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25 Signs That Almost Everyone Is Expecting An Economic Collapse In 2010

At times like these, it is hardly going out on a limb to say that we are headed for hard economic times.  In fact, it seems like almost everyone in the financial world is either declaring that a recession is coming or is busy preparing for one.  The truth is that bad economic signs are everywhere.  Consumer confidence is plummeting, big banks are hoarding cash, top financial experts are issuing recession warnings and it seems like almost everyone is trying to accumulate as much gold as possible.  Now that the G20 nations have all pledged to dramatically cut government spending in an effort to get debt under control, worries about a double-dip recession have reached a fever pitch.  So will we see the full-fledged economic collapse that so many analysts are warning of before the end of 2010?  Of course it is possible, but it seems much more likely that  we will just see the beginning of another recession that could certainly deepen into a depression as we head into 2011 and 2012.  There are so many variables and so many moving parts that it is always difficult to predict exactly how things will play out.  What does seem virtually certain, however, is that we are heading into a time of extreme economic stress.

The following are 25 signs that almost everyone in the financial world is expecting an economic downturn during the second half of 2010....

#1) The Conference Board's Consumer Confidence Index declined sharply to 52.9 in June.  Most economists had expected that the figure for June would be somewhere around 62.  To get an idea of how bad this is, the index was at 100 back during the baseline year of 1985.

#2) Major banks are being instructed to hoard cash in preparation for the next financial crisis.

#3) French bank Societe Generale is forecasting that gold could reach $1,430 an ounce in the third quarter of this year due to fears of a double-dip recession.

#4) Paul Krugman of the New York Times declared in a recent column that we are about to enter "the third depression".

#5) According to one recent poll, about eight out of every 10 Americans expect the Gulf of Mexico oil spill to damage the U.S. economy and drive up the cost of gas and food.

#6) Mark Zandi, chief economist of Moody's Analytics, is not optimistic about the chances of avoiding another recession....

"There's an uncomfortably high probability that we slip back into recession."

#7) The U.S. Department of Agriculture is forecasting that the number of Americans on food stamps will increase to 43 million in 2011.

#8) George Soros claims that a European recession in the coming months is "almost inevitable".

#9) Kevin Giddis, the Managing Director of Fixed Income at Morgan Keegan says that a lot of people are making some really large financial bets that a recession is on the way....

"There is big money making big bets that at a minimum we we'll have a recession if not a depression that could last for years."

#10) The Center on Budget and Policy Priorities recently said that U.S. states in fiscal 2011 could be facing the worst budget situation that they have experienced since the economic downturn began in 2007.

#11) Federal Reserve Chairman Ben Bernanke is publicly saying that the U.S. unemployment rate is quite likely to remain "high for a while".

#12) The National League of Cities is warning that large numbers of cities across the U.S. will be facing horrible economic conditions over the next couple of years....

"City budget shortfalls will become more severe over the next two years as tax collections catch up with economic conditions.  These will inevitably result in new rounds of layoffs, service cuts, and canceled projects and contracts."

#13) According to the Wall Street Journal, debates have already begun inside the Federal Reserve about what to do in the event of a "double-dip" recession.

#14) In May, sales of new homes in the United States dropped to the lowest level ever recorded.  The truth is that the American people know economic hard times are coming and so they aren't running out and buying expensive new homes that they can't afford.

#15) Mike Whitney says that without more "stimulus" from the federal government a recession by the end of 2010 is extremely likely....

"Without another boost of stimulus, the economy will lapse back into recession sometime by the end of 2010."

#16) One recent poll found that 76 percent of Americans believe that the U.S. economy is still in a recession.

#17) Richard Russell, the famous author of the Dow Theory Letters, is not mincing words about what he believes is headed our way....

"Do your friends a favor. Tell them to "batten down the hatches" because there's a HARD RAIN coming. Tell them to get out of debt and sell anything they can sell (and don't need) in order to get liquid. Tell them that Richard Russell says that by the end of this year they won't recognize the country. They'll retort, "How the dickens does Russell know -- who told him?" Tell them the stock market told him."

