Are You Prepared For a Rough Ride in 2009?

[StillStanding]

In the last quarter of last year. the average American found out that 40% of their nest egg savings had vanished. They were comfortable with their assets and investments growing their nest egg until retirement age.

What has happen in the last few months is that people are now taking normal discretionary money and saving it to help plug the huge hole in their security. An economist recently stated that this amounts to around One Trillion dollars or 1/10 of normal spending by consumers on consumer products. (food, clothing shelter, etc.)

This is on top of approx 500 Billions in toxic assets relief still needed to bail out the banks and investment firms.

The recent stimulus package plus the Tarp funds already approved by congress amounts to around a Trillion dollars, leaving a 500 Billion dollar gap in the GNP. Another 500 billion stimulus will need to be approved before the spending gap is filled.

If this doesn't happen soon, the economy will continue it's spiral down. Look for another stimulus package within a few months.

Things are going to get much worse before they start getting better about this time next year!

Are you prepared? Look for the economy to come close to a screeching halt, and unemployment to hit double digits before things get turned around.

I believe this is the closest will will get to an total economic collapse in our lifetime.

Are you ready? Will people continue to faithfully support the church when every penny they make is needed to just survive?