While the mainstream media propagandists continue to push the lie of a robust recovering economy, the fact is, we are in some serious fiscal trouble. Economies around the world are crashing, countries are drowning in record amounts of debt, and governments continue to pile on new debt like there’s no tomorrow.
What is an Economic Collapse?
Economic collapse, in its simplest definition, means a sudden and severe drop in currency value, leading to a financial crisis. It usually happens when the country’s economic activities are mismanaged or when an unexpected event throws the country into chaos. Some examples of such events are terrorist attacks, natural disasters, political upheaval, severe social unrest, financial bubbles , a collapse in government, and pandemics.
Throughout the history of the world, there have been many instances where countries have experienced an economic collapse, leading to severe consequences such as hyperinflation, high unemployment rates, and poverty. In extreme cases, economic collapse can even lead to a societal breakdown, with people experiencing shortages, social unrest, and struggling to survive.
The earliest recorded economic collapse occurred in 176 BC when the Roman Republic experienced a severe financial crisis that eventually led to massive inflation and debasement of the currency. The government’s response to this crisis was to issue more coins with decreased silver content, resulting in worsening hyperinflation and a sharp decline in the purchasing power of its citizens. This eventually led to social unrest and political instability, eroding the strength of the Roman Empire over time.
Another significant economic collapse occurred during the Great Depression of the 1930s, triggered by the stock market crash of 1929. During this period, businesses failed, banks collapsed, and unemployment soared to unprecedented levels worldwide. The depression had far-reaching negative consequences, some of which ultimately led to World War II.
In 1997, the Asian Financial Crisis rocked Southeast Asia, causing widespread economic instability and social unrest. The crisis began with the devaluation of the Thai baht, leading to investors withdrawing their capital from other Southeast Asian countries. This, in turn, led to a sharp decline in the value of their currencies and an economic recession. As a result, millions lost their jobs, and poverty rates rose steeply. Some nations recovered relatively quickly, while others, such as Indonesia, suffered profound economic and political upheaval for several years.
The most recent collapse occurred in 2008 when the subprime mortgage crisis shook the global financial markets. The crisis began with predatory lending practices by mortgage lenders, high-risk borrowing by homeowners, and the buying and selling of risky loans between financial institutions. When homeowners began to default on their mortgages, banks and insurance companies suffered huge losses, and trust in the financial system evaporated almost overnight. As a result, governments worldwide were forced to intervene to avoid a total collapse of the financial system.
As history shows, it’s not if but when! Therefore, preparing for an economic collapse is vital to your survival, especially in today’s world, where the global economy is interdependent. Any event, even those in other parts of the world, can have a ripple effect on other countries. This article will provide tips on how to prepare for economic collapse.
Are we heading towards an Economic Collapse?
At some point this debt train is going to come to a screeching halt; when that happens we are going to see panic and chaos like nothing we’ve ever seen before.
As we’ve been covering for some time now, a look at the numbers and data shows we are heading for a potential disaster. From a series of high profile banks going bust to record inflation combined with major supply chain shortages, our economy seems to be heading right off the cliff.
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The world, especially the United States, is drowning in debt.
The United States, once the world’s shining example of fiscal security and responsibility, has become shackled by a record amount of debt. We are literally drowning in debt.
The Great Reset: Global Government & Digital Currency by 2030?
On today’s Watchman Newscast, host Erick Stakelbeck is joined by the Kwak brothers to break down why the year 2030 is so pivotal for the Great Reset agenda—and how the push for global government and a digital currency is growing at an alarming rate. Does this sinister movement have prophetic implications? Watch now!
Are We Going Into a Recession?
Recessions are kind of like hurricanes. It’s hard to predict when they’ll hit and how much damage they’ll cause. But instead of downed trees and smashed houses, the damage from a recession usually looks like this: lost jobs, a tanking stock market and bankrupt businesses.
Now, you might not personally feel the effects of a mild recession (though you’ll definitely hear about them in the news 24/7). But a moderate or severe recession will absolutely get your attention.
Just like hurricanes, the key to surviving a recession is being prepared and not freaking out.
Recessions are a natural part of the economy, so it’s a given that we’ll have them from time to time. We’ve actually had 13 recessions since World War II, and the average length of each was about 10 months.1
No matter what the economy does, this economic trouble is temporary. If you’re reading this, you’ve lived through at least two recessions. And you made it!
With that being said, it’s always good to be prepared for a recession.
Get Your Own Personal Economy in Order
Remember, a recession means the economy has been in a slump for six months or more. But the money decisions you make every day impact you more than what’s happening in the White House or on Wall Street.
What have the last six months been like at your house? Think about it. Have your finances been in a recession of their own due to inflation or something else? If you’ve had a bad break, now is the time to really dig in and get serious. Use the possibility of a recession as motivation to be intentional about how you handle your money now.
Maybe you don’t even know where to start. Sure, it’s easy to spot a red flag and know things need to change, but it’s hard to figure out exactly how to make it happen. So set aside three minutes to sit down and take our free money assessment. Just answer a few questions about your money habits and it’ll get you started with a plan you can put into action today. You can do this!