Editor: Crass Cash
Now you might think it's great that it's now a third cheaper to fill up your car, but let me explain to you why this is becoming a problem that will affect everybody.
Shale drillers (frackers) have become highly leveraged to the tune of $550,000,000,000. That's over half a trillion dollars! They were stretched the hilt before energy prices fell, now they're really fucked!
So what thought, right? Their problem not mine! Well if they start going bankrupt like dominoes then it will impact you because banks will go through some very hard times. When banks go through hard times they stop lending money. When they stop lending money the economy goes into a recession. When we go into a recession people lose their jobs.
That's how the stupidity of bankers can affect you.
On top of this, the Federal Reserve is probably going to start raising interest rates next year. Great for you, right? More interest in my savings account! This is another way that a recession could start. The more it costs companies to run their businesses the more likely they are to go bankrupt. See how this cycle perpetuates?
Get your emergency fund topped off and if that's pay down as much debt as possible. The more debt you can retire the less financially fragile you'll be.
Shale drillers (frackers) have become highly leveraged to the tune of $550,000,000,000. That's over half a trillion dollars! They were stretched the hilt before energy prices fell, now they're really fucked!
So what thought, right? Their problem not mine! Well if they start going bankrupt like dominoes then it will impact you because banks will go through some very hard times. When banks go through hard times they stop lending money. When they stop lending money the economy goes into a recession. When we go into a recession people lose their jobs.
That's how the stupidity of bankers can affect you.
On top of this, the Federal Reserve is probably going to start raising interest rates next year. Great for you, right? More interest in my savings account! This is another way that a recession could start. The more it costs companies to run their businesses the more likely they are to go bankrupt. See how this cycle perpetuates?
Get your emergency fund topped off and if that's pay down as much debt as possible. The more debt you can retire the less financially fragile you'll be.
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