#18) The Bank of International Settlements said in its annual report that major banks on both sides of the Atlantic Ocean continue to remain "highly leveraged and still appear to be on life support".

#19) Mish Shedlock recently raised eyebrows by openly proclaiming that "an economic depression is here".

#20) Bob Chapman of the International Forecaster is very pessimistic about the state of the world economy as we head into the second half of 2010....

"There is still no question in our minds that Greece was a setup to lead to a deflationary collapse later and the Greek people refused to listen. As a result it is now apparent that Greece is even worse off than the elitists imagined. We do not see European bailouts going any further. The result is the US and UK will follow. Financial Europe is history. You should all keep in mind that this is child’s play. Wait until England and the US go down, perhaps before the end of the year."

#21) An article on Bloomberg's website says that 46 U.S. states are facing a "Greek style" financial crisis.

#22) Charles Cooper at Oriel Securities says that worries about the global economy right now are actually very good for the price of gold....

"Debt on government balance sheets and worries that the world could be heading towards a double-dip recession are driving the gold price higher."

#23) Richard Suttmeier recently wrote an article for Forbes magazine in which he predicted that we are headed for another dramatic decline in housing prices....

Home prices will decline again with risk of another 50% down to get house prices back to levels of 1999 / 2000.

#24) University of Maryland professor Peter Morici is warning that the decision by European governments to slash their budgets makes the prospect of another recession much more likely....

"Europeans cutting their budgets now could thrust the global economy into a double-dip recession."

#25) John P. Hussman, fund manager of Hussman Strategic Total Return and Hussman Strategic Growth, has issued a full-fledged recession warning: "Based on evidence that has always and only been observed during or immediately prior to U.S. recessions, the U.S. economy appears headed into a second leg of an unusually challenging downturn."

So in light of all this, what should we all do?

We should all start preparing for difficult times.

Now is a great time to get out of debt, to reduce expenses, to develop additional streams of income and to start storing up food and supplies for when things really fall apart.

After all, you don't start preparing once the storm has already arrived.  You start preparing the moment that you see the first signs of trouble on the horizon.

There is no excuse for not getting yourself prepared.  The signs that we are headed towards an economic nightmare are all around us.

Do what you have to do for yourself and for your family.

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  • Ed

    THE FOURTH TURNING IS UPON US. WINTER IS HERE, AS EXPLAINED IN GREAT DETAIL IN THE BOOK”THE FOURTH TURNING” WRITTEN ABOUT 15 YEARS AGO.(AUTHORS STRAUSS AND HOWE) HAVE PLENTY OF FOOD AND SUPPLIES FOR YOUR FAMILY. THE GOVT WILL NOT BE ABLE TO HELP YOU SHORTLY. DEVELOP A SELF RELAINT MINDSET AND YOU WILL SURVIVE “WINTER” THIS COMMING DEPRESSION WILL BE WORSE THAN THE 30′S BECAUSE PEOPLE ARE TOO DEPENDENT TODAY. IN THE 30′S THEY WERE MORE SELF RELIANT AND COULD TAKE CARE OF THEMSELVES.

    KATRINA SHOWED HOW FAST CIVIL ORDER AND GOVERMENT CAN BREAK DOWN IN A CRISIS.

    GOOD POST

    THANKS

  • Elocutionist

    All of those people can’t be wrong. If they’re unjustifiably afraid (which I can’t imagine), perception is everything and they influence many others. Even if this is a self-fulfilling prophecy, it will be ugly indeed.

  • xander cross

    You are indeed spot on. The problem is the majority of the sheep will not listen because Miley Cyrus is on the television. As long as the “Bold and the Beautiful” is on tv, people will not listen. I know this to be a fact.

  • sharonsj

    You left out the Baltic Dry Index, which is down 40% this month! That means shipping is so anemic that the shipping companies are desperately lowing their prices to entice exporters and importers to do something, anything. But there is no demand for goods. It also means that certainly commodities will be in short supply and people need to stock up.

  • http://www.whatwouldwarrendo.com Uncle Sam

    Mish Shedlock is a very well respected economist.

