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Sometimes while driving, I will listen to the Dave Ramsey show. Those not familiar--Dave Ramsey is a Christian-based financial advice program. People call in with their financial problems and Ramsey promotes his products that primarily relate to getting out of debt.
Ramsey considers himself as a glass half full kinda guy and believes even now that we are only in a slowdown and not even close to a recession. The other day a woman called and thought that the economy was heading for major disaster and what should her family do. Well ole Dave set her straight and told her that her premise was ridiculous. She was a pessimist and we will certainly bounce back and that she should pay off those credit cards and mortgage. But here is where Ramsey lost my respect and credibility. He said that if there was a depression it should be a time of great opportunity and that more millionaires were made in the last depression then at any time in history. Is that what the Christian perspective should be about. Making sure the thieving banks are paid and looking forward to taking advantage of others during a time of dire need.
My suggestion would be, if you are in a serious financial bind, give yourself a bailout. First do not pay your credit cards. Your credit is probably shot anyway and any money sent to the banks would be misused. Don't be bullied. The banks are too busy trying to survive to come after you. Don't pay your mortgage. It will take them at least 2 years to foreclose and if you make them produce the original note, then it could take forever. Use any extra cash to buy survival products, such as canned goods, water purifier, toiletries, generator etc. When the $hit hits the fan and it will, the only thing worth something are absolute necessities and things you can barter. Money will be kindling and credit cards will be landfill.
Although Dave Ramsey has probably helped many people get out of debt, his attitude is one of capitalism first and the individual second. I think in this financial climate He would better serve his listeners by informing them on how to survive. We know the government won't.
