Some relief can be obtained from the recently passed stimulus bill. Before the end of the first semester of this year, people will be receiving the windfall from the recently passed “stimulus” bill:
individuals = $600
couples = $1200, $300 additional for each child.

This can be part of a source for shoring up personal / household finances. One use of this windfall which can serve as an umbrella against subprime fallout would be to pay down as much debt as it cover (i.e., credit cards & mortgages).
Image from Microsoft Clipart

The fallout from the eruption in the financial markets caused by the collapse of worthless subprime mortgages is already being felt, not only in the United States, but in the rest of the world as well.

Worst hit with wide ranging effects are businesses. Large corporations are downsizing and turning out employees in the thousands into the streets and unemployment lines.
Wage earners and their families are filled with anxiety and uncertainty about the future. Many are being forced to go into arrears and into default in their credit cards and mortgages.

What can you do? In …read more