Forget that 40 million Americans have now become unemployed in the last three months. Forget the fact companies are going bankrupt, and GDP is down 5%. Forget the fact the government is in record debt. Stocks are rocking!
Why?
Some reports explain the rise in the stock market is due to the recent government bailouts. At this point, nothing makes sense. Government issues non-existent money to bail out bankrupt companies which saddle them with more debt, and that is seen as a good thing…
Meanwhile, numerous other nations are in the same boat. Record debt and they are bailing out their companies. We used to call that socialism, today it’s just another form of capitalism.
I can hear you, what other countries you ask?
Stimulus For The Nations!
The European Union which consists of 27 nations is set for another round of stimulus. IE: bailouts. When one round of stimulus is not enough, then pile on they will do. More debt equals more prosperity in the modern world.
Then add in Japan’s fresh stimulus package that comes in at a cool $1.1 trillion dollars! That would be a record by the way.
No matter the nation, they are all essentially doing the something. As in 2008, they will do today until they cannot save the system. Another day, the same sad story.
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So what are you to do with this information?
Get Out Of Debt
You should understand none of this will end well. This is not going away, this is not over. Ensure your family is financially stable, get out of debt.
With the small exception of a home, folks really should not have debt. I would even encourage people not to have mortgage debt, though I realize that is hard these days. Just remember to always buy within your means. You can sacrifice a little, it will not hurt you.
I can hear my Mom now, if you do not have the cash you do not need it.
Now that I think about it, God has a little something to say about lending and borrowing money.
The rich ruleth over the poor, and the borrower is servant to the lender.
Proverbs 22:7
When you borrow money, it makes you a servant. That would be a slave to the one you borrowed money from. No one should live as a slave. Yet, many of us do. We go spend more money than what we have and pay extra to have the things we cannot afford.
Deuteronomy 15:6
For the LORD thy God blesseth thee, as he promised thee: and thou shalt lend unto many nations, but thou shalt not borrow; and thou shalt reign over many nations, but they shall not reign over thee.