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Economic collapse (view source)

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'''Economic collapse''' refers to any of a large number of [[threats]] where the [[economy]] (local, national, global) degrades to the point that it is no longer able to support the individuals and [[Essay:Systems of Support|systems]] which depend on it.

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==Current State of Affairs in the Economy==

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[[Peter Schiff]], who predicted the [[Crash of 2008]], asks, "Since 2012, what has happened with our economy? The [[stock market]] continues its illusory gains, the [[Federal Reserve Bank|Fed]] 'tapers'" [[quantitative easing]] "while some jobs return, and yet the fundamental [[threat|threats]] to [[American values|our way of life]] has only grown worse -- much, much worse. The United States government nearly [[default]]ed on its [[national debt|debts]] and the solution was to raise the [[debt ceiling|debt limit]] -- to spend yet more money, to go even deeper in hock to China" via [[Treasury Bill]]s, "and to burden every American with obligations that are impossible to repay." Mr. Schiff "reveals that the road we're on will lead to an abrupt [[currency devaluation|devaluation of our currency]] and an economic crash that will upend our power, our political system, and our way of life."<ref>[[Peter Schiff|Schiff, Peter D.]], ''[https://www.amazon.com/Real-Crash-Americas-Bankruptcy-Yourself/dp/1250046564 The Real Crash: America's Coming Bankruptcy - How to Save Yourself and Your Country]'</ref>

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According to Mr. Schiff, the majors issues to examine are:

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* The 2013 government shutdown

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* The [[national debt]] crisis

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* How the solution of [[quantitative easing]] only dug a deeper hole

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* The IRS political auditing scandal and why the average American should care

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* What will happen when the government stops [[inflation|inflating]] the [[stock market]] and [[real estate]] market [[economic bubble]]s

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* How [[Detroit]]'s and other US cities [[bankruptcy|bankruptcies]] mirror our national situation: too many promises, not enough [[revenue]]<ref>Ibid.</ref>

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Mr. Schiff asserts that "to avoid complete collapse, America must drastically reduce government spending, and regulations that drain businesses and suppress [[economic growth]], eliminate costly and unnecessary [[:Category:United States Government Agencies|agencies]], stop foreign military escapades, and cut [[entitlement mentality|entitlement]]s of all kinds for all classes of people."<ref>Ibid.</ref>

==See Also==

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* [[James Wesley Rawles|Rawles, James Wesley]], ''Tools for Survival: What You Need to [[Survive]] When You’re on Your Own''. [[New York City|New York]]: [[Plume]]/[[Penguin Books]], 2015. Released December 30, 2014, 368 pages, ISBN-10: 0452298121, ISBN-13: 978-0452298125, [https://www.amazon.com/review/R2CUQ89CXOYB48 Reviews], [https://www.audible.com/pd/Self-Development/Tools-for-Survival-Audiobook/B00QFUC7BE [[Audible.com]] Audio book], [https://www.amazon.com/gp/product/0452298121 [[Amazon.com]] Paperback].

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* [[Peter Schiff|Schiff, Peter D.]], ''[https://www.amazon.com/Real-Crash-Americas-Bankruptcy-Yourself/dp/1250046564 The Real Crash: America's Coming Bankruptcy - How to Save Yourself and Your Country''. Hardcover: 464 pages. Publisher: St. Martin's Press; Second Edition, Revised edition (April 8, 2014). ISBN-10: 1250046564. ISBN-13: 978-1250046567. Mr. Schiff has fully revised and updated his provocative [[New York Times]], [[Wall Street Journal]], and [[USA Today]] [[:Category:Best Sellers|bestseller]] ''The Real Crash''. Amazon.com says, "First published in 2012, The Real Crash argues that America is enjoying a government-inflated [[economic bubble]], one that reality will explode...with disastrous consequences for the economy and for each of us."

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* [[Peter Schiff|Schiff, Peter D.]], ''[https://www.amazon.com/Real-Crash-Americas-Bankruptcy-Yourself/dp/1250046564 The Real Crash: America's Coming Bankruptcy - How to Save Yourself and Your Country]''. Hardcover: 464 pages. Publisher: St. Martin's Press; Second Edition, Revised edition (April 8, 2014). ISBN-10: 1250046564. ISBN-13: 978-1250046567. Mr. Schiff has fully revised and updated his provocative [[New York Times]], [[Wall Street Journal]], and [[USA Today]] [[:Category:Best Sellers|bestseller]] ''The Real Crash''. Amazon.com says, "First published in 2012, The Real Crash argues that America is enjoying a government-inflated [[economic bubble]], one that reality will explode...with disastrous consequences for the economy and for each of us."

* [[Michael Snyder|Snyder, Michael]], ''[https://www.amazon.com/gp/product/1484871308 The Beginning Of The End]'', [[The Economic Collapse Blog]]. Paperback: 442 pages. Publisher: CreateSpace Independent Publishing Platform (May 15, 2013). ISBN-10: 1484871308, ISBN-13: 978-1484871300.

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