Are You Ready for the Fading of the Mirage Economy?
Our mantra is to take it personal - and that includes matters involving economic significance. The fact is that too many American households are living way beyond their means. The primary reason for this behavior is the availability of easy credit. Folks are buying more house than they need, because of easy credit. People are buying more cars than they need, because of easy credit. Many are buying more TVs, power tools, apparels, and etc. than needed, because of easy credit.
Link to Steven Pearlstein’s article in Washington Post
All these excessive credit can’t sustain forever. The typical American households are going to have to scale back immediately. They will need to downsize to smaller houses, so that it costs less to heat, to cool and to maintain overall. They will need to downsize to smaller cars and fewer cars, so that it costs less to fill-up. Regardless of whether you wish to be in denial or not, higher oil prices are here to stay.
Be prepared to pay more for practically everything across the board - airfares, shipping/transporting packages, groceries, electricity, taxes, insurance, and so on. Businesses are passing on the increasing operating costs to the consumers. Government agencies are passing on the increasing operating costs to the public. As the consumer, you need to have the ability to afford all these additional expenses. You need to take it personal, and to be ready in advance. Do not wait - Do not delay - The time was yesterday to be prepared for the fading of the mirage economy.
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