The Economic Collapse Is Here- Have You Prepared?
By Dave Hodges
TheCommonSenseShow.com
July 16th, 2017
My mother’s side of our American family’s roots are traceable to 1745. One of the names from our family line is Ford. Yes, Henry Ford and Gerald Ford are distant cousins. My family was wealthy and successful in Midwestern politics and in business. The “Jenkins” and “Ford” side of the family owned hotels, real estate and banks.
It could be said that my family had married into the elite of this country and despite all of these advantages, my mother’s side of the family went completely belly up when the “Great” Depression struck following the Stock Market Crash. My mother’s side of the family lost everything, and I mean everything. The economic destruction was so complete that my mother later married into a German immigrant family from a small town in Iowa, following the Depression. This was something that my “bluebloods” maternal ancestors would have never considered only a few short years before.
My mother, although extremely young when the Depression came did not escape the consequences of unsecured investments in a failing economy. I grew up with my mother’s conservative voice in my ear. “Except for your house, don’t buy on credit, save your money, but do not trust your criminal bankers and when trouble visits you are totally on your own”. My mother’s conservatism rubbed off on me and has served me well and my wife is a carbon copy of my mother, financially speaking. Today, except for a small amount on our house, we have almost no debt. Unlike most Americans, I have never paid interest on a credit card.
Because my wife and I grew up with parents who had been burned by corrupt elite members of our society who engineered the Depression for their benefit, I learned these lessons of history without having to live them. However, my family background has taught me we are at the precipice, again, of financial ruin for the unprotected and ignorant masses of this country.
The Coming Collapse
I am awestruck how so many well-intentioned, good people are so ignorant of their history that they cannot see what is coming.
Today, America has insurmountable debt that is impossible to pay off. We have a $20 trillion deficit and that is the good news. Our unfunded and mandated liabilities are an estimated $240 trillion dollar debt. And now the credit swap derivatives debt is a revised $2.5 quadrillion debt and last year’s interest rate on the credit swap derivatives was $505 trillion dollars. The US government takes in only about $2 trillion per year. The entire GDP of the whole planet is less than $70 trillion.
There is no way that these debts can ever be paid down. And on most of our debts, the US is approaching economic Armageddon where we cannot even pay off the interest on these debts.
People often ask me how I can be sure that the economic collapse of America is inevitable and I tell them it is not because World War III or a George Soros engineered civil war could take down America before our debt does. However, if external forces do not take America down first, we are very close to an all-out collapse now.
The Facade of Normalcy
Most Americans think because they have some food in the pantry, they drive to work everyday and the Stock Market seems to be doing well, only the “Chicken Little’s” would think anything bad is coming. However, many economists, including Bob Kudla, who I interview on a regular basis, tell me that economic collapse is already underway. Part of the reason that I know they are right is that I feel it my bones and I know it is true because of my family background, recognizing these factors is in my DNA.
Kudla and others believe that the next collapse will not start with borrowing on margin and the subsequent collapse of the Stock Market followed by a real-estate collapse.
The Rest…HERE
