Jumpin Down

It is not an option to jump down from debt to non debt. You have to evolve into being nondebt. Therefore, prepare for the struggle because you're going to do it. You will not spend another dime beyond your means. When you do spend, you will only have one option. That being you do not spend all your means, but save them too. In doing so, you can begin to repay your debt.

You can figure out the technicalities of how exactly repayment is to be done. We have not a clue as to what your exact financial situation is. Therefore, evaluate your situation and do get in touch with your creditors. Perhaps you can negotiate a settlement. Always be polite and sincere in the matter. They want to help you, but you also have to be responsible with your spending and savings.

TRILLIONS LOST IN ARTIFICIAL NAKED SHORT AGAINST USD

The pattern of depression might just be around the corner. Our national economy is sitll not immune to the effects of a few greedy individuals. Consider the following, and be concerned. (link)

Apart from the $1.0 trillion worth of US currency held by the Chinese in their foreign exchange reserves, and lesser amounts held as official reserves with other key central banks, the Ambassador’s $4.5 trillion are the ‘only’ hard dollars cash available. Because of the impact of our last report 3rd December 2006, and in the context of the horrifying developments reported below, and other horrendous developments not reported here, the Chinese cannot even change these dollars into other convertible currencies on the scale that they need to do, if they are not to lose almost the entire value of them, when the US dollar collapses, as is about to happen.

Iranian Economic War?

Could this be the opening salvo in the economic war between Iran and America? We believe it is, and could start a trend of other countries, including China, to being reinvesting their foreign reserves in currencies other than the dollar. This article fresh from Tehran.

TEHRAN – Iran has decided to replace dollar with euro in its foreign trade given the continual impediments and hostile policies directed by U.S. toward the country, Iranian finance minister said on Monday.

According to ISNA, the would-be decision is also more attuned to existing trade volume between Iran and European nations, the country’s major economic partners, which is transacted through the ‘euro banks’. “Such inclination has been underlying part of our economic policy for awhile and our Oil Stabilization Fund (OSF) in dollar is at its lowest now,” Davud Danesh-Jafari continued.

Back in September, the head of the Central Bank of Iran (CBI) Ebrahim Sheibani had threatened that Iran would resort to dollar-to-euro conversion if the U.S. pressure continued. Moreover, the 9/11 event seemed to consolidate a tentative unanimity being formed on this matter among Iranian statesmen after the emergence of euro in 2000.

Experts believe that less reliance on dollar and conversion to euro may increase Iran’s financial flexibility and access to euro accounts would be easier if the U.S. chooses to impose a unilateral economic sanction on the country.

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The storms

Chilling if you think of the comparisons...meteorological patterns move in waves.

The Storms

In 1934 to 1936, three record drought years were marked for the nation. In 1936, a more severe storm spread out of the plains and across most of the nation. The drought years were accompanied with record breaking heavy rains, blizzards, tornadoes and floods. In September 1930, it rained over five inches in a very short time in the Oklahoma Panhandle. The flooding in Cimarron County was accompanied by a dirt storm which damaged several small buildings and graineries. Later that year, the regions were whipped again by a strong dirt storm from the southwest until the winds gave way to a blizzard from the north.

Declining US Economy

Read these signs of the times as being an indicator for why YOU should be getting out of debt, post haste. Debt is not a joke, ever. But being in debt when teh national economy is in debt and declining is definatly the worst of all possible worlds. A hard landing of the US economy might just be in the future.

According to the report issued by the US Council of Economic Advisers on November 21, the US Government has revised down the expected economic growth rate over three years - 3.1 per cent for 2006, 2.9 per cent for 2007 and 3.1 per cent for 2008.

The original projections were 3.6 per cent in 2006, 3.3 per cent in 2007 and 3.2 per cent in 2008.

The revision is obviously connected to the current sliding of the growth rate of the US economy.

After going through seasonal adjustment, the growth rate of the US economy in the third quarter of this year registered merely 1.6 per cent, a record low since the first quarter of 2003. The growth rate stood at 5.6 per cent for the first quarter and 2.6 per cent for the second quarter.

The likelihood of the US economy's making a hard landing increases against this context. Moreover, a medium-term stagnation could come in 2007. The expected growth rate could be downgraded further, taking into account the deteriorating economic situation.