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IF YOU HAVEN'T DOWNSIZED YET ~ IT MAY BE TOO LATE.
If you haven't downsized your living standards yet ~ it may be too late ~ for the perfect storm of mortgage sub prime debt, personal debt and credit card debt are all simultaneously converging with a collapsing dollar and rising inflation to produce the mother of all recessions, if not a major depression in 2008: Allen L Roland
Earlier this year I wrote the Joy of Downsizing http://blogs.salon.com/0002255/2007/02/18.html in which I shared my joy of getting rid of things I did not really need, settle my debts, and greatly simplify my life in anticipation of a major economic downturn in 2008 which would effect the whole country ~ if not the world.
In August of this year I posted the Sub-primal Scream http://blogs.salon.com/0002255/2007/08/16.html in which I predicted that as much as $1.4 TRILLION of mortgages in the U.S. was at risk of default, or at best, falling into late payment status and the ripple effect was hitting the big players, the small players and overseas ~ but the common denominator was greed and this bubble would soon burst.
Now we are there and the stock market has yet to fully guage the depth of the recession that lies just ahead of us ~ so If you havn't downsized your living standards and got a handle on your debts yet ~ it may be too late, for the perfect storm of mortgage sub prime debt, personal debt and credit card debt are all simultaneously converging with a collapsing dollar and rising inflation to produce the mother of all recessions, if not a major depression in 2008.
This is not the time to be wishful thinking about the stock market and the economy. The signals are all blinking RED and if you havn't downsized and prepared yourself yet ~ it may be too late.
Allen L Roland
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