The US economic collapse will look like this – are you ready for it?
by: Ralph Flores
NaturalNews.com
Tuesday, November 05, 2019
The US has one of the strongest economies around the world, even as the rest of the world is showing signs of cooling and slowdown. In its latest World Economic Outlook, the International Monetary Fund said that the world’s largest economy remains a “bright spot” on the global stage.
Given America’s status of being the economic leader of the world – something it’s been holding onto since 1871 – it’s pretty farfetched to think that it’s bound for collapse. While it’s a scenario many people hope they’ll never live through, preppers should view economics as the “writings on the wall,” so they can act accordingly.
Not like the movies
People think an economic collapse is akin to dystopia. In reality, it couldn’t be further from the truth.
In fact, the US economy already teetered on the brink of collapse, after banking giant Lehman Brothers crashed in September 2008. The bank’s collapse sent the world’s economy into a tailspin, devastating markets around the globe. The aftermath of the collapse was so severe that countries in Central Europe sought billions in IMF loans to keep their markets afloat. In the US, the government implemented a $700-billion bailout to save the then-ailing financial sector and prevent a total collapse.
While the 2008 financial crisis can be considered a “near miss” with economic collapse, what are other scenarios that could potentially trigger it? (h/t to the TheBalance.com)
Hyperinflation. This scenario occurs when a government has to issue large amounts of “paper” money in response to a very rapid increase in prices. In Zimbabwe, a failed monetary policy led to chronic cash shortages and hyperinflation that has decimated the country’s savings twice in just over a decade.
Natural disasters. The economic burden of rehabilitation after a severe natural disaster can also lead to an economic collapse. A report by the Congressional Research Service said that the 2011 Tohoku earthquake and tsunami cost Japan up to $330 billion in physical damages alone. While the world’s third-largest economy was able to gradually recover afterward, it wouldn’t be difficult to imagine what would happen if something as (or even more) powerful hits – like the Yellowstone supervolcano.
Cyberattacks. Modern advancements in technology have improved the way people handle information, but they have also given rise to cyberattacks that exploit this system. A study by researchers from Nanyang Technological University in Singapore revealed that a coordinated cyberattack could cause up to $193 billion in damages and affect over 600,000 businesses around the world.
Spotting the warning signs
While the threat of any of these three things happening in the near future is highly unlikely, preppers still need to understand that they’re not necessarily out of the woods. Right now, there are indicators that a potential economic downturn is looming – you just need to spot it before it’s too late. (h/t to TheOrganicPrepper.com)
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