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What would happen if the US economic system crashed?

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posted on Jul, 14 2011 @ 10:02 AM
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I'm willing to bet that this thread has been posted before, but in all honesty...what would happen if the US economy went into the toilet. Its about there now I know. Its only a matter of time before the bottom falls out of the dollar and the stock market crashes.

I really want to know what to expect from a crisis of this magnitude. If our economy fails I'm certain it will set off a domino effect across the globe, but are we talking a world wide market crash and financial collapse? What kind of hardships will there be?

I don't want to hear about how we all need to have a weapons depot that can fend off a small army and that it will be like living the real life version of Fallout 3. I'm curious as about the actual ramifications.

Thanks everyone!!

iNkGeEk



posted on Jul, 14 2011 @ 10:05 AM
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Destabilizing (global) domino effect. But w/o Russia and China experiencing the same thing this would leave Russia or China to take the new position.....
edit on 7/14/11 by Ophiuchus 13 because: (no reason given)



posted on Jul, 14 2011 @ 10:06 AM
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The title should be... what WILL happen WHEN the US economic system crashes...

Its only a matter of time...

Heres 1 outlook on what WILL happen...




posted on Jul, 14 2011 @ 10:06 AM
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well it would probably turn into something like what we have seen in Egypt,Libyia and the rest, there would be riots and stealing and killing like never seen before, you name it, I don't want to think about it.. but I think that is what our government wants..



posted on Jul, 14 2011 @ 10:08 AM
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Well i think survival instincts would really kick in and people would start utilising their brains other than their T.Vs.

More private food growers, woodworkers, metal workers, mechanics etc.

Its the handyman era. Time to start building our own houses, filtering our own water etc.


Its gonna get real traditional around these parts.



posted on Jul, 14 2011 @ 10:09 AM
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i guess there would be feces hitting a bladed, rotating, breeze producing device. inflation would insue, with the price of energy and food rising precipiously.



posted on Jul, 14 2011 @ 10:09 AM
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The actual ramifications?

Poverty and violence?



posted on Jul, 14 2011 @ 10:10 AM
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To begin it will be the poor/needy who suffer.

They wont get their SS checks (cheques).........these people will have to rob people/businesses to survive. Small businesses will shut, due to people thieving their stock and because they have no customers.

The school system/education system will grind to a halt as people are un willing to work for nothing....the children will have to stay at home and possibly work to keep the household alive.

You wont have energy pumped into your home anymore, these facilities will shut due to costs they cannot pay to import the raw materials.

Money....Dollars will be worthless (they have been since 1933 but whos counting), you wont be able to buy goods from outside countries. Food will become a major issue as you import a lot like the UK.

The rich will then fall along side the poor. They will have all these material goods that are worth nothing to a starving family.

Life will be hard for generations to come....other countries will fall due to debts owed to the USA....

Its gonna be a sh**y ride for us all.
edit on 14-7-2011 by loves a conspiricy because: (no reason given)



posted on Jul, 14 2011 @ 10:10 AM
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Originally posted by mthgs602
Its gonna get real traditional around these parts.


Thats if Russia and China are not destabalized by nuclear war as well... Because then they would be launching em this a way



posted on Jul, 14 2011 @ 10:11 AM
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Canada would be severely affected by this as Canada is the US's largest trading partner it could take them down with them as well and cause problems.

Now I am unsure if there will be a mad dash for the Canadian border when TSHTF but who knows things might not be much better here after August 2nd, I was in Buffalo visiting from Toronto chatting with someone from there and he said we are both in the same boat when I told him there wasn't much in Ontario for jobs, and New York State isn't fairing much better.

I do believe North America as a whole will collapse, my job I work at is carpentry and I am noticing the consumer confidence in our customers is starting to get lower due to the debt crisis, no one wants to infest in something large like this and find out the markets have crashed.



posted on Jul, 14 2011 @ 10:12 AM
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reply to post by iNkGeEk
 


The US economic system crashing will be a clearly sign of human evolution i guess .

Why we keep money systems running when all they produce is slavery, wars, poverty, and degradation for the majority of people in this planet?. The answer to that is far beyond my comprehension



posted on Jul, 14 2011 @ 10:13 AM
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Originally posted by iNkGeEk


I don't want to hear about how we all need to have a weapons depot that can fend off a small army and that it will be like living the real life version of Fallout 3. I'm curious as about the actual ramifications.

Thanks everyone!!

iNkGeEk




What exactly do you want to be told that will make you feel better?
A review of history will be most beneficial to you in your quest for information. Look to other more recent economic collapses after the Great depression as well.

