So what exactly is an “Economic Collapse”?
In proper context, it would be a complete breakdown of our national and regional (more than likely global) economies. It is basically a severe economic depression, where an economy is in complete distress for years or possibly even decades.
The Great Depression is a decent example of an economic collapse. In 1929, the stock market crashed after amazing growth (and manipulation) and it destroyed the economy. This brought about unemployment to the tune of 24% – possibly 25%, high levels of poverty and it lasted for many years.
You can always pin-point an economic collapse by a few specific factors. These events are characterized by extremely high unemployment, excessively high poverty levels, and bouts of civil unrest. The scary element of this is the fact that desperate people do desperate things.
Causes of these events range from market manipulation, hyperinflation, deflation, bubbles bursting, stagflation and basic financial-market crashes.
Of course, these headings have their own extensive lists of causing factors such as out of control debt and currency devaluation. Sometimes, a simple drop in consumer confidence can get the ball rolling.
Of course, we are already witnessing much of this and anyone paying even the slightest bit of attention has undoubtedly heard these terms as of late.
There are some that believe that government intervention may be necessary to bring an economy back from collapse.
Some believe that government intervention is the last thing that should be done. Still, some believe that an economic upheaval is only corrected after the war that inevitably follows.
After the Great Depression for example, the government created many programs building roads, buildings, bridges, etc., to get people working while also building national infrastructure. Did this fix the economy?
What we know for sure is that it brought about substantially larger government in the end, which in many ways just perpetuated the cycle. Then what happened? World War II and the end of the Depression. Maybe they are all right.
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The collapse of the Western financial system will wipe out the standard of living of its population while ending ponzi schemes such as the stock exchange and the pension funds.
The population will be hit so badly by a full array of bubbles and ponzi schemes that the migration engine will start to work in reverse accelerating itself due to ripple effects thus leading to the demise of the States.
This unseen situation for the States will develop itself in a cascade pattern with unprecedented and devastating effects for the economy. Jobs offshoring will surely end with many American Corporations relocating overseas thus becoming foreign Corporations!!!!
We see a significant part of the American population migrating to Latin America and Asia while migration to Europe – suffering a similar illness – won’t be relevant. Nevertheless the death toll will be horrible.
Take into account that the Soviet Union’s population was poorer than the Americans nowadays or even then. The ex-Soviets suffered during the following struggle in the 1990s with a significant death toll and the loss of national pride.
Might we say “Twice the pride, double the fall”? Nope. The American standard of living is one of the highest, far more than double of the Soviets while having added a services economy that will be gone along with the financial system. When pensioners see their retirement disappear in front of their eyes and there are no servicing jobs you can imagine what is going to happen next.
At least younger people can migrate. Never in human history were so many elders among the population. In past centuries people were lucky to get to their 30s or 40s. The American downfall is set to be far worse than the Soviet Union’s one. A confluence of crisis with a devastating result…(source)
The following are 11 predictions of economic disaster from top experts all over the globe…
#1 Bill Fleckenstein: “They are trying to make the stock market go up and drag the economy along with it. It’s not going to work. There’s going to be a big accident. When people realize that it’s all a charade, the dollar will tank, the stock market will tank, and hopefully bond markets will tank. Gold will rally in that period of time because it’s done what it’s done because people have assumed complete infallibility on the part of the central bankers.”
#2 John Ficenec: “In the US, Professor Robert Shiller’s cyclically adjusted price earnings ratio – or Shiller CAPE – for the S&P 500 is currently at 27.2, some 64pc above the historic average of 16.6. On only three occasions since 1882 has it been higher – in 1929, 2000 and 2007.”
#3 Ambrose Evans-Pritchard, one of the most respected economic journalists on the entire planet: “The eurozone will be in deflation by February, forlornly trying to ignite its damp wood by rubbing stones. Real interest rates will ratchet higher. The debt load will continue to rise at a faster pace than nominal GDP across Club Med. The region will sink deeper into a compound interest trap.”
#4 The Jerome Levy Forecasting Center, which correctly predicted the bursting of the subprime mortgage bubble in 2007: “Clearly the direction of most of the recent global economic news suggests movement toward a 2017 downturn.”
#5 Paul Craig Roberts: “At any time the Western house of cards could collapse. It (the financial system) is a house of cards. There are no economic fundamentals that support stock prices — the Dow Jones. There are no economic fundamentals that support the strong dollar…”
#6 David Tice: “I have the same kind of feel in ’98 and ’99; also ’05 and ’06. This is going to end badly. I have every confidence in the world.”
#7 Liz Capo McCormick and Susanne Walker: “Get ready for a disastrous year for U.S. government bonds. That’s the message forecasters on Wall Street are sending.”
#8 Phoenix Capital Research: “Just about everything will be hit as well. Most of the ‘recovery’ of the last five years has been fueled by cheap borrowed Dollars. Now that the US Dollar has broken out of a multi-year range, you’re going to see more and more ‘risk assets’ (read: projects or investments fueled by borrowed Dollars) blow up. Oil is just the beginning, not a standalone story.
If things really pick up steam, there’s over $9 TRILLION worth of potential explosions waiting in the wings. Imagine if the entire economies of both Germany and Japan exploded and you’ve got a decent idea of the size of the potential impact on the financial system.”
#9 Rob Kirby: “What this breakdown in the crude oil price is going to spawn another financial crisis. It will be tied to the junk debt that has been issued to finance the shale oil plays in North America. It is reported to be in the area of half a trillion dollars worth of junk debt that is held largely on the books of large financial institutions in the western world. When these bonds start to fail, they will jeopardize the future of these financial institutions. I do believe that will be the signal for the Fed to come riding to the rescue with QE4. I also think QE4 is likely going to be accompanied by bank bail-ins because we all know all western world countries have adopted bail-in legislation in their most recent budgets. The financial elites are engineering the excuse for their next round of money printing . . . and they will be confiscating money out of savings accounts and pension accounts. That’s what I think is coming in the very near future.”
#10 John Ing: “The 2008 collapse was just a dress rehearsal compared to what the world is going to face this time around. This time we have governments which are even more highly leveraged than the private sector was.
So this time the collapse will be on a scale that is many magnitudes greater than what the world witnessed in 2008.”
#11 Gerald Celente: “What does the word confidence mean? Break it down. In this case confidence = con men and con game. That’s all it is. So people will lose confidence in the con men because they have already shown their cards. It’s a Ponzi scheme. So the con game is running out and they don’t have any more cards to play.
What are they going to do? They can’t raise interest rates. We saw what happened in the beginning of December when the equity markets started to unravel. So it will be a loss of confidence in the con game and the con game is soon coming to an end. That is when you are going to see panic on Wall Street and around the world.”(source)
But it’s not just a US problem. This thing is global, which further complicates the picture and darkens up the effect. To break this down as simple as I can, global debt has risen a massive $57 trillion (more than 25%) since the crisis of 2008.
It’s getting worse for a lot of different reasons, but also because of the nation’s now trying their hand at their own QE – Quantitative Easing – schemes. The point is that there is little (if any) real evidence to suggest that things are getting better. In fact, just the opposite is true.
It has been said that the United States and Europe overall, are in a debt-fueled deflation which is spiraling out of control. And with interest rates at next to nothing, it means there is little (if any) room left to wiggle.
Now factor in the drastic reduction in retail sales and the dramatic reduction in manufacturing and exports out of China, we begin to see a much bigger and darker picture. Things are slowing down at a dramatic pace. Of course, this affects China substantially and they are seeing the signs as well –and preparing.
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