by Amy S.
The imminent economic collapse and next Great Depression. Temporary prosperity that is created by exploding levels of debt is not actually prosperity at all.
At this moment, the U.S. government is 22 trillion dollar in debt, and we have been adding an average of more than a trillion dollars a year to that debt since 2009. And if we stay on the path that we are currently on, the trajectory of our debt will soon accelerate dramatically causing the biggest economic collapse in our lifetime. In fact, as you will see below, the Congressional Budget Office is now projecting that the U.S. national debt will reach 99 trillion dollars by 2048 if nothing changes.
Congressional Budget Office projections always tend to be overly optimistic, and so the reality will probably be much worse than that. Of course we will never actually see the day when our national debt reaches 99 trillion dollars. A major economic collapse and the biggest stock market crash will happen long before we ever get to that point. In our endless greed, we are literally destroying America, and emergency action must be taken immediately if we are to survive.
Let me try to put this into perspective. Not too long ago, Venezuela was once one of the wealthiest countries in South America. These days, many Americans like to laugh at them, but we are on the exact same path that Venezuela has gone down with their horrific economic collapse. Eventually, the day comes when there is not enough of someone else’s money to spend, and suffocating levels of debt make the option of printing giant mountains of money too tempting to resist.
At that point it is just a matter of time before a huge stock market crash and society devolves into chaos. The same principle is going to also apply on a global scale. The U.S. government is now more than 22 trillion dollars in debt, and the entire globe is now more than 250 trillion dollars in debt, and global economic collapse is coming. Twenty years ago there was $40 trillion of debt in the world today there is $250 trillion worth of debt in the world. It would take an unprecedented effort to turn things around, but right now hardly anyone seems concerned about bringing all of this debt under control. So we continue to roll on toward our date with economic collapse, and most people are completely oblivious to what is about to happen to us. A horrific stock market crash and economic collapse is coming.
How to be prepared for a food crisis?
Food Crisis queuing case of a food shortage you should be aware that grocery stores only have about 3 days of food in stock. People will rush and buy as much as they can so probably the food will vanish in less than a day or hours. So if anything was to disrupt the food supply chain for an extended period of time, there would be chaos in most communities. It’s very important to start preparing NOW. There are several ways to start. The choice you make should depend on the event you are preparing for. Of course the best way is to prepare for all scenarios including long periods.
Financial writer and professional trader Rick Ackerman says, “I think they have gone crazy. Powell says no rate hikes in 2019, and then, this guy Harker (Philadelphia Fed) says maybe one rate hike in 2019 and one in 2020. They are nuts. I talked about the $1 quadrillion derivatives bubble, and a hike is subjecting that to one more turn of the screw every time you hike another 25 basis points.
So, that’s crazy talk.” If the economy gets into trouble, can rate cuts save the day one more time? Ackerman says, “The question now is do we get some sort of stimulus effect if we lower interest rates with stocks already on the moon and home prices that have recovered more than before the 2007/2008 crash? We are stimulating, and we are in a completely different place. I think there is good reason for skepticism that the little bit of margin to bring rates down to zero can accomplish what it accomplished in the past.”
Ackerman also says there is a place for gold and silver coins in your portfolio, but he thinks cash will be most useful in the next crash where banks are closed and the electronic payment system goes dark.
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