Does anyone else see an economic crash coming?

[Joe SA]

The money system was designed to collapse on purpose. They have created money from nothing the day they started the federal reserve. It's a system that kept people in debt while economic cycles played out with highs and lows. Real value is in the things you own debt free, property (which you don't actually own if you dig deep enough). Each time a person or entity defaulted on a loan, the collateral was transferred to the banking industry, then to be resold again and again and again. When you compare this with Agenda 21/2030, you will see that they will not be needing this system anymore, you will be dependent on the "state" for all your needs. This is where COVID-19 came into play. Each country which instituted "Lockdown" gave relief packages, (Here relief was only given to a certain sector of society and the undesirables got nothing, no food for individuals or money for their businesses)
Their first goal is to get to this.

https://www.google.co.za/amp/s/amp....-to-live-in-the-worlds-first-cashless-society
This goal is let's say aboat 90% complete. When total digital trade is enforced, you are done with, you will have to comply or you will be cut off. Exchange trade, goods for goods or services will be banned cause it is not taxable.

https://www.google.co.za/amp/s/www....mp_js_v=0.1&usqp=mq331AQIKAGwASDYAQE%3D#ampf=
https://www.google.co.za/amp/s/www.cbsnews.com/amp/news/cash-paper-money-coronavirus-covid-19/
COVID-19 will be used to implement UN 2030 guidelines for as long as there is life in that donkey. You will probably see 3rd, 4th 5th waves probably, you will see compulsory vaccination with a digital passport implimented, (South African government has already signed the contract for it)

 

[Doreena]

The Stock market and housing are still going up like everything is great out there. Why do I feel like I’m the only one that sees the cliff the economy is about to go over?

I feel like we are in such a strange time that anything is possible. The reason I got into prepping was that I felt we are too reliant on things that are not in our control. If the supply chain is interrupted, for example. And there are so many things that could cause that. Now that we are in the midst of a pandemic that until now seemed more like a movie or a book plot...I think that an economic collapse is much closer than before. This is what I was attempting to plan for, but my life got derailed, because the one thing I didn’t foresee is being alone, at least for the part where we get land and move out. But I have my stuff, and if no one offs me for it, I believe I would have valuable skills, just not the defense skills... but I digress. Yes, I think it wouldn’t take much to push us over a cliff into economic disaster. And with every COVID death, our supply chain gets weaker. It’s not the people in the ivory towers that are the most vulnerable, it is the ones growing our food and driving our trucks....

 

[Brent S]

I feel like we are in such a strange time that anything is possible. The reason I got into prepping was that I felt we are too reliant on things that are not in our control. If the supply chain is interrupted, for example. And there are so many things that could cause that. Now that we are in the midst of a pandemic that until now seemed more like a movie or a book plot...I think that an economic collapse is much closer than before. This is what I was attempting to plan for, but my life got derailed, because the one thing I didn’t foresee is being alone, at least for the part where we get land and move out. But I have my stuff, and if no one offs me for it, I believe I would have valuable skills, just not the defense skills... but I digress. Yes, I think it wouldn’t take much to push us over a cliff into economic disaster. And with every COVID death, our supply chain gets weaker. It’s not the people in the ivory towers that are the most vulnerable, it is the ones growing our food and driving our trucks....

Glad to see your post Doreena. I’ve wondered how well you were dealing with life and all it’s changes.

 

[Doreena]

Glad to see your post Doreena. I’ve wondered how well you were dealing with life and all it’s changes.

Keeping busy with home repairs, freeze drying, working. Not much prepping, actually living off my freezer, garden and pantry. Moving to Maine is looking better than staying in Alabama as idiots here are having COVID parties...my sister lives semi off the grid up there...

 

[Brent S]

Keeping busy with home repairs, freeze drying, working. Not much prepping, actually living off my freezer, garden and pantry. Moving to Maine is looking better than staying in Alabama as idiots here are having COVID parties...my sister lives semi off the grid up there...

Being near family or friends is always a good thing. I’m not sure how I would adjust to winters though. I know it’s beautiful in the summer months. what kind of work do you do, and can you transfer easily?

 

[Doreena]

I am a database administrator about a year from retiring. I could retire early and do ok, probably lose 3 to 5 hundred a month. But as long as I have internet, there are jobs out there that I could do remotely.

 

[Brent S]

I am a database administrator about a year from retiring. I could retire early and do ok, probably lose 3 to 5 hundred a month. But as long as I have internet, there are jobs out there that I could do remotely.

Glad to hear your situated well with work. Being able to work remotely is a huge plus right now as well. I’ve always thought that making big moves during traumatic changes in life wasn’t a good idea. The best advice I can give you is take your time and follow your heart and gut instincts. Life is short for us all so do what you have always wanted to.