    When he says we are in a depression, listen to him.

    Get gold, grow food, and May Your Dow Never Jones!

  • Grumpy

    Many people have warned that this has been coming for quite a while now. One should definitely take heed and stockpile necessary items – food, liquids, a small cash (USD) reserve, and silver coinage (think of gold as a savings account, and silver as a checking account when dollars are no longer accepted), and weapons for self-defense.

    If you’ve been delaying doing these things because you’re on the fence about who or what to believe (difficult to trust anyone these days, isn’t it?), start preparing anyway. Best case: things aren’t nearly as bad as realists make them out to be and you’ll have extra dry goods on hand that you won’t need to purchase for several months. Worst case: you’ll need everything you bought in preparation but don’t have enough.

    Most important is your state of mind. Keep your wits about you, keep your ear to the ground, never make critical long-term decisions based on momentary fear, and – when you have a plan in place – don’t hesitate, don’t procrastinate; DO IT NOW.

  • http://electrodes.wordpress.com Loup

    “Now is a great time a) to get out of debt, b) to reduce expenses, c) to develop additional streams of income and d) to start storing up food and supplies for when things *really* fall apart.”

    It’s been time for quite a while actually, but this piece of advice is always precious and is timely.

    As for me:
    a)is accomplished (2001). b) is applied (started in 1998) c) almost impossible to implement for me d) almost over on this one.

    Storing up food and supplies is absolutely necessary when things *really fall apart*, as you write, exactly that. It’s a momentary kind of protection that can (should) last for months and that allows you to see how events and things unfold in very practical terms.

    What’s important is devising means (even very modest ones) to grow or obtain own food and good water to face the moment when provisions are over.

    And above all, there is: meditation, concentration, prayer.

    For instance: deep yogic relaxation and/or yogic routines act as (if) they were feeding you. You’re stronger and need less food. I’ve known that since the seventies.

    And thanks for the very good and very well linked and documented article.

    Qui vivra verra :)

  • lostinmissouri

    One thing is for sure… the price of gold isn’t really going up…it’s that the value of the dollar is going down.
    Back in 1932, a twenty dollar paper bill could be exchanged for a $20 gold coin. They were the same.
    That 20 dollar paper bill will buy you what $20 buys today….but that $20 gold coin today is worth approx 63 of those 20 dollar paper bills.
    Ponder that as the economy is collapsing around you.

  • David

    Fools, the forces of darkness have already won.

    Coming from a regular guy…..most can do nothing to prepare. People live paycheck by paycheck in this country.

    I was lucky to have a Dad tell me what it was like growing up during the Great Depression.

    His 2 favorite sayings…
    1. If you can’t afford to pay cash, then you damn well don’t need it.
    2. When trying to figure out the truth(amid the massive disinformation) ALWAYS follow the money

    Prepare??? More like hold on to your butt cause the rides gonna get bumpy.

  • http://erectuswalksamongstus.com Max Hardwood

    AS I rode my Harley through the next nearest town (Elizabeth, Colorado) this a.m. it looked like a ghost town. It is a small town, but there was nothing, nada, zilch, happening. ‘Coupla cars in front of me, dead everywhere left and right. Looked like someone dropped the ‘Nuetron’ Bomb. I’ve been shopping at Goodwill for years now (Goodwill Hunting, I call it!) and lately I’ve noticed it’s becoming more ‘vogue’ and ‘mainstream’. It’s gonna get a whole lot worse, too, just wait & see!

  • http://survivaljoe.net/blog/ Survival Joe

    Excellent analysis. I love how you pull multiple sources together to make your case.

    Indeed, the time to prepare is now. By fall 2010, it may already be too late.

    -SJ

  • Candide Ulysses Hackett

    A national 25% tax at the point of production on salt, sugar, wheat, & vegetable oil coupled with a state/local 25% tax on food stuffs containing more than one% of these four items will cure most national and local financial crises. Also, decreasing consumption of salt, sugar, wheat, & vegetable oil will reduce wastefulness of medical resources by curing people of their many “diseases” that make them fat, brain-shrunk, sickly parasites on the economy.

