Shocking New Survey Finds Most Americans Are Completely Unprepared for The Next Recession
The comments below are an edited and abridged synopsis of an article by Michael Snyder
Most Americans are living on the edge financially, so any sort of an economic downturn will hurt. During the last recession, millions of Americans lost their jobs, and because most of them were living paycheck to paycheck, many couldn’t pay their mortgages. Millions lost their homes during the subprime mortgage meltdown, and today the housing bubble is even larger than it was then. Many are only scraping by, and that is a dangerous position to be in.
A new survey shows that, for nearly 60% of Americans, the priority each month is either finding a way to pay the bills or dealing with credit card debt. These people are not ready for the next recession.
The same survey discovered that a large percentage of Americans are not following any sort of a financial budget. Many spend money whenever they feel like it, and they don’t have a plan for their finances.
It is so important to take charge of your money and to have a plan for where you want to go financially. If you don’t have a plan, somebody else does. It is easy to fall victim to financial predators. The big financial institutions like Americans to get into as much debt as possible, because the deeper they are in debt, the more money can be made.
Everything is about extracting as much money out of people as possible. And most of the money that is extracted from us ultimately ends up at the top of the financial pyramid, and the gap between the haves and the have nots continues to grow.
The way the system is structured greatly favours Wall Street, the big banks, the largest corporations, and those with enormous amounts of money. And they are able to maintain control of the system by buying elections and controlling public opinion through their control of the mainstream media.
Big government is never the answer. Sadly, the US already has the biggest government in the history of the world, and many Americans seem determined to make it even bigger.
