What have you heard about the coming Economic Collapse

What have you heard about the coming Economic Collapse that's facing the world.

Please post rumors, theories, facts etc. that you have or have heard. I think this will help people to better understand what we are facing and be prepared for it.

We keep hearing in the news how bad this crisis is and how big of an impact it will have on us so please share what your heard, believe or know.

This is what I heard the other day:

We People in modern World have become so depended on our Government that when this crisis hits it will hurt us a lot more than people in say 3rd world countries who are more dependent on themselves for things such as fetching their own water, using lanterns for light, wood stoves to cook, growing their own vegetables and fruits.

When the crisis hits it will start to break down certain infrastructure. Businesses will start to fail and close down. Supermarkets will start to close down thus making us drive further to find food to buy.

Massive unemployment leaving millions of people at home without an income. The welfare state will be no more so no other form of income etc. You start turning to neighbors for help. You start looting and protesting in the streets. Basically things get pretty dirty.

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Not sure if this is even possible but its what I heard and thought I would share. What have you heard.

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If you feel this thread serves no purpose than scaring people this is not my intent. Please close if you see fit...

reply to post by walkinghomer


The main thing I have learned about MSM, is if they are reporting something that embarrasses government, makes them look incompetent or suspicious, immediately double the damage that they dumb down to avoid a panic.

If they are reporting anything else, like a natural disaster, half the damage they are pumping up to make more dramatic.

I have seen a lot of people, professionals and highly paid bankers, stating that it'll be ok. And they have repeatedly been proven wrong over and over.

I've seen some economists and others stating that common sense dictates that we are headed for severe economic and social hardship, to the point of major damage to infrastructure, civil society and general standards of living.

The one thing I hear over and over, and then see evidence of it happening, is civil unrest.
This will be a major factor in the future of our countries. I believe that this is extremely likely, to the point of being impossible to avoid. I am certain that governments are preparing for it (New Orleans?) as they realize that this is one of the major influences in how bad things will be.

I've heard the rumor that the complete collapse of the $ will occur in the summer. That rallies and protests will likely turn violent in March. I've heard it said that only one of the three major car manufacturers has a chance of survival, and that it will be Chrysler, chosen by the government to take assets from the other two where possible.

But all of this depends on other factors. The timing of all of this is influenced by everything else.
But the main factor will be unemployment. If this continues to mount, there will be a point where tax income is not sufficient to run the economies of states, unemployment services will have to be cut. Then what do people do?

Personally I accept what Peter Schiff (spelling?) has had to say; protectionism, while difficult in the short term, will be the better option. And I think governments should be preparing for this.
Each nation needs to ensure that it can provide for their own people, without imports and exports.
This would provide new employment within each nation, the figures add up. You have ten million people who need food, so you need a good few million to grow it, process it, transport it, sell it. Therefore employment should stabilize when you have this in the power, services and general infrastructure industries also.

But I don't think they'll do this until we've reached a point where our currencies are completely useless.

Very interesting.

I hadn't heard of a time line so this is new. I'll have to read more about the New Orleans thing.

I hear a few people say that once it starts their heading off to their cottages and they have already prepared by buying tons of can foods and seeds to plant food.

I wonder if that's a good idea