Economic collapse

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 systems which depend on it.

Current State of Affairs in the Economy

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 Fed 'tapers'" quantitative easing "while some jobs return, and yet the fundamental threats to our way of life has only grown worse -- much, much worse. The United States government nearly defaulted on its debts and the solution was to raise the debt limit -- to spend yet more money, to go even deeper in hock to China" via Treasury Bills, "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 devaluation of our currency and an economic crash that will upend our power, our political system, and our way of life."

According to Mr. Schiff, Joel Skousen, James Wesley Rawles, Jack Spirko and other fiscally conservative economics pundits, the majors issues to examine to understand the strong mathematical and historical likelihood of a an even greater crash than the Great Depression:

• The 2013 government shutdown
• The national debt crisis
• How the solution of quantitative easing only dug a deeper hole
• The IRS political auditing scandal and why the average American should care
• What will happen when the government stops inflating the stock market and real estate market economic bubbles
• How Detroit's and other US cities bankruptcies mirror our national situation: too many promises, not enough revenue

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 agencies, stop foreign military escapades, and cut entitlements of all kinds for all classes of people."

See Also

• Economic collapse: Inflation, Agflation, Deflation, Stagflation, Hyperinflation (Zimbabwe and Weimar Republic)

Bibliography - Further Reading

• Rawles, James Wesley, How to Survive the End of the World as We Know It - Tactics, Techniques, and Technologies for Uncertain Times', New York: Plume/Penguin Books, 2009. Released September 30, 2009, 336 pages, ISBN-10: 0452295831, ISBN-13: 978-0452295834, Audible.com Audio book, Amazon.com Paperback.

• Rawles, James Wesley, Tools for Survival: What You Need to Survive When You’re on Your Own. New York: Plume/Penguin Books, 2015. Released December 30, 2014, 368 pages, ISBN-10: 0452298121, ISBN-13: 978-0452298125, Reviews, Audible.com Audio book, Amazon.com Paperback.

• Schiff, Peter D., 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 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."

• Snyder, Michael, 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.

External Links

• Snyder, Michael, TheEconomicCollapseBlog Financial Market Collapse, The Economic Collapse Blog, 2015.