I have held off on commenting on the stock market until today.
Here are my thoughts on the economy …
- We can't borrow our way out of it.
- We are here because of debt and loans made to persons who had zero ability to repay.
- If this is what it takes to make America start planning their spending, saving money, and having a plan for its future, then bring it on. I'm OK with my generation paying the tab and delivering a balanced-budget, low-taxation, and zero debt government to my daughter and the next generation.
- This is yet another reason why I am a HUGE fan of diversified investments, being 100% debt-free, and holding a well-funded emergency fund.
- God is bigger than the US economy.
What can the average American do?
- SAVE money
- Eliminate debt – Calculate your Debt Freedom Date HERE
- Prepare and live by a written spending plan – Prepare your budget HERE
- Help a fellow neighbor