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11 Economic Crashes That Are Happening RIGHT NOW

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11 Economic Crashes That Are Happening RIGHT NOWThe stock market is not crashing yet, but there are lots of other market crashes happening in the financial world right now.  Just like we saw back in 2008, it is taking stocks a little bit of extra time to catch up with economic reality.  But almost everywhere else you look, there are signs that a financial avalanche has begun.  Bitcoins are crashing, gold and silver are plunging, the price of oil and the overall demand for energy continue to decline, markets all over Europe are collapsing and consumer confidence in the United States just had the biggest miss relative to expectations that has ever been recorded.  In many ways, all of this is extremely reminiscent of 2008.  Other than the Bitcoin collapse, almost everything else that is happening now also happened back then.   So does that mean that a horrible stock market crash is coming as well?  Without a doubt, one is coming at some point.  The only question is whether it will be sooner or later.  Meanwhile, there are a whole lot of other economic crashes that deserve out attention at the moment.

The following are 11 economic crashes that are happening RIGHT NOW…

#1 Bitcoins

As I write this, the price of Bitcoins has fallen more than 70 percent from where it was on Wednesday.  This is one of the reasons why I have never recommended Bitcoins to anyone.  Yes, alternative currencies are a good thing, but there are a lot of big problems with Bitcoins.  Why would anyone want to invest in a currency that could lose 70 percent of its purchasing power in just two days?  Why would anyone want to invest in a currency where a single person can arbitrarily decide to suspend trading in that currency at any time?

An article by Mike Adams of Natural News described some of the things that we have learned about Bitcoins this week…

#1) The bitcoin infrastructure cannot handle a selloff. Once the rush for the exits gains momentum, you will not be able to get out. Only those who sell early will be able to exit the market.

#2) The bitcoin infrastructure is subject to the whims of just one person running MTGox who can arbitrarily decide to shut it down whenever he thinks the market needs a “cooling period.” This is nearly equivalent to a financial dictatorship where one person calls the shots.

#3) Every piece of bad news will be “spun” by exchanges like MTGox into good-sounding news. As bitcoin was crashing yesterday by 60% in value in mere hours, MTGox announced it was a “victim of our own success!” So while bitcoin holders watched $1 billion in market valuation evaporate, MTGox called it a success. Gee, then what would you call it when bitcoin loses 99%? A “raging” success?

#2 Gold

The price of gold was down by about 4 percent on Friday.  Gold has now fallen below $1500 an ounce for the first time since July 2011.  Overall, the price of gold has fallen by about 10 percent since the beginning of the year, and it is about 22 percent below the record high set back in September 2011.

Yes, the price of gold is likely being pushed down by the banksters.  And yes, gold is a fantastic investment for the long-term.  But there will be times when the price of gold does fall dramatically just like we saw back in 2008.

#3 Silver

The price of silver fell by about 5 percent on Friday.  If it falls much more it is going to be at a level that presents a historically good buying opportunity.

Just like gold, there will be times when the price of silver swings dramatically.  But the truth is that silver is probably an even better long-term investment than gold is.

#4 Oil

The price of oil declined by about 3 percent on Friday.  Many will consider this a positive thing, but just remember what happened back in 2008.  Back then, the price of oil dropped like a rock.  If the price of oil gets below $80, that could very well be a clear signal that a major economic crisis is about to happen.

#5 Consumer Confidence

As I mentioned above, consumer confidence in the U.S. just had its biggest miss relative to expectations that has ever been recorded.  The following is from an article posted on Zero Hedge on Friday

Well if this doesn’t send the market into all-time record high territory, nothing ever will: seconds ago the UMich Consumer Confidence plummeted from 78.6 to 72.3, on expectations of an unchanged 78.6 print. This was not only a 9 month low in the index, but more importantly the biggest miss to expectations in recorded history!

#6 Retirement Accounts

According to Wells Fargo, the number of Americans taking loans from their 401(k) accounts has risen by 28 percent over the past year…

Through an analysis of participants enrolled in Wells Fargo-administered defined contribution plans, the bank announced today that in the fourth quarter of 2012, there was a 28 percent increase in the number of people taking loans out from their 401(k) and that the average new loan balances increased to $7,126 from those taken out in the fourth quarter of 2011 – a 7% increase from $6,662.

Of the participants who took out loans, the greatest percentage were to people in their 50s (34.2%), followed by those in their 60s (28.9%) and then by those in their 40s (27.3%). The increase among participants in their 50s was nearly double the increase among those under 30. This is based on an analysis of a subset of 1.9 million eligible participants in retirement plans that Wells Fargo administers.

“The increased loan activity particularly among older participants is concerning because those are the years when workers can start to make ‘catch-up’ contributions and really need to focus on preparing for retirement,” said Laurie Nordquist, director of Wells Fargo Retirement.

#7 Casino Spending

Casino spending is declining again.  Many people (including myself) would consider this to be a good thing, but casino spending is also one of the most reliable indicators about the overall health of the economy.  Remember, casino spending crashed during the last financial crisis as well.  That is why it is so alarming that casino spending is now back to levels that we have not seen since the last recession.

#8 Employment In Greece

Over in Europe, things just continue to get worse.  According to numbers that were just released, the unemployment rate in Greece has soared to 27.2 percent, which was up from 25.7 percent the previous month.  That means that the unemployment rate in Greece rose by 1.5 percent in just a single month.  That is not just a crash – that is an avalanche of unemployment.

#9 European Financial Stocks

European financial stocks have been hit particularly hard lately.  And for good reason actually – most of the major banks in Europe are essentially insolvent at this point.  This week, European financial stocks fell to seven month lows, and this is probably only just the beginning.

#10 Spanish Bankruptcies

According to Reuters, the number of Spanish companies going bankrupt has risen by 45 percent over the past year…

A record number of Spanish companies went bust in the first quarter of 2013 as companies remained under intense pressure from tight credit conditions and meager demand, a study showed on Monday.

The 2,564 firms filing for insolvency proceedings in first three months of the year was a 10 percent rise from the previous quarter and a 45 percent increase on the same period in 2012, the survey by credit rating agency Axesor said.

#11 Demand For Energy

Just like we saw back in 2008, the overall demand for energy in the United States is falling rapidly.  There are some shocking charts that prove this that were recently posted on Zero Hedge that you can find right here.

Yes, it is good for people to use a bit less energy, but it is also a clear indication that economic activity is really starting to slow down.

But despite everything that you have just read, the Dow and the S&P 500 have been setting new record highs.

And if you listen to the mainstream media, you would think that this stock market bubble can continue indefinitely.

Fortunately, there are a few voices of reason out there.  For example, just check out what Marc Faber recently told CNBC

In the near-term, the U.S. stock market is overbought and adding that any more near-term gains portend big trouble for the market, “The Gloom, Boom & Doom Report” publisher Marc Faber told CNBC on Monday.

“If we continue to move up, the probability of a crash becomes higher,” Faber predicted in a “Squawk Box” interview, saying it could happen “sometime in the second half of this year.”

As I have written about previously, a bubble is always the biggest right before it bursts.  I hope that we still have at least a little bit more time before it happens, but I wouldn’t count on it.

The economic fundamentals tell us that the stock market should be plunging, not rising.  At some point the boys over on Wall Street will get the message and the market will catch up to reality very, very rapidly.

But for the moment, the American people are feeling really good.  According to CNN, Americans are now more optimistic than they have been in six years…

As the stock market continues to show record highs, the number of Americans who say things are going well in the country has reached 50% for the first time in more than six years, according to a new national survey.

