Not Ready For Economic Collapse! Only 41 Percent Of Americans Have $1000 To Cover An Emergency

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Are you prepared for the imminent economic collapse?

We better hope that the U.S. economy holds together in 2020, because if there is any sort of major economic collapse much of the country is going to be broke almost immediately. Today, close to half of all Americans are living on the edge financially. For many, it is out of necessity, but for others it is a conscious choice. Way too many people out there see no need to build up a substantial financial cushion because they have a tremendous amount of faith in the economic system. They don’t think that things will ever get too bad in this country, and so there is no urgency to put funds away for a rainy day. But even if authorities could somehow prevent an economic collapse from ever happening again, individual emergencies are taking place all around us on a constant basis. Cars break down, people get sick, and accidents happen. Unfortunately, most Americans are completely unprepared for some sort of an emergency to strike. In fact, a brand new survey has discovered that just 41 percent of Americans could cover a $1,000 emergency expense using their current savings… So where would everyone else get the money for an emergency? Well, most of them would either borrow the money or get it from a relative. And usually an emergency costs a lot more than $1,000.

The bottom line is that most of the country is living paycheck to paycheck, and most Americans are just one small step away from financial collapse. Back in 2008 economic collapse, millions of Americans suddenly lost their jobs, and because so many of them were living on the edge financially a lot of them suddenly couldn’t pay their mortgages. You would think that we would have learned something from that very painful experience, but we didn’t. So we better hope that the U.S. economy remains relatively stable, because a serious downturn would be very ugly. Unfortunately, an increasing number of experts are warning that our luck is about to run out. In fact, the head of the IMF recently warned that we could potentially be facing another economic collapse and “Great Depression” . That certainly doesn’t sound good at all. Here in the United States, most people have been choosing to ignore all the signs that the economy is starting to collapse.

But as stores and businesses continue to close down all over the nation, it is going to become very difficult to ignore all of the empty buildings. For example, Macy’s just announced that they will be closing nearly 30 stores. And one of the most prominent mall retailers in the entire country has just announced that they will be closing 91 stores. Of course I could go on and on all day. Here are just a couple more examples of major retailers that are closing down stores… Bed Bath & Beyond is closing 60 locations, with the list being revealed Tuesday. And Schurman Retail Group plans to close its Papyrus and American Greetings stores, totaling about 254 locations, within the next four to six weeks.

But despite all of the evidence to the contrary, the irrational optimists would still have us believe that America has entered a new era of tremendous economic prosperity. I actually wish that was true. Sadly, decades of exceedingly bad decisions are catching up with us in a major way, and instead of changing course we continue to steamroll toward a date with destiny.

Right now I am going to share with you the number one piece of advice that I give to everyone who asks about preparing for the great economic collapse that is ahead. Build up a financial cushion. When things get bad, you are going to need money. I know that sounds exceedingly simple, but obviously most of the country is choosing not to do this. Instead, most of the country is surviving from month to month with barely any money in their bank accounts, and so when economic disaster strikes they are going to be looking for someone else to rescue them.

We have had more than a decade since the financial crisis of 2008 to prepare for the next one, but most people are acting as if the next one will never arrive.

Unfortunately, the truth is that the next crisiseconomic collapse has already started, and businesses all over the nation are going bankrupt.

But most Americans won’t realize what is happening until things really start getting out of hand, and by then it will be far too late to make any sort of preparations.

 

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