Already on ArticleSlash?

Forgot your password? Sign Up

Government Bailout & the Second Great Depression

Jason Allen Miller

Visitors: 226

How To Protect Yourself
Let's face it; we are now entering the Unites States of America's Second Great Depression. It will have devastating effects on the American people, businesses, and what is left of our growing economy.

This is not a minor problem that might limit your shopping sprees or your Starbucks coffee addiction. It is a major economic meltdown that will affect everyone and for those who are unprepared my find yourself unemployed, bankrupt, homeless, etc.

What do we have to do to protect ourselves in a crisis like this?

Follow these simple steps to reassure your survival in this bad economy.

1. You must find a means of making a secondary income or a full-time income that is worldwide, not just local, and has little to no overhead. Having a home-based business will create an income that is separate from your local economy with the advantages of having the worldwide market place at your finger tips.

2. You must watch closely at which bank you decide to put your money in; find a bank that has world wide locations or that is smaller with sound financial statements. At this moment the FDIC has exhausted its coverage abilities and may not have the funds to replace your savings if it was lost.

3. If you are getting ready to buy a new home, make sure that you could sustain the mortgage for up to 6 months with out a paycheck. Many people have already bombed this suggestion and their actions have created the housing crisis.

4. If you are a business owner or self employed, make sure that you are getting paid on time. If the payment is late, you should be implementing a more aggressive collection system. The last thing you want to do is let someone get a month or more behind, to find out that they just went broke.

5. If you are buying services on a regular basis from a company or person, make sure that they are delivering the services or product with the same quality. If any aspect of their service has changed it could be a sign of them going broke, and you do not want to be the person that paid for something and did not receive it.

6. If you rent an apartment or home, it would be an excellent idea if you watched for leans or signs that the landlord is not paying the mortgage. In repossession, you will be removed from the home when the property is taken back by the bank. This could leave you and your family without a home costing you several thousands of dollars; all while paying money to a landlord for months that he was just pocketing until the bank repossessed the building.

7. If you are an employee, beware of losing your job. If you are seeing sales decline there is a good chance that many people will be let go with no chance of returning. If you feel that you are irreplaceable and that somehow the business can not run properly with out you, think again. When a company is loosing money and needs to find a place to reduce expenses in order to continue conducting business, it is the employees who are cut first.

It is best to be prepared and learn how to protect yourself during times of economic trouble. Those take action and are prepared with fair best in the long run.

Jason Allen Miller is an entrepreneur, inventor, business owner, investor, speaker, educator and author. After college at the University of Wisconsin and a brief time as an employee, he decided to begin purchasing investments and owning businesses. He owns or has owned numerous traditional businesses and investments ranging from small businesses, real estate, franchises, home-based businesses and inventions, to large conglomerates with hundreds of employees.

Today he continues to write and educate people on the advantages of owning their own home-based businesses along with currently owning and operating many businesses in the Pacific Northwest. Besides the United States, his other ventures are in Canada, United Kingdom, Germany, Denmark, Japan, China, Taiwan, South Korea, South Africa, Australia and New Zealand.

His passion is business systems and education, along with helping people realize their dreams of becoming entrepreneurs. He is married with two children and spends most of his time in the Seattle Washington area. For more information go to:


Article Source:

Rate this Article: 
Government Grant - Great Way to Pay Your Off Bills and Eliminate Debt
Rated 4 / 5
based on 5 votes

Related Articles:

Government Bailout of AIG - Who Really Pays the Bill?

by: Colleen Rich (September 29, 2008) 

The Government Bailout Plan Rejected

by: Elaine Model (September 29, 2008) 

Review of Government Bailout and Cost of Living Increase

by: John Fagan Jr. (October 08, 2008) 
(News/Pure Opinion)

Seduced and Abandoned - How the Government Bailout Leaves Homeowners Hanging

by: Carla Douglin (October 19, 2008) 
(Real Estate/Foreclosures)

Bailout - Taxpayers and Ordinary Citizens Are Paying For the US Economic Bailout

by: Kenneth Sumerford (October 01, 2008) 

Great Depression Treatments - A Variety of Great Depression Treatments

by: John Gibb (June 17, 2007) 
(Health and Fitness/Alternative)

Great Buys and Finds at Government Auctions

by: Dean Novosat (July 22, 2007) 
(Internet and Businesses Online)

YWSO’s thought - Why Can’t Our Government Be as Great as Its People?

by: Paul Charles (August 27, 2012) 
(Real Estate/Agents and Brokers)

Cheap Seized Cars - Buy A Great Car From The Government Auction

by: Tim Lee (January 09, 2007) 

Government Grant - Great Way to Pay Your Off Bills and Eliminate Debt

by: Bryan Burbank (May 12, 2008) 
(Finance/Debt Relief)