Knowing this post is somewhat vague & at the risk of sounding like a crazy I'm gonna post it anyway;
I'd like to hear some of your thoughts on a US Economic Collapse. Personally, I can't say one way or the other. I do lean toward it happening. I must point out I can't really blame Obama. From what I've read anyone who would be president at this time (or the next president) would probably have to do much of the same thing - printing & borrowing money. I think a survey was done in the Prepping Community and something like seventy to ninety percent were prepping for an Economic Collapse. Here's some of my thoughts/questions;
Unfunded liabilities. I can't quote the number but there's no way our country can fund all the programs coming our way in the near future - not to even mention obama care. The near future being very, very close - a decade maybe?
There's a course of events that happens prior to an economic collapse. Study the economic collasp es of countries such as Argentina, Venezuela, Brazil, Russia, Cuba, and others. (their stock markets were doing good just before their collaspes) There is a point of no return when it comes to debt. Some folks say we have passed it. When a country starts printing money to pay the interest on it's debt that is a sure sign that the end is near or at least hyperinflation. We're doing that now. To what extent I don't know.
Bank Holiday; That's when the banks shuts the doors to keep from having a run on the hard cash. We saw it small time with the Savings & Loans, and some financial institutions in the NE US after the hurricane knocked out electricity, and that island nation off of Greece. The problem is we don't use hard cash anymore we use electronic transfers of some type. It was explained like this. We have about 3 inches worth of hard cash and about 10 feet of electronic money. (800 billion cash vs 7 trillion electronic money)Now why worry about that? If terrorists were to shut down our electrical grid or an EMP we would have to go back to hard cash for a while. Other things could spur a bank run as well such as a domino effect when small countries becomes unable to pay their debts and start defaulting. Then the other countries that collects from them will suddenly become unable to pay their creditors, and so on. What about the US cities that are lining up to declare bankruptcy? If China wanted to become the dominant financial giant they could dump our bonds on the market and sell them for pennies on the dollar. Yes, they would loose a ton of money but compare that to the cost of war and the chance/reward to being the world's exchange currency. From what I read there's more people in the US recieving a govt paycheck or entitlements than there are working - how long will that last?
This article is dated Feb of 2012 but it should raise some eyebrows. There's several states in the US who are seeking their own currency - which is granted by the constitution (always ask why).http://money.cnn.com/2012/02/03/pf/states_currencies/index.htm
When a collapse/hyperinflation happens how will you know it? Two sure signs, keeping in mind your dollars is readjusting down to the value of printed paper(eventually back up). You'll see gas at the pump go from $3/$4 a gallon to $5, then to $8 or $9, then probably upwards to $15 or $25 a gallon. Groceries will take the same path. They say a loaf of bread will cost around $15. This will happen in one day. Your credit cards will probably be shut down first, then your debit cards. That's because folks will be rushing to the stores to stock up. The gov't entitlements will either be shut down, reduced, or at least so invaluable the money from them wouldn't buy hardly anything. This will last at least a couple of years.
Then there's the riots. Do you remember the movie "Hunger Games"? One of the mentors gave that girl some very practical advice; Don't run toward the supplies - run away. It'll be a blood bath.
A lot of folks compare this to the Carter years. At that time we didn't have the debt and liabilities we have now. Other things that raises my eyebrow is the effort by our gov't to confiscate our guns. Dept of Homeland Security buying all that ammo, also buying bullet proof vehicles with machine gun portals. I've been sent to several disaster areas you don't need that. You need helicopters & cargo trucks to haul supplies or people in/out. Those drones. They will have in production before long drones the size of a mosquito, pigeons, or what ever. The small ones will be able to land on you and take a blood sample for dna purposes. Why do the FEMA camps have the razor wire on the inside?
Do you know about the Defense Authorization Act (remake from the sixties)? If they declare marshal law and if someone from the gov't deems it necessary they can come to your house take your food, gas, vehicles, weapons, and place you in servitude(?) = slavery. They can even take your house. The kicker is they have made it very easy for an area to be placed under marshal law. Any local mayor can have it authorized. Go to youtube and search a video by the NRA concerning Gun Confiscation during hurricane Katrina. You'll be fit to be tied.
Russia & China have been buying tonnes of gold and other precious metals. Germany is wanting their gold brought back to their homeland. From what I've read the stock market will climb higher and higher, then spike and crash. The OPEC nations are moving away from requiring other countries to purchase oil using US Dollars. Google "Petro Dollars" that should explain it better than I could.
Is all this just a bunch of hype? I sure hope so. I can't imagine living in a third world setting. You should prepare yourself to weather some of the storm. If the dollar collapses eventually you'll lose water & electrical. They say in Chicago if you dial 911 it takes around an hour for someone to show up. In these other countries that has collapsed they say days. Every country/economy has their "restart" button pushed. Without a lot of ta doo here's a couple of thoughts to be prepared. Water - have some way to catch and purify your water. Have some extra food stored up. Have as much cash on hand in small bills as you can. Put the cash in a jar and bury it. Buy silver, do the same thing. Have some means of protection both handguns and long barrels. Know how to use them - very well. Have ammo. If you're able; buy seeds, fertilizer, poison, picks, hoes, axes, and the such. Then keep your mouth shut. 3 minutes without air, or 3 days without water, or 3 weeks without food can cause death.
Other than the economics, the South East US is due an earthquake. Google Madrid Earthquake. My sister lives in north Alabama. She was talking with a FEMA agent and when they found out where she lives they emphasized for her to get earthquake insurance. It seems FEMA is real concerned about an earthquake happening in our life time to near future up there. Of course you can't predict an earthquake but the last time the Madrid earthquake hit it done damage from Washington DC down through the SE states. Think how many bridges would fall.
There's so many other little factors that makes me wonder. Pray about it and seek if you should prepare. We started long before the doomsday preppers show so it's not a fad we're going through. You'll need like minded friends as well. So how can you keep your mouth closed and recruit like minded friends? Watch their behavior/purchases.
Tell me what you think.