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Politics : Ask Michael Burke

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To: Tommaso who wrote (37786)	11/30/1998 8:27:00 AM
From: accountclosed	Read Replies (1) of 132070

I have follow up on the discussion last night about reducing debt/restructuring debt. I contend that it is not the vehicles themselves that are bad, but lack of discipline in using the vehicles which is bad. What is your scenario in the downturn that causes you to be debt fearful? If we are headed into something really bad, like where many lose jobs and default on home mortgages, etc., it might not be such a bad idea to have a clutch of credit cards put away in the desk drawer to use to buy groceries and pay the mortgage if things get really bad. Depending on how doomsday your scenario is, survival is always paramount.

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