Quote:
Originally Posted by Crowbob
The financial advisors say get out of debt to protect yourself. From whom? From what? What good will cash be?
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As it has been said here, there are various levels of meltdown/collapse that could occur.
I assume the financial advisors say to get out of debt so that if you lose your job, you'll own a place to live... and a means of transportation.
If you can't pay off your home and vehicle without extreme belt-tightening before this collapse, just be prepared to deal with the bank taking these things away from you... and you can either rent a smaller place (if you can afford that) and buy a less expensive car to get you by.