It’s a smart idea to get qualified for a personal military loan. Why? Because Europe matters. Not to get too deep into macroeconomics or international political economy, but it’s worth noting that the last time national credit ratings started getting down-graded over there, our own recovery started to falter. We were rightened before we double dipped thank goodness, but it scared the ever-loving bejeezus out of Wall St, Constitution Ave, and all three cable news channels at the same time… and that doesn’t happen every day, folks.
credit ratings by country
Here’s the problem: all the world’s economies are tied together, so when the Greeks are running through the streets, American loan rates are going up. This is why people are turning more and more to credit unions, which are a bit more independent since they are member supported. It’s a more stable base that isn’t so subject to the precarious international economic climate. Similarly, a personal military loan is a good option because of its own stable base – although in this case, it’s the stability of the borrower, not the institution. Since this loan is designed to serve those with a “guaranteed” government paycheck, the loan is viewed as secure, and the rate can remain steady.
Good thing, too. We saw what happened with several European counties over the past two to three years, especially Greece. More European turbulence is expected in 2013, as Italy was just downgraded by Moody’s, and Great Britain is expected to lose their AAA rating as well, leaving only 7 countries in Europe at the top level. So we have two levels of doom impending: European instability, which we saw affect our markets before, and our key trading partners suffering the same credit downgrades that sent us into the sequester mess we’re in now.
Best advice? Keep your commitments dependent on the world economy as little as possible. If your loan is subject to rate adjustments, it’s a scary time. But, if your loan is not so susceptible, like a personal military loan is not, then you can breathe a bit easier. It isn’t worry free – no loan is – but it’s a financially sound option in a financially unsound world.