So what do you think will happen for the rest of the year?

Do you think that the good times will continue to roll, or do you believe that the bubble is about to burst?

Please feel free to share your opinion by posting a comment below…

A Market Crash Is Coming

  • Tim

    “So what do you think will happen for the rest of the year?”

    It’s so hard to say. I’m amazed that things are as good as they are now.

    • Mondobeyondo

      im, so am I. Actually, our economy is pretty much roasty toasty right now. But you won’t ever hear that from the mainstream media.
      For everyone else…
      There is no recovery. I just told you. Take it for what it’s worth.

  • leeholsen

    I’m down for a collapse this year now. I was thinking 2014 when Obamacare goes on full power, but there are just too many landmines now(Japan blowing up its monetary policy, N. korea talking itself into war, the middle east just needs one thing to go badly and the whole region could be at war and europe gets closer and closer to a depression every week). and thats just what i can think of as daily news.
    there is no way, no way; the world makes it through 2013 without some spark or fire that is occuring today does not blow up and set the whole world into a depression at best and war at the worst and i was optimistic in January that the US might muddle thru the next few years; but there are too many things now that are just set to be real trouble for the world.

    • As Europe crashes, they will send their money to the US dollar for safety. (yea imagine that). So I see the dollar gaining strength for the next 12 months. Then I see a great worldwide crash. no safe place left. I predict we all have till mid 2014 to get your house in order. God will be your only safety net.

    • Ralfine

      I have two (google) news links:

      “epidemic” and “outbreak”

    • Ayn Rand

      Just like my comment on the above post. Me and my History teacher are in disagreement about the economy. He says it is recovering. I say that we are heading for recession (didn’t say collapse to make him think I was a “doom and gloomer”). We decided to see who would be right by the end of the year. I am enjoying the thought of saying “I told you so.”

      • Filldaddy

        guess you were wrong…again!

    • Filldaddy

      so much for your soothsaying…

  • RushedLimbo

    Who the heII knows? We’ve never been here before…

  • smallergovnow

    Good post Michael. Best of Luck…

  • re: BitCoins. I think Nick Adams misses BitCoins two fundamental flaws. But first to his points.

    1) Like you have never heard of delayed trading or suspended trading on other stock exchanges or freezing a stock at the whims of the exchange mgrs?
    2) MtGox was not the only exchange running. They closed down because of a DDOS attack.
    3) I find comment in particular very funny. I presume Mr. Adams has not watched Cramer any length of time??

    There are two flaws that will need to be addressed. A) The coinage is not broad enough so any number of concerted buys or sells drive the market nuts. Time will cure some of this. B) The chain or ownership (proof of work) is getting longer by the day. A means needs to be devised to compact the chain at appropriate intervals to reduce the resolution time for clearing a transaction.

    BTC for wealth storage is a fools errand.

    • Mondobeyondo

      Bitcoins, on the surface, seem like a good idea.

      But you have to wonder – what is this “currency” based on? Any tangible assets?

      If it is not, then – bitcoins are simply another fiat currency. There’s already signs that this may be true. Bitcoins have lost SEVENTY PERCENT of their value in TWO DAYS?? Huh? What?!?

      Not a steady foundation if you ask me. Whatever is keeping bitcoins afloat, must be rapidly losing their influence and therefore their value.

      • DownWithLibs

        Yep, all digital currency. Not a good thing.

  • Raymond Chow

    They can collapse the paper for all commodities (oil, gold, silver) until comex collapse but do they think the actual physical commodity will collapse to the price of paper?

    If oil in the commodity market went down to $1.00 per barrel because all the investors sold their shares, will Saudi Arabia or OPEC sell their oil at $1.00 per barrel? They might as well close down drilling because production cost more than the price. All this manipulation by the money makers is just a ploy to get everyone to sell so they can own everything bought with worthless computer input.

  • Jodi

    The only excuse I can think of when things start getting real bad is Obama will blame sequestration. It’s coming, you watch.

    • Horse

      With the party’s they are having at the big house..
      you’d think their are money trees growing all over.
      But they can’t afford white house tours and public things to make a big deal out if the sequestration that obumma helped create in the first place.

  • K

    Michael once again a well written and very detailed article. Never understood bitcoin. With most Governments, having kill switches for the internet. Why would anyone choose an internet based money? And yes if silver meets my target price, even I would be in the market to buy a little more.

    • chavster77

      K, this is my first post. I’m sad to use it to point out your annoying use of periods in places they shouldn’t be. I do enjoy your posts, but I know it’s got to be annoying lots of people.

  • Paul

    I am going to use my tax refund to continue to stock up on food and other supplies necessary for survival.
    I read a study that stated the average American has a 3 day supply of food in their house.
    It is good people are hoping for the best. However, due a dysfunctional economy, people are not preparing for the worst are cruising for a bruising.

    • Jodi

      According to one of Michaels articles recently around 3 million people are preparing, it sounds good but not enough. Let’s hope that number is much higher than that. But I can guarantee when the SHTF the low information voter will be crying “why didn’t anybody tell me.”

      • DisgustedWithAdmin

        With the population at 313 MILLION, 3 mil is only about 1% of the population. At least NOW WE’LL BE THE 1%, who knew…

        • jokyjo

          Awesome comment!

          Now, if we can just get rid of the current 1%’ers everything would be fine.

        • Mondobeyondo

          I hear ya.

      • Paul

        Only 1 percent of the population is prepping if the 3 million figure is accurate. If more people got their information from sources other than the mainstream media that figure would be higher.

        • DownWithLibs

          A friend recently told me that she has heard that there are more preppers than people think. They are just smart enough to keep their mouths shut.

          • Mondobeyondo

            Faux ignorance is bliss…

    • Rodster

      Yes it’s true that the average household has only a 3 day supply of food, thanks in part to the “just in time delivery” system.

      I just purchased a 12 day supply of MRE’s and I got 2 cases of Chef Boyrdee products. They last about 2-3 years and you can pop open the flip-top can in case there’s no power.

      As Michael says, food is still relatively cheap and if the worse happens you can always barter. Freeze dried coffee is also to stock up on including toilet paper.

      • K

        Rodster, store those pop-top cans carefully. If those pull tabs just get bumped in shipment or storage. You may no longer have a perfect seal. You will notice, the more expensive canned foods, do not use pop-tops. Always a good idea, to have a couple hand cranked can openers. Not telling you not to buy them. I know we all have to get what we can afford. Just check the seal as you buy them. And in an emergency, try to use them first.

        • Rodster

          Thanks for the info !

      • JoeD

        Grazing on grass would be healthier than eating the garbage you bought.

    • Rodster

      And PS, don’t tell anyone you are prepping unless you trust them, are fellow preppers or are in your immediate family. 😉

      • Paul

        Some family members call me a doom and gloomer. However, all the numbers I see are very gloomy. So I think I and most of the people who visit this blog have a realistic view of how bad a shape our economy is in.

        • Rodster

          Then there is your answer. Never mention your prepping to them again. And you are NOT a doom and gloomer but a realist.

          When one depends to be spoon fed by the main stream media aka infotainment then you expect one to think that the Govt or Media would never lie to them. It’s also the “Normalcy Bias”. It sucks because you can have the IQ of Gary2 and still realize that something is wrong and something REALLY BAD is about to HAPPEN.

          So my advice is to listen to yourself and be like Noah and prepare for what will eventually happen.

