The Coming Economic Collapse

[KeptByTheWord]

Originally Posted by ILG

It might. If it happens fast, it will be severe, no doubt. A quick collapse would be very bad....and that is what preppers are mostly preparing for. This could happen if government officials lose control. Right now, I see the economy as on life support and the government officials are like doctors constantly monitoring the situation. As in the case with someone on life support, things could take a turn for the worse and the doctors could do their best and still lose the battle. On the other hand, they could win, but it would be miraculous, I think.

The other scenario is that it could happen slowly like frogs in a pot. That is what has already been happening so slowly that people's stress levels keep going up as they are asked to do more with less at work, have more taxes taken out, pay more for insurance, pay more for food and gasoline and heat and electricity etc. etc. But people are not realizing where that heightened stress is coming from, they just know it keeps going up and up.

I think it's crazy not to prepare on some level. People should at the very least try not to live completely paycheck to paycheck and keep racking up bad debt (debt that doesn't create any cash flow). That's good advice no matter what the economy is and even the government recommends you keep at least 3 days worth of food for emergency. Those things are bare minimum.

Totally agree with you.

SOMETHING is coming... what exactly that will be, only God knows. But being prepared is definitely something everyone should be thinking about, and of course, most aren't. That is what is going to make it so bad, I think.

I think of the story of Noah and the ark. There were plenty of warning signs given, but the people did not heed, because it was not something that they had ever seen before, so they ignored it. Yet, when it came, it was too late to do anything but drown. I fear this is the scenario (in an allegorical sense) that we may someday see here in America.

[RandyWayne]

Originally Posted by KeptByTheWord

Totally agree with you.

SOMETHING is coming... what exactly that will be, only God knows. But being prepared is definitely something everyone should be thinking about, and of course, most aren't. That is what is going to make it so bad, I think.

I think of the story of Noah and the ark. There were plenty of warning signs given, but the people did not heed, because it was not something that they had ever seen before, so they ignored it. Yet, when it came, it was too late to do anything but drown. I fear this is the scenario (in an allegorical sense) that we may someday see here in America.

I will hate to see it come to this but when the "ark doors close" they will not be opening for anyone, especially people who scoffed at the supposed paranoia involved in preparing in any way shape or form.

I also don't believe the collapse will be slow at all. The economy will probably creep downward for a while (for how long, who knows) but there will be a point where things just fall apart like a deck of cards. Ponzi schemes tend to end this way.

[RandyWayne]

Originally Posted by Michael The Disciple

The more God blesses one to store up from his perspective would be the more that person could help others.

Even those unwilling to do anything to prepare and help themselves while they NOW have the chance?

I'm not saying I would turn away someone who didn't do exactly what we are doing, or more, but I would expect them to have done something in order for me to help them. The parable of the master who told his servant "if only you would have at least put the talent in the bank and earned a minor amount of interest, it would at least have been something! Depart from me!", to paraphrase.

[ILG]

Originally Posted by RandyWayne

I will hate to see it come to this but when the "ark doors close" they will not be opening for anyone, especially people who scoffed at the supposed paranoia involved in preparing in any way shape or form.

I also don't believe the collapse will be slow at all. The economy will probably creep downward for a while (for how long, who knows) but there will be a point where things just fall apart like a deck of cards. Ponzi schemes tend to end this way.

What is your reasoning behind believing it will be a quick collapse? And how severe do you believe it will be?

[Roagiesgal]

Originally Posted by ILG

What is your reasoning behind believing it will be a quick collapse? And how severe do you believe it will be?

IMO...ILG, it is breaking down, but I think that what just happened in Cypress will happen here at some point. The dollar has nothing to back it up, and the world is trying to bring America down. The government is wanting to take away all deductions from our taxes, they want to tax retirement accounts...at some point its all got to come crashing down...

What do you say RandyWayne?

[ILG]

Originally Posted by Roagiesgal

IMO...ILG, it is breaking down, but I think that what just happened in Cypress will happen here at some point. The dollar has nothing to back it up, and the world is trying to bring America down. The government is wanting to take away all deductions from our taxes, they want to tax retirement accounts...at some point its all got to come crashing down...

What do you say RandyWayne?

The thing in Cyprus has been incredible and mind-boggling.

By the way, I hope this doesn't sound dumb but it is a cheap way to do some prep. All pre-1982 pennies are copper. After that they are zinc. Save all your pre-1982 pennies or get some at the bank. They are worth 2.5 cents in copper.

[ILG]

I am wondering if you guys are considering not only the US debt but the fact that baby boomers are starting to retire.....and are going to start taking money out of the stock market rather than contribute to it? Also they are going to be costing a LOT in health care. We should have more money now than ever to weather this baby boomer storm but instead we are more than broke....

[RandyWayne]

Originally Posted by ILG

I am wondering if you guys are considering not only the US debt but the fact that baby boomers are starting to retire.....and are going to start taking money out of the stock market rather than contribute to it? Also they are going to be costing a LOT in health care. We should have more money now than ever to weather this baby boomer storm but instead we are more than broke....

When you add things like future social security benefits owed during the next 50 years as well as pensions (which are not government debt, but still debt the nation owes), the figure comes up to an astounding 260+ TRILLION dollars. Now tell me, is there a snow balls chance in you know where of even a small fraction of this debt being met?

[Roagiesgal]

Originally Posted by ILG

The thing in Cyprus has been incredible and mind-boggling.

By the way, I hope this doesn't sound dumb but it is a cheap way to do some prep. All pre-1982 pennies are copper. After that they are zinc. Save all your pre-1982 pennies or get some at the bank. They are worth 2.5 cents in copper.

I have been a change saver for years...it is a painless way to save, and adds up quicker than you expect...

Thanks for the tip...

[Roagiesgal]

Originally Posted by ILG

I am wondering if you guys are considering not only the US debt but the fact that baby boomers are starting to retire.....and are going to start taking money out of the stock market rather than contribute to it? Also they are going to be costing a LOT in health care. We should have more money now than ever to weather this baby boomer storm but instead we are more than broke....

I am a boomer...one other reason why we have prepped...we knew our limited income was coming and so stocking up has given us a boost for future grocery and household expenses, we are working hard to get our nest in order for the long haul!

We know probably at some point our SS checks will stop and we want to be as ready as we can be....