Mike Shedlock dishes out a dose of common-sense advice to his readers. What he's saying sounds remarkably like what I'm in the process of saying. Cut to the chase here.
A few excerpts:
"The best way to avoid drowning in debt is to not get into debt in the first place. Those who are in debt should attempt to get out of it as quick as they can. The way to do this is simple: Live within your means or better yet live below your means."
News flash...
"Just as the housing problem spread from subprime to Alt-A to prime, job losses are highly likely to spread from housing, to commercial real estate, to retail. To protect oneself from a loss of income, it is imperative to have actual cash savings in a money market, short term treasuries, or short term CDs. Those barely able to make home payments now and who have no cash savings, will be in serious jeopardy if they lose a job. Don't be one of them."
This finance guy even takes on grocery shopping...
"Food prices seem to be soaring. Get an electrically efficient freezer and buy what's on sale. Food can easily last three to six months or longer, if properly wrapped in plastic and/or freezer paper. My parents did this. Mom would buy what was on sale, dad would wrap it in freezer wrap and label and date the package. It seems to be a lost art."
Mish usually writes about more technical stuff, so I was amused to see him break into housewife mode. His readers regularly recommend stocking up on gold and ammo. But Mish is not that extreme. He also co-authors an investment newsletter that I happen to subscribe to.
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