On today’s show Doug Hoyes interviews Ted Michalos, and they offer their opinions on the current state of the economy, and outlined several predictions for the coming year, touching on important financial topics such as the economy, unemployment, and interest rates.

We start with a look back to the credit crisis of 2008, and the resulting peak in bankruptcy filings in 2009.

As interest rates have declined many debtors now act as though money is virtually free, and have financed large mortgages and car loans, which will cause serious financial issues when interest rates inevitably increase. We offer some advice on strategies to protect yourself in 2015.