          I’ve been coming to this site since 2010 and while an outsider might say it’s all conspiracy the truth is it’s ALL developing and taking place.

          • Paul

            I asked 10 co-workers who are in finance positions if they knew what our “official” national debt was. Eight had no idea. One said in the trillions. The last one was close at 16 Trillion. Remember the dollar value of our offical national debt was brought up over and over again during the election. More people are becoming aware of what is happening today. However, even now most people even individuals in finance probably will be blindsided by the economic storm that is coming.

        • markthetruth

          #12 Brazil’s economy beset by inflation, lagging production

          Google and Read and Give it to them to read. This is what is happening to them for Living to High on the Hog. We are in worse shape, wait to we hit the Fan.

          the end…

        • Jodi

          It’s interesting how family members feel about all your doom & gloom. I have a family member who tells me “just be happy”. What she doesn’t realize is that I am happy. I don’t want to see a collapse to happen but at least I know I’m prepared & it puts my mind at ease.

          • Paul

            I am pretty happy as well. However it is sad to see so many people out of work and suffering.

        • Mondobeyondo

          Hate to say it, but it is pretty doomy and gloomy out there. If you don’t see the light, you’ll perish in the darkness.

        • Ayn Rand

          My History teacher (a good person, sometimes he irritates me though) likes to say the economy is recovering. I have set out to prove him wrong, but he refuses to believe it. I mention the REAL numbers and he doesn’t realize just how bad they are. I said to him we will have a MAJOR recession by the end of the year. He said that we will recover. So we ended with “We will see who proves the other wrong.” Can’t wait to rub it in his face.

      • Ralfine

        I don’t ever mention any prepping to family. I even have to hide my food supply from immediate family members, or it’s used up right away, or I get into fights for wasting money. So nobody knows that I have a month’s supply of rice hidden among the books in the book shelf, and cans in hidden compartments below the platform bed. 🙂

        And the cash hidden in various places.

        Spent the last months repairing and maintaining old things. Sharpening tools. Leather care, sewing, cleaning, experimenting with different cleaners and leather care products, employing local service providers. Cleaning out the house of clutter, giving to charity what I won’t need anymore. Clearing storage space. Learn to cook with basic ingredients.

        And here the good news: the sun is coming out. Winter is over. The herbs are growing in the pots indoors, ready for planting out into the flower bed.

        Doing some more veggie sowing today.

        • chilller

          Ralfine…you WILL be the family’s hero when hard times arrive. And when that time comes, they will not only listen to you, they will look to you for your guidance and wisdom…you WILL be the head of your household. Good job.

    • Mondobeyondo

      Wow! You’re getting a tax REFUND?!? Uncle Sammy is asking for my money.

      If I were getting a refund, I’d pay off the essential bills and stuff (that’s obvious). And then buy up as much physical gold and silver that I can – buillion, coins, necklaces, rings…) – and find a safe place to store it (NOT a bank safe deposit box! That’s the LAST place I’d choose!!!) What would I choose instead?
      – A trusted relative (be careful! In such a situation, “trusted relative” can be an oxymoron.)
      – Store it in a home safe. You can buy one at Walmart or Sam’s Club.

      • Paul

        Thanks for the information Mondobeyondo.

        • Mondobeyondo

          You’re welcome 🙂

          • Shtfjan

            A home safe from Walmart or Sams is cheap. Buy a quality home safe like a Liberty safe. Worth the $$$.

      • cherylmeril

        LOL, they’ll obviously know it’s in your home safe and cart it off with them. A safe isn’t safe at all and the biggest target there is.

        • Das

          Yes and no. Sure no safe is fool proof, but do it right and only a pro thief can get it. Mines over a thousand pound, bolted to the concrete floor in the basement. No average thief is going to get that. It would take an army to get it out. Or maybe a few D.H.S members

        • Mondobeyondo

          Das beat me to it. Yes and no.
          If they want what’s in my safe for example, they’d have to crack the combination code, or use a dynamite bomb. Maybe a sledgehammer.

          • the realist

            Or maybe a gun to your childs head

  • Jodi

    Without a doubt a collapse imminent soon. That’s why they are pushing gun control so hard. From what I understand the bill hasn’t been fully written yet and nobody is going to read it. They just want it to passed so that when the economy collapses again you can no longer defend yourself. Oh by the way I want to thank speaker Boehner for his push for gun control & immigration. Thanks for throwing the American people under the bus you creepy guy.

    • DownWithLibs

      Don’t they have to pass it first to find out what is in it? A famous quote from another creepy “American”, Deer-In-Headlights Pelosi. 🙂

      • Jodi

        Yeah, I’m not sure which one is creepier Boehner or Pelosi heck lets add Reid to the mix too.

  • Mondobeyondo

    Just further evidence that the entire global financial system is built on a house of cards. Some little piggy or piggies, in the U.S. or international level, is going to huff, and puff, and blow the whole thing down. Oh, how we will all pay when (not if) that happens.

    The stock market, just like the pharmaceutical industry, Social Security, college aid grants, etc. is just another Ponzi scheme. If you get in early, you’ll reap the benefits. Get in late, and you are royally screwed.

    • Ralfine

      IMHO, the whole point is that wages are too low, so that people are dependent on loans to participate.

      If you have wages you can live off, you won’t need loans, and save a lot of interest payments.

      If you can accumulate wealth, you can use next month’s income to add to your wealth instead of just replacing what you have lost this month.

      In university we learned that “the ‘product’ of hardware and software remains constant”.

      So, to get the same result, you can have good hardware plus bad software or bad hardware plus good software. So, if you use the good software you made for the bad hardware, and use it on better hardware, you are getting somewhere.

      With newer programming tools and languages time to market might be shortened, but not program execution time. I started with assembling language programming. I like the approach of OpenBSD.

      So, if you put in a bit more brain, you can make old hardware performing better. Instead of buying a new computer, I made it faster by replacing Windows with Linux.

      You can extend that to other sectors as well.

      You can build houses from bricks. These bricks could be solid. Or they have holes in them to provide insulation. You could also mix the clay with organic compounds that burn in the oven creating tiny little bubbles inside the brick, providing much better insulation and still have structural integrity. These bricks also become lighter, so you can make them bigger.
      There is a company that makes machines to shredder old money to make small little pebbles that can be added in the brick industry.

      You can spin that idea further to create fireproof and tornado-proof buildings that allow you to accumulate your wealth, rather than replace all your possessions every 5 years.
      AND reduce heating and cooling costs at the same time.

      They say, in China the character (or pronunciation) for “Crisis” is similar to the one for “Opportunity”.

  • Ms. Anne Thrope

    Barter goods: Whiskey, rubbers & silver coins

    • Ralfine

      Barter goods: female hygiene products, sweets, toilet paper, spices, and skills.

  • JulRan

    I’m feeling pretty apocalyptic these days. Reading this blog doesn’t keep me from prepping, that is for sure. that only 3 million are prepared for a complete collapse is alarming. If those are heads of 4-member households, that is only 12M of 330M Americans. The streets will be filled with people scouring for help and food. Others have listed a variety of global signs in this comment area and I agree that we are mighty close to a collapse. I wonder if a mammoth lie (or series of them) could keep us from truly knowing that a collapse was in progress. We all feel the decline deep down… when will we go all the way down the hole?

