When you read this article, the folks over at the Wall Street Journal seem to think that saving is the problem.
Please remember when you read this, that the folks at the WSJ are the folks that have been cheerleading for the catastrophic policies that have landed our sorry butts in the pickle we are in.
There will be any number of serious students of economics who will froth at the mouth at this next statement, but I don't think that credit is real and I think that the only money that you truly have is that which you have saved.
So I am saying that you need to start saving, real savings. You need cash on hand, not some zeroes in a banks computer somewhere. A little gold, a little silver. Maybe some trade goods that you think will be more valuable later than they are now.
Get out of debt and try not to indulge in too much self flagellation as you are doing it. If you really need to, put your savings in a tin can and tell the banks to go take a flying F#@%.
I cannot prove anything, but we aren't going to be getting out of the mess we are in either easy or soon. You had better have something put aside to get you through.