For years I have been saying that people should become debt free. I have talked about something bad happening like you losing your job, a catastrophe happening, an illness, or other things that would cause financial ruin. I doubt that anyone took my advice. Now the worse has happened and it is causing a huge amount of problems.
I also said that the federal government should stop borrowing money and start paying down our national debt. Did the government listen...NO. They kept borrowing and now they may be borrowing another two trillion dollars or more to take care of those that lost their jobs.
I have also been predicting that the USA would go into a major recession or even a depression and we have and it is within my predicted time frame. I have said over and over that it will happen and not if it will happen. In 2008 during the last major recession, I said that it would be over and we would get back to normal. I also said that it would not be the big one that I predicted. This one also may not be the big one but if it is not then it is still around the corner. For those that took my advice and became debt free, they should be riding out this recession with no problem.
Again we are relying on the government to pull us out of it just as we did under Bush, Jr. and Obama. Now we are relying on Trump to pull us out of this one. He may pull us out but what we are doing is putting us another couple trillion dollars deeper in debt which will make the big one even worse.
I am not trying to make everyone even more scared then they are now or to brag that I was right again. I just want people to become debt free so they can ride out this and other recessions. Yes, I took my own advice and am debt free. I am riding this out with no problems. If you had taken my advice years ago, you too could be riding this out with no problems. The government can not do everything for everyone.
It is not too late to make changes like selling your expensive vehicle and switching to a far less expensive form of transportation. You can spend less then you earn. A few years ago I wrote how you could save money. I wish that I still had that list but it is on an old computer. I would love to post it again.
Insert date: 2020-03-22 Last update: 2020-03-22