I started this blog in June 2007 asking these questions: Are we in a massive asset bubble that will blow up in our faces ??? - ANSWERED YES ! Is western and particularly British society on the verge of social collapse??? What are the best common sense long term investment strategies to keep you rich? When will consumption/debt bubble economics end and a real savings/production economy begin ???
Friday, 14 December 2007
Financial Worry, Health, and the Reverse Wealth Effect As Housing Pops
It's been said that the difference between childhood and adulthood is financial worry. Children are of course troubled by family insecurity, but the gnawing weight of financial distress really eats away at the responsible adult(s).
As you have probably surmised, I know because I've been under extreme financial duress all too many times. (That goes with being self-employed in cyclical industries.) But financial worry can also arise from "death by a thousand cuts"-- small reductions in income and small cumulative increases in expenses which slowly work to bring household balance sheets into worrisomely negative territory.
The greatest source of stress is the loss of a loved one, followed closely by combat, divorce, the loss of one's job/livelihood/home/business, serious injury/illness and moving, i.e. "pulling up stakes and starting over." Unfortunately, the last three are intertwined with financial losses and worry.
more ...
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Check out the rest of this blog here.
As you have probably surmised, I know because I've been under extreme financial duress all too many times. (That goes with being self-employed in cyclical industries.) But financial worry can also arise from "death by a thousand cuts"-- small reductions in income and small cumulative increases in expenses which slowly work to bring household balance sheets into worrisomely negative territory.
The greatest source of stress is the loss of a loved one, followed closely by combat, divorce, the loss of one's job/livelihood/home/business, serious injury/illness and moving, i.e. "pulling up stakes and starting over." Unfortunately, the last three are intertwined with financial losses and worry.
more ...
------------------------
Check out the rest of this blog here.
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