  • http://Theeconomiccollapse Dang

    The picture on the sign showing movie playing. Should be N.W.O. in progress. I think the gov will have the people of america so scared from disasters to economic collapse. That they will say show me the money for the new world currency. Starving for food an water will be the worst.

  • Max

    The collapse is on. I think the fear of it is the most dangerous thing from all of this. America is a very abundant nation, so I do not think that shortages of the kind people are talking about here are likely.

    However, what is likely is an outright collapse in the finances of localities, cities, states, and eventually, the federal government. The real battle is going to be between the forces of NWO (and their one world banking and media buddies) and the folks on the other side, like most of humanity.

    Following the Constitution is the only way out in America. We need to replace the Congress with people who are not bought and paid for by banks and large companies. Then we need to eliminate the Federal Reserve, and for Congress to take back the power to coin money and regulate the value thereof.

    Congress should use this power in the public interest, by printing enough money to pay down the national debt as it comes due, and to print a large sum of money to rebuild the infrastructure of this nation and create jobs. Job creation and credit formation without the help of the banks and their minions is the only way out of this mess.

  • Lennie Pike

    Some people will read the solution Max gave and not pay it too much attention thinking it’s just another opinion, one of so many they have heard, and remain unsure of what needs to be done. Read it again because it is the only possible solution, but even if implemented, the forces of NWO are not going to give up, and sooner or later will be in total control of the ones that choose to accept it (continue staying alive but not living). We need to fight them while we can so that we can at least say that we did.

  • Snoop-Diggity-DANG-Dawg

    “…the price of gold isn’t really going up…it’s that the value of the dollar is going down…”

    Exactly, Missouri. But the lie they’ll be selling is that ‘gold is in a bubble’, which they’ll try (and fail) miserably to control. Truth is, the ‘$’ is in a bubble, due to(justiable) European fears that the Euro is overvalued. Trouble is, we’re both on ‘sinking currency ships’, but because they’re sinking a little bit faster than us, we think everything is fine.

    WARNING: Everything you ever took for granted is now in question. Get ready. Arm yourself.

  • Jim Schmidt

    Church Collections are down in St. Louis,
    Jan 31, 2010, Weekly Contributions, $8,383
    May 30,2010 Weekly Contributions $8,597
    June 13, 2010, $7,550.00
    June 20, 2010, $7,560.00

    Property value’s way down, a property worth $270,000 Nov 2007, now worth $170,000 July 1, 2010, this is not good, incomes at a 30 year low, Mid 1970′s only one person had to work and had bigger families, now smaller families, and both the husband and wife work to make ends meet, the husband normally work a full time job and a part time job just to make ends meet
    Don’t have to drive too far to find below poverty

  • http://www.commercial-real-estate-companies.com Jan

    I agree that things are looking crook. AS Jim Schmidt pointed out in the above post, in the 70′s only 1 family member had to work to support a family and live comfortably enough. So where did everything start to go so wrong?

    Was it the women’s movement? Who were the beneficies from that? Certainly not the women or the kids. Kids got left to bring themselves up and women are still not equally paid to men.

    But the banks profits have quadrupled….

  • http://www.healthyplanetdiet.com/ Paul Kemp

    There are one or two more things we need to do to prepare. Th main one is to get in shape to do a lot more walking, (especially if you live far out in the boonies). Get in the best shape you can ASAP because it will be doubly bad to go through a crisis like this with your health failing you, too.

    I expect the U.S. to find an excuse to go to war on Iran within the next year, which will probably make gas scarce and drive prices through the roof. Another reason to buy some good walking shoes or a bicycle.

    Get in shape, get healthy, and stockpile some essential mineral supplements to be at your best. Oh yes…and learn your edible wild plants! Don’t be caught depending on Obamacare.

  • http://1389blog.com 1389AD

    None of this is any surprise. Only two things could prevent this collapse:

    1) Some legal means of removing a president who is incapable of serving on account of mental incompetence

    2) A sufficient number of States resolve to secede from the union.

