To: ClearCase_guy
Your mortgage shouldnt be a problem. Lets say you have a fixed rate mortgage and pay $1500 a month on it. Well, with hyperinflation and a few paltry cost of living adjustments, you might find yourself earning $1000/hr. Now, given the skyrocketing price of bread, you may have trouble buying food for your family (at a mere $1000/hr, you may not earn enough to buy food) but that $1500 monthly mortgage payment? Pfffttthh! Not a problem. Don't be so sure. In the 1930s, the Supreme Court invalidated the gold clauses in contracts. Today, the courts will likely protect the banks by adjusting the outstanding mortgage balance by the rate of inflation. You will still owe the same amount in "buying power" but your income will not keep up with inflation. So... your mortgage will become MORE expensive to pay off. Banks will be protected to "protect the system." You will not be protected. Be VERY, VERY cautious about relying on this theory to pay off debt. Variable rate debt will destroy you and fixed rate debt will be converted to variable rate debt to protect the banks... Better to be out of debt all together...
63 posted on
04/12/2011 10:21:03 AM PDT by
April Lexington
(Study the Constitution so you know what they are taking away!)
To: April Lexington
If anybody tries to steal your possessions under color of law, shoot out their kneecaps.
64 posted on
04/12/2011 10:27:13 AM PDT by
agere_contra
(As often as I look upon the cross, so often will I forgive with all my heart.)
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