    • Mondobeyondo

      It means that 100+ million of our fellow Americans are totally clueless. They will be the victims, not for lack of knowledge, but for lack in belief. The normalcy bias has consumed them. Life will always be good, and American Idol will always be number 1, and you will always be employed, your children will always be employed, your children will be chemists at MIT or rocket scientists at NASA, and you will have a comfortable retirement.
      Oh really?? Ummm, first off. About NASA. Have you see what’s been happening to NASA lately? Your boy/girl is gonna have to hitch a ride on a Soyuz space station to complete his/her scientific goals. Now, it’s common to throw about the most recognizable catch phrase of the past 3 years:
      “It’s Obama’s fault!!”
      Maybe it is. Maybe not. Can’t say.

      • Ralfine

        Just remember, it was the Russians who won WWII, not the technologically superior Germans.

        The Germans built tanks by engineers.

        The Russians built tanks that could be repaired by farmers.

        This current recession was caused by banksters, MBAs, marketers and sales people. To get out of it we need more farmers and craftspeople.

      • JulRan

        I’m not very sanguine about the prospects for my children. My oldest, 27, is on a career path. The younger two, too young to be there. I say nothing while my college freshman son debates majors and his future. I just don’t know what he should plan for. Time will tell. America is headed for a great fall…. God punishes a people for what they condone…. just look at the filth and death Americans turn a blind eye to. We should be ashamed, yet there is no shame in this destitute culture.

        • Louise in MO

          I agree. God has definitely removed his blessing and the hedge around America. He no longer looks our way. We have permitted abortion for any reason and gay marriage is soon to be the law of the land.

          Matters not if you and I agree…….He makes the natural laws and they aren’t to be trampled.

          So….saying God Bless America all you want….don’t think it will happen!

          • Tomburst

            Why do so many think that god blesses/has blessed America?? God is NOT american,or of any other nationality. He once favoured Israel,but they rejected messiah and lost his blessing. In the Christian Era INDIVIDUALS can have his blessing,but NOT nations. 1john5:19 ‘we know we(Christians)originate with god,but THE WHOLE WORLD is under the control of the evil one’ The ‘whole world’ yes that means America too. The Stars and Stripes are NOT flying behind gods throne,neither is the flag of any other nation.

          • Lulu012

            Israel has not lost God’s blessing! They are flourishing and prospering on land that was once desolate and yes they are surrounded by enemies but their economy is strong and even booming while almost every other country is struggling or crumbling. We are a perfect picture of a country God has removed it’s blessing from, I do not think Israel is.

    • I read Michael’s articles regularly(rarely comment) but originally found it through a link from Christian site. I know there are other “TRUE” Christians on here. I just wonder as I try to really imagine scenario, with mothers and children, others out there hungry,hurting, desperate, should we just Lock up, Close the blinds, ignore it all? Do we remember Jesus saying that “We helped Him when we helped the least of these” Brothers and Sisters. I think I will have a real tough time in this situation. Obviously not with every person scouring around wrecking things to harm or steal, but innocent victims of ignorance that we know so many are, even other Christians. Do we share and Trust in HIM thru Faith that HE will provide, or do we trust in our own smart, wise prepping behavior that we worked so hard to get ready for and shun HIS other children. If so do we please our Lord or do we Fail our Lord and risk having him say He never knew Us.
      Just thinking out loud and things through..Not trying to promote guilt, because I myself am unsure of how I will/would react. Any thoughts?


    off topic, but I am glad I am a prepper. woke up this morning no water. something happened to the wellwater pump, but hit the faucet to make coffe nothing came out. fortunately i have extra water, used it to make coffee, wash,brush teeth, flush the toilet etc.. (although in a real emergency I wouldn’t use my drinking water to flush the toilet). got the pump fixed, my father came over to help (used another gallon priming the pump).
    which thinking about it later, it really is the point of prepping… to try to keep life as normal as possible no matter what happens. yes, i realize no water isnt teotwawki (unless you cant fix or get anymore) but my preps made the situation not that big a deal. might even help get my wife on board with prepping.

    • DownWithLibs

      It does rock to be ready!!


    I am going to buy more Gold and silver just going to wait to see just how far it falls.

  • I work at a car battery plant in Florida and I can tell you are shipments have dropped dramatically. In my 7 years at this company I’ve never seen it like this.

  • Paul

    Below is an exchange I had with someone on Yahoo. I am putting this up to illustrate how some people absolutely refuse to believe our economy is getting worse. Below is my initial comment. Then see Mark’s responses.

    Paul: None of the data spewed out by the U.S government or in Europe is sound and reliable anymore. The BLS report for March because the 7.6% does not include people who have had their benefits run out, are underemployed, or receive disability. Also instead of a 17 Billion Euro bailout Cyprus will need a 23 Billion dollar bailout. Would not surprise me if the 23 Billion Euro bailout requirement in place now is revised upward again.

    Same issue applies to media reporting as well. One day the media is touting an robust economic recovery. Then the next day, mainstream media is reporting poor retail sales and consumer sentiment metrics

    Mark:Paul, get some new lies. You’ve been corrected many times. Unemployment percentage has nothing to do with getting benefits or not.

    Paul:Mark! How is it going buddy! Make sure you use the 30 minutes you have on the public libary computer you are using wisely.

    I must be fibbing 40% of Americans who are unemployed have been out of work 6 months or longer.

    Another complete fabrication is 1 million children enrolled in public schools are homeless. This is a 57% percent increase since 2007.

    Mark, I understand if you cannot respond to the facts I presented to you. 30 minutes is not a lot of permitted usage time.

    Mark: Wow, did you try to avoid the issue? why, yes, yes you did! We noticed. You got caught telling the same lie and had no answer, AGAIN. “the 7.6% does not include people who have had their benefits run out” is a blatant lie. You’ve been called on it before. Since you’re not too bright, I expect to correct you on it again

    Paul: You should take a look at page 4 of the March Bureau of Labor Statistics report. The employment-population ratio is 58.5%. Also take a look at the trends below.
    As you can see there has not been any improvement in the employment-population ratio since March 2010.

    March 2010: 58.5 percent
    March 2011: 58.4 percent
    March 2012: 58.5 percent
    March 2013: 58.5 percent
    Based on the trends and statistics above, it look like the official unemployment rate of 7.6% being reported is complete nonsense. The official unemployment rate is going down while the employment-population ratio is not.

    I think I asked you last week why you thought the economy was improving. However I did not get a response to my question.

    Mark: Wow, you still can’t address the subject. Does that work at the trailer park?

  • MichiganBabe

    Good times? They must live in ivory towers; unemployment is staggering and people with multiple degrees in finance and engineering are out of work, just like the New World Order intends.

    • I just keep thinking about all those poor people. They are soooo under the radar.

  • Squashpants

    Yes, I have decided that getting silver coins, mainly the so-called junk silver, may be more practical for transactions post-SHTF than gold. Can you imagine going to the local store and buying 100 dollars worth of groceries (a bag, by then), presenting a Kruggerand and waiting for change? Change in what? Am I off-base here. If so, clue me in.

    • Rodster

      I’m not an expert in PM but your approach is my reason for getting Silver. I’ve been told that the price maybe manipulated down so if you can wait do so and deal with a large reputable company and have them send you your silver. And store it.

      • Thanks for the response, Rodster! I am concerned about practicality and “transactionability”, and the issue of “change returned”. Big silver coins, like Polar Bears, seem to be to not be practical for buying groceries, for instance. And how will sellers who will accept silver in payment determine price and what a silver (or gold for that matter) coin will be worth in a transaction? Convert it to dollars first?!?! Any thoughts?

        BTW, I am Squashpants. I just signed in under my Facebook identity for this reply.

