Minicast Episode 20: Why Debt wont Dissapear in a Collapse

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debt-burden

This Minicast is in response to some things i have heard around the Prepper community, on forums as well as in emails to me.

Most of them involved the sentiment of…”Well I think the collapse is happening in the next 6 months (or a future date), so I am going to load up my Credit Cards with storable food and other stuff, because when the collapse happens their wont be anyone to collect the debt anyways!”

This is problematic in many different ways, most notably, no one knows when the financial collapse will finally happen, so if you load up your credit cards with all this debt, what happens when the collapse doesn’t happen for another 2 years? you will end up being in a  worse place than you started.

I elaborate further on different scenarios and more reasons why this is a bad idea.  Bottom Line, dont do this, its stupid.

 

 

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