Get Out While You Have A Chance

If you are currently holding any type of variable rate mortgage or interest payment, get out now. Don't wait or you'll be seriously screwed.

Opinion: "When a country lives on borrowed time, borrowed money and borrowed energy, it is just begging the markets to discipline it in their own way at their own time. As I said, usually the markets do it in an orderly way - except when they don't."

I'm serious about this. No variable rate mortgates or balloon payments. No credit card debt. Do anything you can to take care of this now - don't wait, I mean in the next few weeks and months.

Could you handle it if your mortgage payment shot up three or four hundred dollars a month? What about your credit card payments, your car loan?

Higher interest rates would be good for me, but not for most people. What if your home loan was at 18%? It's not been that many years ago that they were that high.

Listen. The sky is falling. Seriously. I don't know who reads this stuff, but it's important.

Oh, and for your reading pleasure and edification, see The Black Obelisk.