Aftershock the video, advice on financial survival

[boatyboy]

A percentage of the population have some savings or a pension to fall back on if times get tough in the future or maybe are just interested in holding on to what they have today

Hate it or love money makes the world go around and at the moment the Governments are finding it in short supply.

The problem is will we struggle further ? Should we take steps to protect whatever we have. I came across this very American video which in layman's language was very watch able even with the constant pushing to buy the book. It outlines Americas debt crisis and the old saying that if America sneezes the rest of the world catches a cold  after Lehman Brothers collapse could not be more poignant.

A bit long and sugary in places, but taught much about the dangers of inflation and it cost nothing to watch.

http://w3.newsmax.com/a/aftershockb/videonc.cfm?PROMO_CODE=CACB-1

BB

[man in the street]

 i quite liked that bb.
  plain straight , and easy to follow .
 and i belive it will unfold as the man states ,  a chap i know who  , just returned from china was telling me how much yankee debt china owned ,  and suprise suprise  heres a chap talking  about it.
some time ago it was said , that india would have  the same standard of living  as america , which , if this chap is right , is  on the cards as  the balance tips.
 i hope i become rent free buy the end of 2012.

[boatyboy]

It does makes a lot of sense " man in the street " there are basic formulas here that apply to all countries which are just a big business.

Then I thought, well if inflation rises so will interest rates which will help members of our society who have  savings.

Then reality struck, does anyone believe the inflation figure given by Governments?  not from what I have read, inflation is always higher. In Jersey they say its around 4% and you would expect bank interest to be about 4 may be 5. Look at the outrageous charges of up to 24% for your banks credit card charges and their loan charges.

Savers  are lucky to get 1% so if inflation does kick in because they are printing money, it does not follow that interest rates will help savers much, or have I got this wrong ?

BB

[man in the street]

 ah, bank rates , costs a bomb to borrow and  the buy it now card ( ok so long as it can be paid at the end of the month).
the bank phoned me the other evening , to try to rope  me in  to  a sure deal of 2% or 3%  for tieing up my cash for too long.
 i did ask the woman if she remembered  bank rates  in the eighties , i had a 30 day roll over  paying 10% at this time , and my deposited money paid my airfare  to head off for the winter.
 and told her, that  when the bank can offer a deal like this  again  , please write to me . other wise i will take my chance  with  ernie and the  premium bonds .
 and its cheap money with little or no check of abillity to pay( liar loans ) that  has us in the mess that we are in.
 apart from america living the  dream  that may turn into a complete nightmare .
  a book thrown out by our library  by vance packard called the waste makers , talks of  planned wastefulness  and  obsolescence in industry( america) and how  even in the fifties , it was all on credit ,  the home, the car  the furniture  the  lot, so little has changed i guess.