  • Brittany Shelley

    How long might this depression last?

  • justamom

    Where are America’s statesmen today?

    Thomas Jefferson said in 1802:
    ‘I believe that
    banking institutions are more dangerous to
    our liberties than standing armies.
    If the American people ever allow
    private banks to control the issue of their
    currency, first by inflation, then by
    deflation, the banks and corporations that will
    grow up around the banks will deprive the people
    of all property – until their children
    wake-up homeless on the continent their fathers
    conquered.’

  • Rick St. George

    There’s a Revolution calling you! Is it too late to stand up and voice your opinion to the facist dictators running this once great republic of USA, now United Socialist States of America (USSA)? What’s left to do is up to you. Do Not join the military. If your are in the military – Get Out! If nobody went to war – there would be no war. It is not just a damn job, it is murder for hire. The elite are playing with you, and countries are mere real estate on their chess board. They are behind both sides.

    Every Red-Blooded American needs to get and read the “RED AMENDMENT”. Go to these two sites -
    http://notmygovernment.us
    And
    http://www.redamendment.net

    Only through education of what is wrong, can we fix it. Only then can we begin on the road to true peace.

    It is the Rich Men stupid!
    End the war on us – end tyranny!

    rsg/srr/arr

  • Rick St. George

    To Our Attny – RE: Lawsuit against WaMu

    I would like to lay before the court, the concept of “odious debt”. In which citizens should not be forced to repay money borrowed
    by tyrannical or kleptocratic rulers. Interest payments on debt are often regarded as an onerous burden placed on the poor; interest is seen as an unjustified reward for capital, a concept that goes back to Aristotle and is implicit in the Christian idea of usury. Islam forbids it altogether. The book of Deuteronomy suggested a debt amnesty every seven years, which survived into later Jewish custom.

    We are the victims. The contract was breached by the lenders. It was perpetrated upon fraud to begin with. So the real question
    is what is the punishment for breach of contract – and what reward should be due the victims?

    The money is gone, just as from whence it came. Mere digits on their computers. Created out of thin air. The majic of the cabal of international banksters have come home to roost. Even our sovereign (ie national) debt is fictitious to the private entity known as the Federal Reserve Corp.

    Alas, the debt-financed model has reached its limit. The mortgage bubble has popped. The private debt bubble is popping. Soon the government debt bubble will burst and economy will collapse. Most, if not all, of the options for dealing with the debt overhang are unpalatable and unsustainable.

    April 2nd, 2009 was the day of legalized accounting fraud. The day congress forced FASB to suspend rule 157 in favor of deceitful accounting.

    Behold the age of infinite moral hazard! We now face the battle between borrowers and creditors. It is a battle against the evil that the cabal of international banksters have waged to enslave mankind. How long can the politicians pretend that debt to these slave masters doesnot matter? How long will you allow it?

    Soon the battle will erupt in full scale – Evil will be destroyed. Indeed, the diaspora has begun.

    rsg/srr/arr

  • Christo Petkov

    RE: The double-dip recession
    This is not a double-dip recession – it is the ‘yellow submarine’. Take a look at this, for example:
    http://www.usdebtclock.org

    I have some questions in connection with this:
    1. Where is the ‘engine’ of this clock (is it the interest rates of the banks, or the bonuses of the bankers, or what).
    2. It is obvious that the world economy cannot meet the greed of the capital, and what is more it is diverging and loosing its chances of recovery with every single minute (take a look at the clock).
    These are the countries making 70-80% of the world wealth – who is going to get us out the crises?
    3. How far this will go and how it will end?
    4. Who is going to pay the bill and how?
    Regards

  • Joe in JT

    Our economy is in real trouble and here’s why.

    Sometimes the simplist and most overlooked image turns out to be the most important. This simple image was covered by the newspapers and some TV media. This little picture said a thousand words and most didn’t even notice. But you will notice when this thing takes place. Do you know what image I’m talking about?

    Russia’s Putin holding a freshly minted coin and saying “it’s time for a world currency, it’s time for a change. The dollar just doesn’t have any real value anymore, it’s just fiat money”.