        • Rodster

          I can’t answer any of your questions since i’m not an expert and like Michael I don’t want to give any advice. I can only speak for myself.

          If the worse happens and we are looking a global financial collapse then commerce will come to a halt. At that point bartering will be a persons best option, that’s why stocking up on food and supplies can be used to barter as well as any skills you might that someone can use.

          Precious metals serve two purposes. 1) It’s not fiat currency and will always be worth something. 2) It can be used in the post financial paradigm.

          I would not convert my PM into fiat currency until the new financial paradigm stabilizes.

          • Let’s hope the new financial paradigm currency is not simply another fiat currency. But it does make sense to me that you could accumulate PMs and convert after things settle down. And I AM collecting things to barter. But overall, I am trying to get us to a point of self-sufficiency where we will need very little exchange media.

    • Mondobeyondo

      I think buying “junk” silver is absolutely a good move. That’s just Mondo’s opinion though.
      Oh BTW – my parents didn’t think of the coins they spent in the late ’50s- early ’60’s as “junk”. They thought of it as “money”, “spare change”, etc.They used those coins to buy ice cream, pizza, hot dogs, soda, etc. when they were in high school. Yes, I can’t believe it either!
      And yes, there really is real silver in U.S. pre-1965 dimes, quarters and half dollars. 1965 and beyond – no.silver in those coins. Ever check your wallet or purse? Check how many pre-1965 coins you find.
      I was born in 1965. I feel cheated.

  • kathym2

    I can see things are getting worse. Why cant others see it? Or maybe they just don’t want to see it or acknowledge it.

  • Stacey

    I hear Mormons are getting robbed lately as Mormons are essentially preppers. A freind said preppers in Utah were also being robbed. Anyone else hear anything?

    • Orange Jean

      I hadn’t heard that… but it’s true that prepping is part of the religion (I used to be LDS). People are strongly “admonished” to stock up a years supply of food; I have known quite a few who do that.

      • Jodi

        Yes, they do believe in being prepared and they do encourage it in the church. I live in the best state for an economic collapse but I also believe that there are plenty that are nowhere near prepared for what is coming. Mormons are asleep too.

    • Jodi

      I live in Utah & I haven’t heard of any robberies but who knows the local media is just as bad as the national media. I personally don’t believe that every Mormon is a good prepper. I’m surrounded by them & you wouldn’t believe how optimistic some people are here. Interestingly enough though, one of the local news networks here, KSL will talk about food storage once in awhile but they will only touch on major disasters such as being prepared for an earthquake never an economic collapse. You would think, KSL owned by Mormons would want people in this state to be prepared for anything. It’s such a shame.

  • Severus

    trouble is brewing…layoffs are coming…I have already seen several personally in my small town

    • Louise in MO

      Granddaughter went from 32 hours a week to 20 hours a wekk in one day’s time….health care they say.

      I have friends who have lost jobs, home, cars etc. These people have been middle class all of their adult life. Very tough times.

      We try to help all that we can and then some. This is a time in America when you will definitely know who your friends are!

  • GSOB

    “…there are signs that a financial avalanche has begun.”
    Half of the signs I don’t understand, but I will learn later on, I trust. Can’t argue with you based on these symptoms…, but cities going bankrupt across the nation is definitely erosion. Inflation on food prices I can see at the local grocery stores.
    Restrictions on our gun rights.
    Growth of FEMA camps and the bulk load ammo purchases by the government.
    Full realization of nationalized health care around the corner.
    Sooner… the American propaganda
    N. Korea / Iran ruse to unfold in a last ditch effort to save the petrodollar. This country will go to war to keep the global currency in tact.
    We’ve been controlling the world by our technologically advanced, military force.
    Government… a necessary evil because of evil.
    2013 is not going well at all so far.

  • Ajax

    I think it may be a good time to ensure you have at least 6 months of food & water.

    Rice, beans lentils, corned beef, oatmeal,canned fish & milk & V8 juice are relatively cheap & nutritious items if you can stomach them. Don’t forget sugar
    Have been watching this H7N9 flu developing in China .No one can tell yet if & where it will spread & how fast. My guess is there is at least a 10% chance that it will be a big big deal worldwide within a couple of months .
    If we are lucky it will fizzle out , but while the chances are still small that it takes off, the consequences will be huge & until an effective vaccine is developed or the epidemic burns itself out , social isolation is the best defence & you will need your stockpile of essentials.

    In any case as pointed out many times on this blog a stockpile is a wise insurance against many types of SHTF type situations.

    • Ralfine

      It’s April. The flu season is basically over in China. As the virus is seen in wild birds, and pigeons, you can expect to come to America earliest at the end of this year.

      Preparing for that virus is basically preparing for some time away from masses of people close together, like public transport, concerts, shopping malls, etc.

      And if the epidemic really hits you might face martial law and people running out of food because truck drivers get sick, and hospitals are overwhelmed, and with nurses getting sick first, you just need a few shot people before everything grinds to a halt.

      But then, without close contact, the epidemic will die out.

  • Orange Jean

    Where I grew up (New England) it was the NORM to store at least 2 weeks food; checking the freshness of one’s stock each fall. The idea behind that was because you might get stuck in a blizzard or hurricane otherwise if the power goes out. So, I’m surprised to hear the average of 3 days only.

    And oddly enough, even my very liberal boss… who is 30, recently started prepping. She bought a whole stock of MRE’s and has been telling this to the people she supervises even; we kind of poke fun of her, but only in the way of suggesting maybe stocking up on canned goods would be more tasty… as a couple of the guys who’d been in the Army have had to eat MREs.

    As to me, I’ve decided it’s high time to get more neighborly with my neighbors. In
    particular, the younger-than-me guy who likes to hunt and fish. I like to garden, so maybe we can barter skills. He seems like a nice enough guy; divorced with 2 little girls who live with him 1/2 time – the girls and I made friends first.

    • K

      Sounds like you have a plan in the works. Good for you. The 3 days worth of food does not surprise me. There has been many a refrigerator, I have opened, and seen nothing but beer, condiments, and leftover takeout.

  • Orange Jean

    My father, who was in the Great Depression as a teen and young man… always called land “depression-proof”. Now unfortunately the cost of buying land in many areas is cost prohibitive to many people (at least in terms of buying with cash); but if you have a lot of money in a bank, it might be a good idea. Keep enough money in the bank to cover the taxes on the land for several years though… and consider buying modest properties that you could rent out.

    Unfortunately I don’t have enough cash reserve to follow that advice, with the cost of land these days (in contrast to… my father’s first real estate purchase was 10 acres of land (1/2 woods and 1/ fields), with an old blacksmiths shop from the days of George Washington’s horse… that had been converted into an owner-occupied 2 unit house (one floor to rent, the other to live in).

    • Rodster

      The other problem today is Rehypothecation where what you think you own, you really don’t. We saw that in Cyprus and with the Germans having to wait 7 years to get their Gold back. So in today’s economic world, land is no longer a lock. When the economic system collapses, expect Govt’s confiscating whatever they can get away with.

    • Ralfine

      I wouldn’t rent out land. I’d use it. You won’t get any money from people who don’t have any, and you are getting the problem of evicting them.

      And who knows what they are doing to your land when you don’t have control over it?

      If you don’t know what to do, plant some trees. Make a hedge along the borders. Trees and hedges disrupt laminar air movements close to the ground necessary to create dust devils.

      • Orange Jean

        The time I’m talking about was in the 50s; I personally do not own any land, but if I had enough money to get some I would in fact prefer to use it rather than renting it out. But it helped my family at the time to get by and I don’t think that was a bad idea. Each family’s situation is going to be different.

