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Preparing for the Coming Economic Collapse
#12
Deathstar, I have no idea what an economic collapse will look like because everything depends on what actions our government takes. Those actions will determine whether this country just continues the slow decline that began a few years ago or whether the economy crashes suddenly. Some of the current "experts" on the subject will be proven right by chance - only because there are so many economists making so many predictions - somebody has to be right.

The things that I am certain of, assuming federal spending continues to spiral out of control, tax relief never comes for businesses and individuals who produce jobs, and the Federal Reserve continues to "pump" money into the economy are as follows:

1. Politicians will find scapegoats - they will accept no blame for what lies ahead. For the Germans, the scapegoats were Jews. So far, our politicians are still looking for a group of scapegoats against which voters can be united. The leading candidates are the "wealthiest 1 percent among us," oil companies, and greedy speculators. My guess is that eventually politicians will turn on illegal immigrants because as common working people lose their jobs and see illegal immigrants still working and sending money back to Mexico, they will blame Mexicans and decide that they really are willing to do those jobs. Politicians, who are responsible for the illegal immigration problem, will become outraged that so many illegal immigrants have taken American jobs.

2. Inflation will skyrocket and we may become the largest nation ever to experience hyperinflation. If hyperinflation strikes our economy, then people will see paper currency become worth as little as wallpaper.

3. Tens of millions of people will be forced to change careers. There will be much less demand for sales and other service people as the inflation rate soars and people find themselves struggling to put food on the table. People with skills like blacksmithing, welding, and carpentry will find renewed respect. Former non-military federal employees who spent years creating regulations will find the world a tough place to live.

4. Riots and looting will once again become common in our largest cities. A new wave of immigration will result and new "Detroits" will be created around the country. Millions of people will buy property in rural areas for safe getaways.

5. Federal and state governments will find a way to raid private pensions and 401-K plans. The federal government is already using federal pension funds to fund the government until the debt limit is raised again.

Our population is much larger than it was during the Great Depression and it has also become much more urbanized. The potential for a second Great Depression that would make the first one look tame is a real possibility.

However, such a dire outcome can be prevented with less, not more, government action. The federal government created the conditions for a depression and the power to prevent it is within its grasps.

Unfortunately, we have a Senate majority that refuses to even propose a budget, following Nancy Pelosi's decision not to propose a budget in the House for last year. Think about that a moment and let it sink in. Democrat leaders believe that voters will support them in greater numbers if they fail to pass budget resolutions - and they may be right.

Bad government policies produce bad economies. Barack Obama has taken the exact opposite actions that Ronald Reagan took to reverse the damage done by Nixon, Ford, and Carter, and we are seeing the results.
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Preparing for the Coming Economic Collapse - by Hoot Gibson - 06-05-2011, 05:12 PM

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