Most AMERICANS are NOT PREPARED for the Coming ECONOMIC COLLAPSE






Sometimes I think that I sound like a broken record. I am constantly using phrases such as “get prepared while you still can” and “time is running out”. In fact, I use them so often that people are starting to criticize me for it. A lot of it has to do with the fact that we have such short memories and such short attention spans in America today. Thanks to years of television and endless hours on the Internet, I find myself having a really hard time focusing on anything for more than just a few moments. And we are accustomed to living in an “instant society” where we don’t have to wait for anything. In such a society, we are used to “news cycles” that only last for 24 hours and very few people take a “long-term view” of anything. Unfortunately, that is not the truth. As I have written about previously, the long-term trends that are destroying our economy have continued to get worse since 2008, and none of the problems that caused the last financial crisis have been fixed. #4 Some people are actually trying really hard to get ahead, but admittedly that is really tough to do when we are all being taxed into oblivion. In fact, it was reported this week that Americans now spend more on taxes than they spend on food, clothing and housing combined. In this day and age, it is imperative that we all learn how to think for ourselves. The foundations of our society are crumbling, our economic system is failing and the blind are leading the blind. If we do not learn to make our own decisions, we are just going to follow the rest of the herd into oblivion.

Taken together, these facts spell doom for the U.S. dollar. Short of attempting – highly unrealistically – to increase its manufactured output by nearly 50 percent and to sell the increased output abroad, America can’t dig itself out of the hole — at least not if it sticks with free trade. The ultimate outcome will surely be a total collapse of the dollar. And in that event, as the former top Reagan administration economic policymaker Paul Craig Roberts has pointed out, shoppers in Walmart will feel they are in Neiman Marcus.

The world’s kingpin currency for more than half a century, the dollar has survived in recent years thanks only to the “charity” of strangers: export-minded East Asian governments, principally those of Japan and China, have bought ever larger amounts of U.S. Treasury bonds to keep their own currencies low. For the East Asians, the attraction is that they can continue for a few more years to hollow out the American manufacturing base. financial system almost collapsed back in 2008? Millions of Americans suddenly lost their jobs, and because many of them were living paycheck to paycheck, many of them also got behind on their mortgages and lost their homes. You don’t want to lose everything that you have worked for during this next major economic downturn. It is imperative that you have an emergency fund. It should be enough to cover all of your expenses for at least six months, but I would encourage you to have an emergency fund that is even larger than that. In the long-term, the U.S. dollar is going to lose a tremendous amount of value and inflation is going to absolutely skyrocket. That is one reason why so many people are investing very heavily in gold, silver and other precious metals. All over the globe, the central banks of the world are recklessly printing money. Everyone knows that this is going to end very badly. In fact, there is already a push in more than a dozen U.S. states to allow gold and silver coins to be used as legal tender. Someday you will be glad that you invested in gold and silver now while their prices were still low. This is a skill that most Americans possessed in the past, but that most Americans today have forgotten. Growing your own food is a way to become more independent of the system, and it is a way to get prepared for what is ahead.
THE FINANCIAL ARMAGEDDON BLOG

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