  • Mustard Seed

    The whole fiat economic system will continue to diminish while the new world order will continue to develop and increase its economic control. The old system fades out while the new system fades in.

    The bottom line is most of the world’s population is being forced into a reduced economic capacity. Very few people are seeing improved economic circumstances as a result of the worldwide crisis.

    Homes have been devalued. Jobs and industry have been deported. Wages have stagnated. Taxes increase every year. The same for necessities and insurance. Savings accounts pay almost no interest.

    How is the middle class going to survive? It isn’t. All of the traditional economic mechanisms necessary to sustain a middle class have been destroyed.

    Economic slavery is the new dynamic.

    • Ralfine

      What are “traditional economic mechanisms necessary to sustain a middle class”?

      • Mustard Seed

        mechanisms to sustain middle class I discussed in third “paragraph”

        My husband and I were in the middle class, because we worked our tails off to get there. Both of us came from extremely poor families, and we absolutely understand the fine line between middle and low income. We are not looking down on those “beneath” or trying to keep them “in line”. Just trying to do the best we can and help others to do the same. We
        are not ashamed of that. In fact, that is what God wants us to do.

        You think those who have “means of production” are any different than those who don’t? I don’t. Bad people exist in all classes, and so do good people.

        There is a difference between “selling your soul” and investing your time, labor and, yes, even your soul for the betterment of society. Not everyone will become rich, but everyone can benefit.

        Frankly, I don’t believe there is a perfect society here on Earth, because that only exists in Heaven. But there was a time in this country where The U.S. was the best on this planet. Millions of people from all over the world came to this country, because it was better than the place they left. Yes, we had basically three classes, but even the poorest of the poor had opportunities.

        All of that is changing, because we have been letting the Godless and the materialistic control everything.

        • Ralfine

          Tell you a secret. The godless have always been in control, they use god to keep the lower classes in line to increase their own wealth: “Don’t complain, it is all fate. Keep praying and you will feel better.”

          • Mustard Seed

            So you think the ideas of Howard Zinn are better? A little anarchy…a little socialism? “…hey, let’s have a kinder, gentler society. Let’s share things. Let’s
            have an economic system that produces things not because they’re
            profitable for some corporation, but produces things that people need.” Yeah, like socialism is suddenly going to cure humanity of its greed and materialism any more than capitalism did. Don’t know what theology you ascribe to if any, but you don’t have a single solution.

          • Ralfine

            You cant get a solution from ebay, amazon or walmart.

          • Mustard Seed

            LOL! Agreed!

  • drbuzzsaw

    Take a cue from Iceland and JAIL the Banksters, THEY owe the money NOT US. Now Iceland has turned the corner and is recovering with out resorting to stealing account holders money or austerity. The world could learn something from Iceland.

    • Nexusfast123

      Or what was done in the 20’s and 30’s to sort out the bankers. We never learn from history do we and are now destined to make the same mistakes but on an even bigger scale.

    • Alasha


  • April 15 th is the shut off date or cold weather rules end,, here in Minnesota .All gas,electric ,heating,and water will be shut off for non-payments. We still have 4 inches of snow on the ground and 28 inches of frost below ground. Michael,, I have read that 3 million people here in MN. will be shut -off… What is going to happen???

    • Dunno. I’m in Northfield, and I am having no problems paying my electricity bills.

      • iceman

        Hi Nathan! I live in Bloomington and I live within my means with only one adult working in my house and while money is tight, we get by okay!

  • Sean

    All bubbles eventually go back to the level they began at. Which will benefit most people under the age of 50, the younger you are the more you will benefit from the deflation that is coming, probably beginning this summer.

  • It is crazy how stupid and clueless this country has become I can tell you that when the SHTF there will be blood flowing in the streets of America.

    • El Pollo de Oro

      Jesse Marioneaux: “When the
      money stops flowing down to the man on the street, the blood begins to flow in
      the streets.”—Gerald Celente

      And flow it will. Between major civil unrest (mega-riots, looting galore) and The Desperate People Doing Desperate Things Tax (carjacking, kidnapping, violent home invasions), there will be an absolute bloodbath in The Banana Republic of América. If Detroit, Oakland, Baltimore, Philadelphia and Los Angeles are violent and crime-ridden even in the best of times, imagine what they will be like when Americans are facing economic conditions even worse than The Great Depression of the 1930s.

      • DiscouragedOne

        You forgot the worst one, Chicago.

  • jokyjo

    It is truly amazing that anyone could be optimistic at this point. Of course most of the sheeple will probably think everything is ok right up until they close their local grocery store or after it is looted.
    Those that run the media should be held liable for all of the disinformation that they have put out over the years. It is criminal what they have done.

  • Paul

    You know things are bad when states like Maryland impose a “Rain Tax”

    Formally known as the “storm management fee” residents will incur taxes based on the surface area of a property and interference with water runoff

    This is an outrage in my opinion. With wages going down and the costs of everything else going up the Maryland policians are showing no mercy by making imposing this idiotic tax.

  • Ralfine

    Interesting. I became aware of the rising gold price when the price was at $240. Having no clue as to what was high and what was low, i did’t buy at that time;
    or any time after.

  • Ralfine

    Before the crisis just a few years back the oil price was $28. So even a price of $80 is pretty high.

    And remember: the US has now more oil than everybody else and will change from a net importer to a net exporter. That alone should drive the price to below the $20 mark.


    • Nexusfast123

      Does not matter if their is no demand in the economy. Consumers cannot consume as they are maxed out with debt, have crappy low paying jobs, no jobs, etc. A collapse in energy prices is sometimes a precursor to an economic slowdown.

  • FounderChurch

    INFLATION DANGER by FounderChurch

    Fear Inflation, fear it very much, but react to it intelligently.

    1. Borrow as much as you can,

    2. Put your money including the money you borrow into inflation hedges, like Real Estate, Commodities of various sorts, including precious metals, and not so precious metals.

    3. Stocks are good inflation hedges which is driving the buying of stocks now.

    4. Diversify as much as you can. One way is to invest in strong national economies like Singapore and Switzerland.

    5. Don’t forget to invest in your health, your children, (by having lots of them,) in education, and in your immortal soul. “What does it matter that a man shall gain the whole world and lose his immortal soul.”

    In other words get right with God, and join, or create, a Church that cares about YOU. Such as church is hard to find, I agree, which is why I have started FounderChurch.

    You need Family you can trust, Friends you can trust, and a Church you can trust. Life is all about trust.

    • Nexusfast123

      A church is the last organisation I would trust.

      • FounderChurch

        Well what is the first 2nd and 3rd organizations that you would trust then?

        • Me, myself, and I.

          • FounderChurch


            *”Life And Life More Abundantly”*
            Google “FounderChurch” for Teachings

      • Louise in MO

        That’s very sad.

  • you have benne telling such pessimistic prospects for months, but nothing has happened yet. sp500 is soaring hitting new highs. In the market when everyone positions himself to the fall, the market acts differently. And when all believe there is just one direction, and that is up, the market takes a sharp turn and begins to plummet. Sooner or later you are right, because trees dont grow to the sky. what once goes up, must once come down.

    • Nexusfast123

      The SP is rising and bubbling as the banks and large institutional investors are speculating with newly ‘minted’ money from the Fed (the Fed is taking toxic financial assets off the banks books each month). This ‘hot’ money is also fueling the shadow banking system and causing bubbles in other economies around the world.

