Credit Crisis is not a buzzterm, it’s a reality.

It all seemed so easy.  6 months no pay on the washer/dryer…charge it!  New Plasma?  Charge it.  Bigger house, defer and amortize it.  Money has never been so easy to borrow and as a result, it was.

Yet with expolding economy, many people who were extended one month suddenly had that negative made up in terms of net worth the next.    So what was one to do?  Borrow again.  Bigger house, latest SUV, new TV…then…crash.

It seemed to happen so fast.  Many felt without warning.  To even the most casual economist the warning signs were there.  High commodity prices, a long bull market, a war, high gas prices…the list seemed endless.  How then did so many people ignore the little boy crying wolf? 

So now what.  What do you do?  What type of loan should a person take?  What do you do about your credit cards? Should you refinance?  What about that house that’s now worth less than you paid for it?  Walk away?  What will that do to your credit?  How can you recover lost income in your 401k or RRSP?  All very valid questions with very needed answers.  In this blog I will seek to provide a wealth of information to the average investor.  Links to great books on the topic, other blogs, other sites.  I will seek to provide you, the reader, a vast intricate blog to help steer you in the right direction.  Since I have just started, check back often for updates and information.  I can assure you, each stop will be worth it!