|"It can't get any worse" Wrong|
In 2010 America owed more money to other countries than ever before. More people lost jobs and couldn't find a replacement job in their former career or even at Taco Bell. Lots of people were foreclosed on-and the number of foreclosures for 2010 won't be fully reconciled with until mid 2011 when the halfway mark is finally reached.
More people have no health insurance-fewer people have retirement savings and can't count on their homes for retirement anymore because they are worth 30% less in some areas. More people are on food stamps than ever before-some 43 million and growing. More people are doubling and tripling up in homes not yet foreclosed on and the ones that can't do that are living in their cars until they get repossessed. Everyone else is either homeless or dead.
|Real Money is not Play Money|
Now the states are crumbling-unable to function without borrowing and Republicans have yanked that safety net by refusing to extend the bonds program. Unable to borrow -states will be forced to default.
Sadly caught up in insanity of unsustainable growth they didn't stay within their budgets-borrowing from tomorrow to pay for today-as have so many regular Americans living the American scheme.
So don't feel too bad about your own pathetic situation-you were only doing what you have been brainwashed to do-you were just being a good consumerist droid. Hopefully now you can step back, come out of your coma and start over with a clean slate.
Clean Slate tip #1
Admit you are poor. Too many of the former middle class are in deep denial that they are actually-in reality nearly or already poor. (Gasp)
|How the banks see you|
Which nice car gets parked and which one gets driven- Since you can't afford insurance for both (or all three) anymore.The everything cable package turns to extended basic-finally to just basic.Starbucks fresh ground turns to Folgers canned ground-with a little Safeway Select added in between and you find yourself picking through clearance cuts of meat just like the people on food stamps do. (egad!)
Cell phones minutes get reduced to help offset the cost of gasoline.
Little by little the empire shrinks and the only safety net left is the unused balance left on a charge card. When the quality of the food has gone down to make affordable meals-you have arrived at reality and the only question remains-so what are you going to do about it?
Prepare for the worst case scenario
In two years time many of the worlds leading economic experts have mentioned that our current economic crisis is the tip of the iceberg with another Great Depression looming in 2011.Names like Alan Greenspan-Ben Bernanke-George Soros-Frederick Mishkin-Joeseph Stieglitz-Paul Krugman and Paul Volker just to name a few.
California has raised tuition fees 32% and Arizona has sold its state Capital and Supreme Court buildings to investors and are now leasing them back. California-the 8th largest economy in the world has a $25 billion short fall. Texas has a $10 billion short fall-Illinois $15 billion-New Jersey $10.5 billion-Arizona, Oregon, Colorado, North Carolina, Connecticut, Louisiana, Mississippi, Nevada, and Virginia all have short falls from $1.2 billion-$3.8 billion and could default sometime in the coming year. Many of these states can't slash anymore from their budgets without it affecting essential services like public works, police or fire departments.