How do you prepare for the fiscal collapse of the major superpower in the world, especially when you live there?
Canada has run a surplus federally for more than a decade. Our debt from before that is shrinking, albeit slowly. We're not in any danger of going belly-up ourselves. Yet when the U.S. collapses, we won't be far behind, because our economy is tied so tightly to the American economy.
Honestly, I don't think it's possible to be prepared for the collapse. But I've been saving, unlike a fair percentage of the population. It might not help, but at least I haven't been busily sinking myself into debt, and sacrificing my financial future for right now.
It might only make the difference between sinking with the Titanic or dying of cold waiting for rescue, but it's all I can think of to do.
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velvetpage) wrote2006-12-21 01:37 pm
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Canada has run a surplus federally for more than a decade. Our debt from before that is shrinking, albeit slowly. We're not in any danger of going belly-up ourselves. Yet when the U.S. collapses, we won't be far behind, because our economy is tied so tightly to the American economy.
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It might only make the difference between sinking with the Titanic or dying of cold waiting for rescue, but it's all I can think of to do.