If the dollar devalues to a penny, then the $700,000 owed devalues to $7000. It doesn't matter because we are not repaying the $7000 dollars either.
Lock in your paper wealth by converting it into real tradable assets.
Income producing businesses are some of the very best real assets, especially those that produce real tradeable goods, or provide necessary services. Good or bad economy, the plumbers are never unemployed. There is no such thing as an electrician who cannot find work.
If you can make your own energy, and you can use 3D printers to make more 3D printers, you have access to unlimited real wealth at your fingertips. With that you don't actually need a lot of money anymore.
especially those that produce real tradeable goods
The "finance" economies are having a rather hard time punishing the "goods" economies atm so good advice. America has nothing real to offer anymore as a country so the laughable idea that they can lock out China and Russia from world trade is somewhat hilarious.
If you have something that people need (not want) then you will always do fine, if you put yourself in a position of only having things that people want (but don't really need) you are totally hosed.
(post is archived)