Avoid excessive debt from "summary" of CONQUER The CRASH-You Can Survive and Prosper in a Deflationary Depression by Robert R Prechter
The concept of avoiding excessive debt is crucial during a deflationary depression. When economic conditions are deteriorating, it is essential to be cautious with borrowing money. Excessive debt can become a heavy burden when asset prices are falling and incomes are declining. Taking on too much debt can lead to financial distress and potentially bankruptcy. In a deflationary environment, the value of assets may decrease, making it harder to repay debts. This can create a cycle of debt and financial hardship that is difficult to break free from. It is im...
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