      Stock exchanges lost any association with the real economy decades ago and are a gigantic casinos for the elites to skim money. When it does go and it will it will drop like a stone.

  • Tesla

    For the record when the SHTF if anybody tries to barter with me and offers me silver or gold i’m gonna look at them like you are so dumb bro why would i want this

    • Das

      So you would rather take dollar bills that will be worth toilet paper bro?

  • chilller

    A friend who loves to play golf refuses to listen to any doom and gloom scenarios. Even though I occasionally prod him gently in the “prepper lite” direction, he insists on keeping his head firmly stuck in the sand trap.


    Mark Steyn said this about the passing of Thatcher. She saved her nation but at the end of the day can her nation save itself? It is obvious that with the reelection of BO the country decided to plunge off the cliff. Our economy is kept afloat only by printed money. BTW, how much gold do we have in Ft Knox? Does anyone know? Word has it we have not done an audit in 40 years. Probably because the truth would be too shocking. I suspect that all the Gold in California is not in a bank in Beverly Hills but in Shanghai. When we lose Reserve Currency status, the tsunami will arrive.

  • why are you so pessimistic? why is it so important to broadcast such bad news, feelings to the readers? the world is not a safe and out of risk place for human. be careful when you drie, take care of your investment, dont be fooled by others. if you dont loose your mind, you can reduce the risk. dont take excess risk and the world will be a safer place to live.

  • frank1569

    ‘Who cares? Let the economy collapse. We’re already poor,’ says almost everyone I know.

    Breaking News: Lindsay Lohan did something stupid!

    • Haha! That made me crack up. We are essentially poor, or certainly lower-class economically. But we want for nothing, and we are preparing for SHTF. We couldn’t possibly be happier. Well, maybe if we could have our 25-year-old bodies back…

  • germanycalling

    Yes, thats why I only buy 1oz silver Maple leaves. What will be worth 1/2 oz of gold ?, is food, or services going to get that expensive ? . A workman has been paid a certain amount of silver every day for thousands of years, I read its 1/8 th of an ounce, though not sure if its true. Will it get to the point where food is more worth than PM ?, dunno

  • cherylmeril

    People are only taking “loans” against their 401Ks. I took out all of mine over 3 years in case the thing crashed.

    • Dman

      I can’t take mine out while I’m still employed there. Best I can do is take a loan out on it. 🙁

  • cherylmeril

    The Kingdom of Heaven is near, be willing to let go of your life for Jesus Christ who will protect you. Otherwise for those of you who think only the physical prep can save your lives, you are gravely mistaken. This entire thing that’s happening is spiritually based. Read the Bible, repent and turn to Jesus Christ as your true and only salvation. Stop fighting God by trying to preserve your fallen, depraved human nature.

    • Alasha


  • iceman

    Just came back from the local welfare ChinaMart. No handgun ammo of any kind.

  • Kascha K.

    This is what we’re calling “the good times”?

  • piccadillybabe

    I have never seen so many new SUVs around, great big gas guzzlers. Also housing is not doing too bad with some interest rates as low as 2.9%, maybe even lower in some cases. The way I see it, you are better off keeping the older car and if you have a house that you can afford don’t rock the boat at this point. The sequester effects have really not even started yet and the risky global derivative casino is alive and well with investors. We are ramping down war efforts in Afghanistan so the munitions industry will be in decline. There is really nothing that spells growth going on. It is just going to be a slow and painful recovery all across the board probably for years. If you like gold and silver and have some discretionary income, it seems like it is becoming affordable again and is never a bad investment.

  • bobcat

    Gold and Silver didn’t really crash. The feds have been shorting metals and planting the story there’s a bubble to spook people. What they are doing is not sustainable. Sooner or later, their hand will be played.
    This is time to buy.

  • TY

    The New World Order is a cashless society. Enter the Mark of The Beast.

  • glamandvampallround

    I am not surprised the consumer confidence would be going down. Here in Phoenix I see business after business closing down – especially restaurants, there seems to be one or two big known ones closing every week. I don’t see many jobs being advertised here either online for via help wanted signs. I just don’t feel the level of economic activity I did back in 2006 during the real estate boom here, things have not picked back up to the same level.

    Just glad that I will be working again for the first time in two years as of May 9th in Utah…..Time to be saving every penny I can. Seriously, no more makup or glitter…..just basics for work waiting tables. I am glad, so glad I ran across this site, and the owner of this site might get a kick of how I found out about it – at Workforce Development in Phoenix, waiting for an appointment with a job developer, I heard two men talking of this website. It has really opened my eyes, made me think, and made me re-prioritize. So this (former) sheep is doing some thinking and asking some hard questions…..surely there must be others out there doing the same, not just the folks who post here.

    • Louise in MO

      Good for you! I’m glad you have prospects and hope you like Utah. Never been there myself but others I know say it’s a great place!

      Good luck!

      • glamandvampallround

        Thanks! I’m just excited to actually be working again, even if it is only for five months, and also am glad to have a place to come back to when it is done! Many don’t have this and I am embarrassed that I didn’t get this until recently….anyway, thanks for your good wishes, Louise in MO!

    • Very interesting, Vamp. I was very resistant to the idea of a general economic collapse until about 9 months ago, and have been feverishly preparing since. I never have been one to credit apocalyptic scenarios. I have always thought that things worked themselves out slowly, rather than collapsing. However, seeing all these statistics, not just here but elsewhere, it just all fell into place. If we make it out of this without a large scale economic failure, it will be a miracle. Good luck to you, and if you can get out of Phoenix before the SHTF, by all means do. The big city’s are likely to be the WORST places to be when/if it happens.

    • El Pollo de Oro

      Glamandvampallround: Good luck in Utah. Saving every penny you can is a very good idea. This is NOT a time for frivolously spending. As Gerald Celente has said, “Don’t spend a dime you don’t have to.”

      In one of your previous posts, you toyed with the idea of a move to México. I responded that the bloodbath taking place south of the border is a major nightmare, although parts of México are safer than others. I also cautioned against moving to México unless you’re really proficient in Spanish.

  • Rodney

    You forgot student loans, jobs, GDP per capita, municipalities(NY State has many on the brink) and sub prime auto loans

  • Bree Jones

    What exactly can we expect to happen? Is everyone talking about the kind of thing that happened in 2008? I’m only asking because that I can handle. Is there something more? I have read on this for the past 5 years now & I am not getting any younger! & it seems its always around the corner! I guess I’m one that is getting ready to say who cares & start living again! Doesn’t anyone ever get tired of this? & I am not making little of it, please do not think that I am…I’m just so tired of not living anymore & always fearing. Understand what I mean?


    • K

      Perhaps you need to step back, and take a break. I have been prepping in a small way since 2005. I never stopped living my life, nor should you. And why be afraid? Either something will happen or it will not. If it does, you will be in better shape than most. If it does not, think of the money you’ve saved on groceries. You bought them when they were cheaper. As a Christian,fear is just not a factor in my life. Prepping can be a way of life, but it should never dominate your life. I hope you feel better soon.

    • Richard T.

      I understand what you are saying. It seems so easy to be overtaken by the fear when you see the reality of what is coming. For me, the only way not to fear is to trust in Christ Jesus. So yes, I know there will be problems around the corner and that evil is here already, and yes, I am preparing myself and my family for that, but my focus is not on the trouble, but on God. That is the only way we can face what is coming our way!