 

[JackDW]

First, to be clear, This is my opinion only based upon no facts whatsoever. My initial thoughts was the that US will make this thru OK. Yes, it was going to take some hits in the economy but with Trump pulling the strings, we would get thru it. But, then comes those democrat governors with their marching orders from the DNC to crash and burn their state (I live in one of them) to try to make Trump look bad. More proof that the Democrats care more for politics than the people. While Trump is trying to get the country restarted and keep it running, the Democrats keep trying to shut it back down. It will reach a point that it CANNOT be restarted and will crash. That appears to be the Democrats goal. I do wish Trump would learn how to temper his posting and just do the job. But that is NOT what is causing the US economy to crash. That is solely the fault of the democrat governors following the DNC framework to crash the US.

 

[gollwoods]

our economy is held afloat by debt. more than can ever be repaid.
the federal reserve bank which is privately owned has been buying much of the debt. now it is buying bonds from all kinds of places to keep defaults from occuring. just this week Wells Fargo had a very poor earnings statement. the excellent you tube video by Wall Street for main street explains most of the issues.
a collapse is likely at some point but no country with a central bank and the world's reserve currency has ever had a collapse so no one knows how the event would.play out. I personally would expect all financial products to cease to function debit cards credit cards savings accounts all would be unavailable. we will see severe hardship as food stops arriving in stores. fuel is likely to continue being produced and some will be available at least for a time. this may be a time of refugee hoards fleeing the cities. you may want to think of a situation where you will have to travel and light with gear to spend nights afield. or possibly in a structure. essential items are sleeping mats closed cell foam mats are tough light and cheap. thermarest inflatable and klymit inflatable are great and help if you are older. I slept without one before it's nothing you would.want to try. sleeping bags run down to zero and lower but are very expensive if you want the best. what I do is take a 40 degree bag and added a down quilt or throw for added warmth. if you are out and it gets down below 15 you would.need a zero degree bag. it's tough so try to have a heat source. there are strategies for staying warm and it's good to Google them. bags that wiegh more than 3 lbs should.not be considered for foot travel.
a pack should be at least 65 litre granite gear is nice. for a budget look at the fear at Aldi's the food market surprising values . I have used the Alps mountaineering tents as well as others with good results go light but try not to use the syl nylon or other single wall fabrics if you don't want to get wet.
Lear about compression sacks for clothing. it's the only way to carry your layers and fit everything in a pack. you water filter and cook set will have to fit. there's so many options you'll really have to read up. a long spoon is pretty much a necessity especially if you are using the freezer bag meal system. again look in to the options

 

[Petoski]

Money was created by man. When the banks went bust the bankers just went to the government and basically said we need money, if you don't give it everything will collapse. The government had 2 options. 1 let the economy collapse or 2, print more money. Option 2 will always be chosen.

In a capitalist system, debt is not a problem so long as there is growth and that is the real reason governments want population growth. The economy will not collapse until population sizes decrease and there are fewer people to joint the global pyramid scheme.

 

[Brent S]

I agree that debt is the number one thing that will cause a depression. I don’t think it will end the world as we know it but do believe it will be much harder for individuals to provide for their families. If we were financially sound before this shutdown I don’t think it would be as big of a deal overall but with the existing debt and the runaway deficit happening now there is no way it won’t affect us. All any of us can do is get your own affairs in order to ride out whatever happens. Use the brief shortages we saw on things like meats and toilet paper to learn from.

 

[jayjay1]

I agree that debt is the number one thing that will cause a depression.

I thought marriage was?

 

[SheilaT.]

I agree that debt is the number one thing that will cause a depression.

I thought marriage was?

You're not wrong there! My depression left about the same time I kicked my old man out the door.

 

[DrHenley]

I agree that debt is the number one thing that will cause a depression.

I thought marriage was?

Debt + marriage

 

[Maverick]

Fiat currency is designed to run on stable debt never in the black. We been using the fiat for 49 years, Federal Reserve is owned by banks who has been wanting the US to move to the fiat when WWII ended. The Banks that own the Federal Reserve that was wanting the fiat are the same banks that make their money off debt in way of interest rates and who sets the interest rates... 7 governors of the Federal Reserve Board and five Federal Reserve Bank presidents. Self serving isn't it... welcome to the fiat currency.

 

[DrHenley]

When you really get right down to it, fiat currency is borne out of an addiction by governments to spending more money than they have. No different than an individual getting more and more credit cards in order to maintain their lifestyle. Once addicted, the only way to get out of it is by complete collapse of the monetary system. Which has been the final outcome of every fiat currency in history.

 

[user 4617]

nah, we can print money FOREVER!!!!!!!! Nothing to worry about.

 

[Oddcaliber]

One of the things that pulled the USA out of the last depression was WW2. Really not looking forward to the same results. There has to be a better way.

 

[DrHenley]

What brought us out of the great depression was that Roosevelt decided that the "evil industrialists" were needed for the war effort.

 

[SoulSeeker]

Absolutely going to crash. There will be a point where the Gov can no longer help the people. Welfare gone, social security gone, FEMA of no use. The high and mighty will have theirs but take no pity on the rest of us.

 

[DrJenner]

The real damage is that the GDP shrank by 9.5% from April to June compared to Q1 2020. When comparing from year to year, looking at Q2 2020 versus Q2 2019, the percent decrease is also about 9.5%. The biggest quarterly drop on record was 10% in 1958. The biggest drop over a full year was in 1932, during the height of the Great Depression, when the GDP shrank by 12.9% — the government doesn’t have quarterly reports on GDP that far back.

