer after offer for credit cards from a variety of different companies.

It is a fact that the average American owes eight thousand dollars in credit card debt. Add to this the fact that the government passed a law in October making it difficult for people to file bankruptcy in order to get out of financial trouble.

Add to this the fact that earlier in 2005, banks begin making plans to double the amount of credit card monthly payments. Combine this with a weakening economy where the dollar is losing its value and American jobs are being sent overseas, and you have a recipe for financial disaster. Alan Greenspan predicts the housing market bubble will "burst." When you owe someone money, and cannot easily pay it off, you are a slave to your debt.

Yet most Americans are completely in the dark. Spending was at a all time high this holiday season, with Americans spending record amounts on their credit cards. Credit card companes like Discover and others were in a rush to give people cards so that they could do their holiday shopping.

But just because someone gives something to you doesn't make them benevolent. Americans are sheep getting fattened up for the slaughterhouse. The economy is going down the drain, and only the most alert and cautious are aware of it.

It is easy to see that we could have another 1939 Great Depression here in the US all over again. And like the first Great Depression, this depression will be orchestrated and planned by central bankers who have gained control of the money system in the US, and thus the economy.

I'm not a psychic and I can't predict the future with 100% certainty. But here is a list of what I'm planning do to in order to protect myself financially and you may want to consider doing the same:

1. Pay off all your credit cards and debt as soon as possible.
2. Avoid getting large mortgages which you do not have the ability to easily pay off. If you want a house, look into getting a foreclosed home.
3.Save your money and begin buying gold and silver. Lots of gold and silver.
4.Avoid payday loans, title loans, and any other loans which will put you into debt.
5.Reduce your standard of living.
6.Avoid paying retail value for cars, clothes, jewelry, electronics, and other items which rapidly depreciate in value. Only pay wholesale.
7. Save as much money as possible. Avoid living "paycheck to paycheck" at all costs.
8.If possible, consider starting your own business. People tend to do better when they work for themselves.

That is my financial advice for the future. I'm going to take my own advice and I hope you do to.