Q & A. Global Financial Crisis and you.

As to your questions. 1) My bank is safe. I use a locally owned bank that has been in the same family for several generations and has consistently done very well in the government mandated inspections of their assets. There is no danger of outside interests manipulating or controlling the bank to rip off its assets. The people in control are long time members of our community. 2) Everybody's saving are at risk because of the loss of value of the US DOLLAR. That means even if one is in no danger of actually losing their money, the money is losing its power to purchase as much as before. It is the same as losing a substantial portion of your savings. I try to explain this to people and get looked at like I'm crazy for my trouble, but the fact of the matter is that the US economy is on the cusp of hyper inflation. At the very best, the US economy is only going to experience very bad inflation as opposed to hyper inflation. 3) I am a life long student of market behavior. Therefore, I saw this coming decades ago. Appropiately so, my wife and I started living completely within our means and retired all our debt, including our mortgage, a long time ago. The only down side I've ever had from this is a real estate agent getting very frustrated at me because she insisted I could and should buy a more expensive house. If all I could afford was a tent or a used camper travel trailer from the 1960's, that is what I would live in. Everybody should have this attitude. What mortgage? 4) The financial crises and the economy are pretty much the same thing, but in the sense you mean the question, yes, it will make the economy worse. 5) My job is not at risk. I won't fire myself, only cut my pay, no matter how bad things get.