    • HecatesMoon

      Awwwwe…. Bree….
      You need to look at things in a different way. If you began prepping based on the idea of an economic collapse alone ( and no, they are talking about a slide down into depths way, way WAY beyond 2008) you need to shift your mentality. While I suspect economic difficulties will likely make peoples’ prepping necessary (and I too went through the “can we just get it over with already!!” thing too), that should only be considered a possibility.
      Prepping should be considered just a general insurance policy, because let’s face it, a LOT of things could happen. While I’m sitting here typing about economic doom, we could have an earth quake here that swallows half my town or a gigantic tornado could rip through my whole state. You know what I mean?….
      Shtuff happens, and I cannot control it. It may be the stuff I suspect will…. or it may be something else…. but then again it may NEVER happen. Nothing. Not a single thing. Still, I build my personal insurance policy.
      And I don’t know your personal circumstances, but for my own the prep mentality has become secondary, like a bonus or a byproduct of the way of life I am living and that I love living and that makes me happier than anything else ever has. Rather than learning to can or milking goats or raising chickens and collecting this or that with this fear mentality or scary voice pounding at my head, I am living JUST the way I want and often think to myself, “I have a beautiful life.” I feel good. I feel strong. I feel accomplished and more free for it.
      So, conclusion…
      If you’re prepping for economic collapse, stop and just prep because…why wouldn’t you? You have car insurance, don’t you? If you own a home you have home owners insurance, right? Same thing. Of course, follow the issues that concern you. It is just another prep to be aware of what is going on around you. But ultimately, turn prepping into a byproduct of activities and skills you want to learn or are curious about and a byproduct of your way of life if you’re able to do that and forget the doom and gloom and fear. 🙂

    • jaded

      Like the other three said, and what I always say to myself: it’s better to have it and not have to use it then not have it and REALLY need it.

  • Jeff

    Getting prepared is our highest priortiy at this point. In more ways than one. More than 75% of people I have talked to in my career believe in economic collapse and are preparing as well. Has to tell you something.

  • Garrison

    Your info on Bitcoins is not quite right. No one can stop the trading of it. There are scores of exchanges that deal bitcoins; only the popular one or two suspended trades during the big selloff. There is no “financial dictatorship”.

    While it is true that the current infrastructure could not handle the massive selloff that occurred, a similarly scaled selloff of any commodity could not be adequately handled by any financial system today. This was driven by a massive influx of know-nothing speculators who started selling their positions before their purchases had even been confirmed! Of course this will cause issues.

    Finally, I’m getting tired of how the word “success” was so taken out of context. The Mt. Gox exchange is not run by native English speakers, and their intended message was that the problems were due to the sudden high interest (“success”) for the Bitcoin currency.

    Of course, I’m sure the way you described Bitcoin in your post is much more useful to you. Readers won’t return to your blog and click on your links if they aren’t scared!

  • Mondobeyondo

    Yes, it’s that time of year again!
    Time to listen to that Beatles’ classic “Taxman”!
    Did you know “If I Needed Someone” was the only song that was a George Harrison original, that the Beatles performed live in concert? It’s true. All of the other songs George sang/performed in concert, were cover versions of other songs. Although “Taxman” was written by George, it was never performed in concert.
    And that’s your Beatles trivia for today.
    Tune in tomorrow, when we’ll discuss how to survive a week on only $5.00. No silly, not $5.00 a day.
    $5.00 a WEEK.

  • germanycalling

    A friend of mine had 2 trucks, both 40 tonners here in Germany. He has now sold up because there is so little to transport. What contracts that are on offer are in his words, a waste of time. German economy is export based, so the fact that transport is failing must speak volumes

  • Yo mama

    You gonna censor me? I bet you will.

    • not for a brilliant comment like that, LOL

      • Yo mama

        He did censor. I knew he wouldn’t let my post through. Kook

  • Timothy Griess

    I am putting my faith in Jesus Christ and Christ alone. The economy will crash and the world as we know it will come to an end, but all the stored food and bullets wont save you. For God so loved the world that He gave His only begotten Son, that whoever believes in Him shall not perish, but have eternal life. John 3:16 Don’t spend all your money on preparing for the end, but focus on life, the life of Jesus Christ to save you from the wrath that is to come. And one thing is sure lady’s and gentleman, the time is near, very near. May God have mercy on all who who hear and believe.

  • Chuck B., Reading, PA

    Gold is said to be going into its 9 year low sometime in 2016 – 2017. IF stocks hit a major peak this year, then they are likely going into a 4 year low. Could very well end up lower than in 2009.

  • arizonadiane

    As long as people listen to CNN and the other lib stations, they will really be fooled. There is way too much evidence that this country is in dire straits. AND this is Obama’s plan.

  • goingDown!

    QUESTION: I’m a bit of a noob but fascinated by the what’s going on, and certainly trying to prepare. But I’m curious though. My employer is dumping money into a retirement plan and I’ve set it up to have some flexibility in what I can buy. Can’t buy stock or ETF, only mutual funds. To hedge a collapse, what do you do? Gold funds or funds with a percentage of bullion? Or is it pointless to try to hedge?

  • Jackn3

    I am also prepping, but I am worried about energy shortages. I was thinking of getting an outside storage tank. I was also thinking of getting a diesel car which would fit in with tank supply. I could also use it ofr my oil burner in a pinch. Any thoiughts.

  • hillbillyhustle

    The good times will roll as long as the Fed prints the money. The stock market likes Austerity. Corporations will grow by contraction. People will lose jobs, The dollar will continue to be debased by getting less of an item for the same price. I believe that all the hoopla is a pump and dump scheme that has been repeated through out history. I feel that the market will crash and the 1% can’t wait. They can buy more and push the weak out. Right now I feel like the world is racing to the bottom to compete in the market place via competitive devaluation aka currency war. When the “safe havens” dry up and there is no more safety we will see a great depression. I personally do not believe in a complete financial crash. I do however believe that paying off debt, having extra food and other supplies is good common sense. I used to believe the economy would crash now I feel we will go though a transition period much like 2008 except worse. Call me delusional but Wall Street and politics will do whatever it takes to save their cash cow and complete collapse is not an option for them.

  • interestedobserver2

    I’ve been expecting this for the last year. Once it was clear that Obama had no intention of doing anything intelligent or meaningful to support the economy, and would, in fact, continue to push policies that seem expressly designed to destroy the economy (QE, artificially low interest rates, massive money printing), it was only a matter of time before this happened again.

  • FactsOnly

    In my opinion I feel real estate is also set to crash and this time hard and for real. The national debt is enormous, the areas above are set to crash per this article, and all sensible papers say the job market is bleak for young and old. I would NEVER be a slave to real estate debt. No way, no how not at the grossly inflated BS prices I see coast to coast especially I view CA and FL set for real estate nightmare with the marketing BS being flung around. I saved my family by not buying into the pre-2007 bulls*ite and I will continue to rent right now 2013 thank you.

  • Vlak

    This train is coming right off the rails, and we have front row seats. Not every lifetime you get to see the most catastrophic financial collapse in recorded human history.

  • Dont treat bitcoins as a stock… it is NOT.. its an open source protocol… (too late to pull the plug, Mt.gox and all the other echanges will not exist anymore anyway and ALL Bitcoiners knows this.. Your either in our out!

  • I would hardly say that Bitcoin crashed.. in fact if you step back and have a good look it is at an all time high… Anyway, just my 2 Satoshis!

  • Fake Commenter

    Its the calm before the storm, nobody is safe all will be submit to their judgement of faith! Sell your homes now to invest in motorboats its the only way out. God Bless you.

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