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Sadly, most folks today don't have sufficient resources
to bounce back during an Economic Collapse.
College loans hold back the young from home purchase, or even rental housing.
Car payments are based on credit report, whereby many are already 'under-water'.
Middle income folk are trying to live from paycheck to paycheck, with little 'in reserves'.
Older folk are trying to prepare for retirement, trying to maintain current lifestyle.
The oldest folks are fearful of going bankrupt due to medical issues,
since bankruptcy will not cure outstanding medical bills, which will get passed down to their heirs.
Yeah, a firm foundation in family, along with faith and hope in a loving God
will allow you to persurvere and thrive despite the hard times.