Just wondering, if hyperinflation does hit then wouldn't being in debt not matter?
What's $40K when you can pay it off with our equivalent of
So wouldn't it be better now use the money you would have used to pay your debt and use it to buy gold, guns, etc. instead?
I’m with you ,, party like it’s 1999 ,,, use up every ounce of credit you have but use it to buy essentials... whether we have deflation of hyperinflation the result is the same , financial devastation ,, and you’ll want that pallet of quaker oats , the cast net and the .22 rifle with scads of ammunition... having a bad credit score just won’t matter. I posted a similar Zimbabwe photo a few hours ago with a man carrying an armful of notes to the market...
its scary....I worry more for our kids though....
I’ve agonized over the whole hyperinflation thing, as clearly being out of dollars and in commodities (and debt) is what to do if that hits.
But I keep coming back to the thought that if wages don’t also rise as inflation goes up the economy implodes anyway, as no one can buy anything as prices badly outpace their earnings. And wages can’t rise much, because of the global marketplace and the ease with which jobs can be relocated to a cheaper labor market.
So, IMHO we’re headed for a deflationary depression, eventually, once Bernanke and Friends fail at inflating the enconomy. And for one of those you want to be in cash.
I do reserve the right to be wrong, and to remortgage the house ;).
LQ
That is my problem. I am coming into some money. I was going to use all of it to eliminate all my credit cards but am going to reserve 10k for guns, ammo, seeds, MREs, and misc supplies.