    Trust me!! When the greenback is no longer the back-up currency for the world, your way of life will be changed forever, for the worst.

  • Preston

    If we all panic–it accelerates the process. Remember, the fear and panic caused the banks to collapse which set off the Great Depression–prepare for hard times but don’t freak out. That just causes others and then everyone is which creates a spiraling downwards.

  • http://jtberger@accesscomm.ca joe berger

    Recession quite likely
    collapse..utterly impossible
    I am always amazed at how people with no understanding of how an economy works are so keen on predicting how it will function.
    Econmomic collapse is about the same risk as being struck by lightening.

  • Pokey McGee

    Calm down, people, just CALM DOWN. Some of you have seen waaaaaay too many movies like Mad Max or Book of Eli. America isn’t going to become a barren wasteland anytime soon. You can scale back a little bit on your survival seeds and stop amassing supplies for your “bug out” bags. Relax and go to the beach or see a movie. Chill out a little bit. Let your kids play outside instead of teaching them to make moccasins out of deer hide. Take a deeeeep breath. In 1-2-3, out 1-2-3. Ahhhh. Doesn’t that feel better? So many people take these doomsday scenarios as gospel and do NO other research. There are two sides of every story. Your life is going to pass you by and all you’re going to show for it is a collection of unplanted seeds and expired food. Chill out.

  • Russell

    Have a look at the MONTHLY chart for the S&P500. A double top on the hourly, daily, or weekly chart – usually spanning a day, a week or so – signifies a likely change in the past trend. A double top of this magnitude, in the monthly chart that we have here, spanning a DECADE, signifies a likely change in the trend to date- and that is the increasing wealth of society (as any sharemarket index is just a small sample of the net wealth of that society). Humans have accumulated wealth throughout human history (even the ’29 crash was a minor down blip on the monthly chart, not visible unless you look for it). We are witnessing the turning point of wealth accumulation spanning thousands of years of history. From here on we only get poorer- what fundamental change could cause this? Environmental collapse? Overpopulation? We live in momentous times.

  • Norman

    Hmmm…Pokey, nice of you all this optimism and Yogee “energy boost”, but it seems like you are still living the good life…S**t is unfortunately in its way, actually, few millions of people are already experiencing it TODAY, in great America. Those are called the long-term unemployed people. Thanks anyway, but please, prepare yourself. You don’t have anything to lose, after all!

  • olde reb

    The economic collapse is inevitable. It was put into place in 1913 by the Federal Reserve Act.

    The national economy is a debt based, usury economy. The Fed and Congress run a finite amount of “dollars” off of a printing press (the Fed gets securities, Congress gets a line of credit on the Fed’s ledgers) and tells the people they must return that amount of “dollars” along with an additional sum called interest. The interest does not exist. It cannot be paid. (Do not confuse the sovereign debt interest with an interest charged on a commercial loan. A commercial loan always has interest available). The interest compounds and eventually consumes an overwhelming portion of the national budget.

    This usury economic system has been foisted upon nations for millennium. Benjamin Ginsberg laments that “financiers” who helped kings exploit their subjects in this manner always destroyed the society in FATAL EMBRACE (although Ben does not confess to the methodology).

  • Barry

    Stop the fear mongering!! Economic collapse is highly HIGHLY unlikely,People!! Everyone has an opinion,especially in economics. People Love to preach doom and gloom and spook the easily led. Obama isn’t evil,he’s just a politician-goofy dubya’s wars and subsequent poor treatment of those who actually went and fought those wars(myself included)speak more to me of true,real evil than anything else Ive ever seen in my life.

  • http://www.buyerbeaware.blogspot.com David Jeremiah

    I only can say this and you check it out yourself: Every Every Financial Cycle is getting worse than the one Previous to it. – 1968, ’78, ’88, ’98, 2008. How does 2018 Look? You figure it out and prepare Yourself and your Family.

