“Money saving web site LifeInsuranceCompare.net warns that 2010 may mark the start of an even deeper global recession according to financial analysts. It urges consumers to start setting money aside as a precaution against the worst case scenario....”
Web Site LifeInsuranceCompare.net Warns 2010 May Mark The Start of an Even Deeper Global Recession
|
||
|---|---|---|
Date: |
Mon, 24 May 2010 13:51:15 GMT |
|
Publisher: |
MarketplexNetPR |
|
Web Site: |
||
Email: |
||
Country: |
 |
|
Views:
|
13 | |
| Press Release: | ||
| . | ||
|
Friday, 21 May 2010
Money saving web site LifeInsuranceCompare.net warns that 2010 may mark the start of an even deeper global recession according to financial analysts. It urges consumers to start setting money aside as a precaution against the worst case scenario. Despite the positive messages coming from government sources and the hesitant signs of a recovery on the financial markets many leading forecasters are predicting extremely difficult times ahead with some going as far as to suggest the global economy may be heading for a total collapse. Others predict chilling scenarios including war or even martial law. With the worlds national economies all closely interlinked due to globalisation a crisis in one country could spread rapidly across the globe. The effect of Greeces debt problems on Europe is evidence of this interdependence and Greeces economy is only one sixth the size of the UKs. How would Europe cope with a major economy failing when it was stretched to the limit dealing with Greece? However the forecasters are suggesting the real threat again lies with the American economy. You are witnessing a fundamental breakdown of the American dream, a systemic breakdown of our democracy and our capitalism, a breakdown driven by the blind insatiable greed of Wall Street: Dysfunctional government, insane markets, economy on the brink. Multiply that many times over and see a world in total disarray. Ignore it now, tomorrow will be too late. - Wall Street Journal, February 2010 Peter Schiff, famous for accurately predicting the crash of 2008, puts it this way. My gut is that the dollar sell-off will be sharp and swift. Once the dollar decisively breaks below last years lows, many of the traders who jumped ship in the recent rally will look to re-establish their positions. This will accelerate the dollars descent and refocus everyones attention back on the financial train-wreck unfolding in the United States. LifeInsuranceCompare.net suggests steps the average person, who may be ill prepared to meet the challenges of a serious global financial downturn, can take right now in preparation. Consumers must save wherever possible even though it is becoming harder to set money aside due to rising inflation. The first items to go should be expensive luxuries such as alcohol, tobacco and other non-essential goods and services. Putting aside the money normally spent on luxuries can grow a cash reserve at a surprising rate. Dont necessarily keep all the money in a bank, keep an emergency amount well hidden at home in the event the banks close their doors. Reviewing existing financial arrangements is also a good tactic. For example, if you arranged your life insurance some time ago it is very possible the premium you are paying can be reduced by shopping around and taking advantage of ever cheaper policies. Insurance comparison web sites are a good place to start and will quickly show if you stand to make a saving. Go online now and check if you can make savings on your insurance, your energy bills, your credit cards, your cable subscription, your telephone, consider everything and write down the total amount you could save each month. If the worst should happen you will be prepared and if nothing happens then youll have some savings which is what we all should be thinking about after decades of building debt that has led us to the brink of financial ruin. Its time to save. About LifeInsuranceCompare.net LifeInsuranceCompare.net is an online money saving web site offering information about life insurance and access to life insurance comparison services from reputable and regulated insurance companies that help people quickly find competitive life insurance deals. Contact: LifeInsuranceCompare.net Email: media@lifeinsurancecompare.net |
||
 |
Printer Friendly Version |
|