▼ Show Notes
In this episode of Relentless Truth, I discuss changes in the economy that have occurred, are occurring, and are likely to continue to occur. I discuss consumer credit, the challenges with Americans taking on record consumer debt levels, and the challenges of record interest rates on that debt. I explain the inverted yield curve, inflation, GDP, the national debt, and other important issues that impact you and your family.
Preparation for Economic Downturn
I discuss the preparation for a continued, even protracted economic downturn that is necessary. My recommendations include saving a year of your household expenses, reducing or eliminating debt, adjusting vocationally, and minimizing lifestyle related expenses among other strategies that might be helpful to you and your family.
Our government often, in an attempt to solve an economic challenge, exacerbates the downturn, and I believe that is what they are doing today. I long for a Congress that addresses our budget deficits and national debt in a serious manner. I believe that the “economic stimulus” and “aid packages” approved by our government in recent years are damaging to our economy in the long term, and I believe that we will soon face the consequences of many of those decisions.
I’m grateful that God is on the throne, and I’m thankful that we can pray and trust Him during these challenging times.
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