It means that if the annualized decrease of 32.9% came true — as in, the most recent rate of shrink maintained itself over a year — it would far outpace the worst of the Great Depression. It doesn’t mean it will happen, but it’s a blaring siren that something has to change fast. On July 29, over 68,000 new COVID-19 cases were reported, according to the New York Times. The virus is far from being contained, which means that many businesses will continue to be closed, or will feel forced to reopen, or in some states, like California, may even have to close again after reopening.

I don't understand how people can't see this and keep going about their merry way. Unemployment is high, and the government just keeps printing money.

 

[Dracos]

One thing I have learned about people is that they tend to believe that things will pretty much be the way they always have been. A disaster is an Earthquake or a tornado or a hurricane. Here today gone tomorrow. The current plague we are enduring is not going to go away soon. The economic collapse we are facing could last for years. Maybe many.

 

[GeorgiaPeachie]

The real damage is that the GDP shrank by 9.5% from April to June compared to Q1 2020. When comparing from year to year, looking at Q2 2020 versus Q2 2019, the percent decrease is also about 9.5%. The biggest quarterly drop on record was 10% in 1958. The biggest drop over a full year was in 1932, during the height of the Great Depression, when the GDP shrank by 12.9% — the government doesn’t have quarterly reports on GDP that far back.

It means that if the annualized decrease of 32.9% came true — as in, the most recent rate of shrink maintained itself over a year — it would far outpace the worst of the Great Depression. It doesn’t mean it will happen, but it’s a blaring siren that something has to change fast. On July 29, over 68,000 new COVID-19 cases were reported, according to the New York Times. The virus is far from being contained, which means that many businesses will continue to be closed, or will feel forced to reopen, or in some states, like California, may even have to close again after reopening.

I don't understand how people can't see this and keep going about their merry way. Unemployment is high, and the government just keeps printing money.

Americans as a whole have “learned” to trust the government far too much. You will see signs of it in a few posts even on this board. Most members who I consider the heart and soul of this board wisely do not trust or put their well-being in the hands of government. Many Americans, much like a frog in hot water, wait too long to respond to the the issues at hand. And others are not intelligent enough to identify the problems we are experiencing.

The China Flu has had so many false statements by so-called “experts“ made about it that many people are confused. They aren’t linking the “experts” lies with the reason behind these lies...which is political.

You do realize the numbers are far from correct and that includes the death rates. As far as being contained? There isn’t any way to contain a fast spreading virus without locking people in their homes and never going out again. There are no guarantees that even a vaccine will stop it. America needs to get back to work!

STAYING. SHUT DOWN is what is going to crash and burn our beloved country. Of course that is what the left is wanting.

 

[forester]

Absolutely going to crash. There will be a point where the Gov can no longer help the people. Welfare gone, social security gone, FEMA of no use. The high and mighty will have theirs but take no pity on the rest of us.

You got that right. It'll be Barter Town for us then.

 

[user 7704]

so hands up,who still think prepping is crazy??

the only problem here is,we're in a state of " calm and things are better now" so no need to have supplies,sigh..

I noticed the toilet paper aisle is getting low again. I was shopping for mom and cleaning supplies and paper goods were all low.

The dollar is down 10% and the Fed is buying all of our debt. As mom says "robbing Peter to pay Paul".

 

[Psalm7]

We have hit a few bumps wiyh this virus and Leftist violence . But there is going to be a economic boom very soon . Hard times or not the market is going to feed itself .
That being said if the election goes to the left and alot of anti business people get elected then the investors will pull in and then we get the crash alot of you are expecting .

 

[Doreena]

Glad to hear your situated well with work. Being able to work remotely is a huge plus right now as well. I’ve always thought that making big moves during traumatic changes in life wasn’t a good idea. The best advice I can give you is take your time and follow your heart and gut instincts. Life is short for us all so do what you have always wanted to.

Everything seems so unreal right now, disconnected. However, if I retire now I lose less than 200 a month, and I can get surviving spouse benefits from social security until I get to be 66 1/4... I think. It has been so hot here that cooler climates sound more and more tempting. Hope you are well.

 

[Doreena]

I noticed the toilet paper aisle is getting low again. I was shopping for mom and cleaning supplies and paper goods were all low.

The dollar is down 10% and the Fed is buying all of our debt. As mom says "robbing Peter to pay Paul".

I was told that canning supplies are getting hard to find as well. I just want to find my spot and hunker down. Soon.

 

[user 7704]

I am getting low on jars. Never thought that would happen. I dumped some old squash and zucchini that I will never use to give me some in case the guy brings me the 4 boxes of tomatoes next week. I'll need 40+ jars for that many.

 

[user 7704]

We have hit a few bumps wiyh this virus and Leftist violence . But there is going to be a economic boom very soon . Hard times or not the market is going to feed itself .
That being said if the election goes to the left and alot of anti business people get elected then the investors will pull in and then we get the crash alot of you are expecting .

We have lost over 80% of our income. If sports don't come back better than they are, it will all disappear.