Countries in Asia will recover much faster than the west as usual. Americans, will probably be stuck like chuck when it comes to options, and unless you know how to take care of yourself I would imagine your screwed.
The government will probably develop some kind of work program but may not hire too many people. The rest wil look for work that may not be there, food that they cant afford, and enjoy houses with little or no heating and cooling. Electricity may be for the average household a luxury assuming there are little or no jobs to offer people an income to pay for such.
Winter is a bitch, people will be hungry, pissed and desperate. Will they hunt you down and kill you? Probably not, but I can assume the crime rate may rise.



posted on Jul, 14 2011 @ 10:15 AM
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Originally posted by iNkGeEk
I really want to know what to expect from a crisis of this magnitude. If our economy fails I'm certain it will set off a domino effect across the globe, but are we talking a world wide market crash and financial collapse? What kind of hardships will there be?


I just posted this in the Ron Paul thread, hopefully it's within ATS rules to copy/ paste your own stuff, but I think it addresses your question:

Basically if we default we will lose our AAA rating. In fact Moodys warned yesterday that they are preparing to do just that. If our rating gets reduced, interest rates will go up immediately. We're talking about bank-to-bank loan rates as well as mortages, car loans, business loans, etc. The economic "recovery", as puny and weak as it has been, has been propped up by the low interest rates. A sudden hike in interest rates will not only kill the recovery, but will likely push us right into a recession. And that's the first shoe.

The second shoe will drop if the two sides in the debt debate refuse to budge and we do default on our debt. The worst fallout from this will be a "crisis in confidence". The American people will stop buying products for fear that they might lose their jobs. Heck, SS recipients don't even know if they'll get their monthly checks or not, there's no way they'll be spending money. Foreign entitites that have been big buyers of our debt (such as China) will stop buying our debt, and in fact may start trying to cash in existing debt while there's still money on the table. If our debt-holders become afraid that their holdings may be at risk, they may divest. That could lead to a run on our currency and our printing new money to cover the debts, which in turn will cause runaway inflation.

So you see, debt default is not an answer to the problem, it's the result of not addressing the problem. And if we allow it to happen it will destroy our country as we know it. Personally I think we'd emerge as a totally different country on the other side with rampant unemployment, broken water/ sewer/ electrical/ road infrastructure, widespread poverty, no entitlement programs, a small disfunctional government, etc.I just don't think people realize how serious this is. I'm in my 50's and have lived through many economic cycles and I am the last person in the world to worry about stuff like this, but this situation has me VERY worried.


Originally posted by iNkGeEk
I don't want to hear about how we all need to have a weapons depot that can fend off a small army and that it will be like living the real life version of Fallout 3. I'm curious as about the actual ramifications.


LOL! You're right, that's not the answer. Sure a weapon or two for self defense is prudent, but preparing for a war is overkill. Look back at the Great Depression, we're probably facing something similar to that and widespread violence wasn't the issue, rampant poverty was the issue. People helped each other as much as they could. Disasters typically bring out the best in people's character rather than the worst. That's not to say it was a happy, pleasant time. I've heard all about it from my older relatives who lived through it and it was horrible. We should do all in our power to prevent it from happening again.
edit on 14-7-2011 by SavedOne because: typo



posted on Jul, 14 2011 @ 10:20 AM
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What would happen if the US economic system crashed?,

It will be stopped in the 11th hour just before midnight, with a merger of monetary policy with canada and mexico,
It will be touted as a cure an evolution and it will be embraced as great, it will generate great relief and wealth and prosperity and it will be quickly followed by the asian and middle east markets.
The crash is a designed transition on the sidewalk of global economic policy toward a unified monetary system.



posted on Jul, 14 2011 @ 10:21 AM
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Originally posted by morder1
The title should be... what WILL happen WHEN the US economic system crashes...

Its only a matter of time...

Heres 1 outlook on what WILL happen...





great video , but they forgot to mention all the banks closing down and the government confiscating all the gold from the people.



posted on Jul, 14 2011 @ 10:24 AM
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reply to post by infojunkie2
 


The video is only the first 12 hours of a dollar crash...

For sure they might "try" to confiscate gold... but knowing how armed america is... I dont see that going very well



posted on Jul, 14 2011 @ 10:25 AM
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reply to post by morder1
 


WOW!!
that's crazy!!

so is hyperinflation a sharp rise in the cost of merchandise? for example, a box of cereal will now cost $25, gas will be $50/gallon, etc?



posted on Jul, 14 2011 @ 10:29 AM
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Oh and something i think that everyone should know to do in the event of riots.

Be sure to put up the sign "YOU LOOT, I SHOOT" I sure as hell would turn RIGHT AROUND!


But seriously, dont get looted and try to help others that are who do not wish to be looted from. HELP THE OLD LADY!



posted on Jul, 14 2011 @ 10:32 AM
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I forgot to mention Canada is preparing to change their currency to a plastic polymer currency for their $50 and $100 dollar bills, it will be a waste if US, Canada and Mexico decide to merge though www.huffingtonpost.ca...



posted on Jul, 14 2011 @ 10:34 AM
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Doom. Utter doom. Utter ultimate, devastating, horrible doom.

And then the White House will put a freeze on prices so rampant inflation doesn't occur, people will still go to work, Idol will still be televised, and life will go on. . . . . . .

UNDER A NEW FLAG!

Duh. . duh. . daaaaaaaaaaah!




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