  • mickey

    How about going about this a different way…Look at it from the other side, its darker perhaps but quite liberating..
    HYPERINFLATION IS GOOD…IN FACT IT WILL BE OUR SALVATION..Just imagine, immidiately, all debts are effectively canceled..if people can pay off a mortgage or student loan for pennies on the dollar..they are free!! no longer a debt slave..if the US can pay off its creditors with mountains of worthless paper, or the bonds, T bills ect become colorful wallpaper..so what? we win, since we got lots of stuff from the rest of the world and didn’t pay for it..Sure we will all be broke…thats a gigantic improvement over where we are now. Today a newborn is given the birthright of debts to pay of around $600K since he or she inherits the sins of their fathers..social scurity liability, borrowing for endless and useless wars, wealth transfers to the poor, gifts to foreign governments and peoples to try to buy their friendships or cooperation (most of you learned in 3rd grade you cannot buy friends)…all of the trillions down the drain anyway.. the poorest people in the world are not in Somalia..they are in the USA..at least a goat herder in the third world owes the world NOTHING..they are poor and broke..and free..In contrast, we are buried in unpayable debts..hyperinflation is your friend, it breaks the power of the banks, and it also breaks the power of the government over you..Why should I have money taken from my family by force or threat to pay for someone elses retirement or hungry kids? I feed mine, you feed yours..its the natural way.. How dare our leaders give Pakistan $200 billion of my money..The duty of the US government is the USA..The rest of the world can solve their own problems and pay for the things they need.. If we want to give charity, it needs to begin at home..why not give that $200 billion to the unemployed here? why is more than half of my phone bill taxes, fees and charges? Why do I need to buy a licence to do a job I am good at? Why am I required to pay some insurance company money..that should be my choice.. Now if we have hyperinflation, how much stupid legislation, regulation and various forms of control stop working when the police and army and IRS auditors stop getting regular paychecks? I have spent a bit of time living and working in Russia, and in a lot of ways the people there are more free than here..wierd but true..In russia the people and government have a good relationship.. since their hyperinflation, the people ignore the government and do their own thing..the government does the same by leaving people alone..it costs everybody less, and when I live there, if I don’t feel like cutting the grass, or if I have too many cars parked outside, nobody is there to write me a ticket..If I want to remodel my house or paint it, no inspectors or local committee is going to tell me a damn thing..their motto there now is live and let live.. better than here where everybody is sticking a hand in your pocket or telling you what you can or cannot do..
    Anyway, you do not have to loose much during a hyperinflation especially if you are smart enough to save your money in physical objects..art, gold, diamonds, beans and bullets, whatever floats your boat..you only loose if you have greenbacks..sure imports will become shockingly expensive..that will inspire Americans to actually manufacture the things we need since we cannot import them cheaply any more..and that puts people to work again!! Foreign companies will also move here since they can pay us with super cheap dollars.. again more jobs and quality of life goes up in that case..a domesticlly cheap dollar is not bad at all, everybody gets paid with them, so you dont feel the pinch when you buy locally made stuff. For example in Russia, US cigerettes cost about 2 or 3 dollars a pack..good russian cigerettes cost 30cents..they taste the same..a loaf of bread the is about 25 cents, a russian made car is cheap and sturdy..foreign made stuff is the same price as it is in New York..people adapt and buy american will mean something again..sure oil will get expensive..I guess we can drive little cars and conserve a bit..we can actually supply all of our oil needs just fine if we go back to living a lifestyle like we had in the late 50′s and early 60′s..we did not waste energy and we lived lifestyles of the reality based instead of pretending we were rich and famous..

  • Eric

    Gerald Celente has been warning of the same thing. Gee…. how many credible people know that this stuff is already about to happen?

    Obama’s numbers keep slipping. The only thing left to save his reputation is to allow an attack to look like a hero and then everybody will support the next war regardless of their financial situation.

    And Obama won’t care. Anything to prevent the American people from rioting when it all comes falling down like a house of cards.

    The ruling class own the man.

  • bruce

    Retired military have been relocating to Costa Rica for years. And now, the military is moving in. Watch for the new war somewhere in central or south America. Most likely Venezuela.

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