It’s too bad people think that a total financial collapse is likely. It is almost impossible under our system.
A collapse would have to be societal, violent in nature. That’s very unlikely too.
As for financial collapse, no. We can print to infinity to pay our bills, and infinity is not required. The math indicates that about 40-45% of our collective wealth can be stolen over the next 10 years to get us out of the situation. That’s about 3.2-3.4% a year. That’s doable in the boiling frog sense and shouldn’t cause a collapse, especially in this over-medicated welfare state.
I’m not saying things won’t get ugly, that’s why I moved to the country a couple of years ago. but financial collapse?
No, barring a huge natural catastrophe, and that can happen any day, including the end of the world, in which case, preparations won’t matter, except for those religious in nature of course.
The dollars the Fed continues to print and monetize have value only because the dollar is the world’s reserve currency.
Once nations stop having to convert their currency into dollars to buy oil, the dollar’s value will dive. It’s already happening.
It may not be an overnight catastrophe like in 1929, but I’m sure tough times are coming. It has already happened to the British pound. Those who ignore history are condemned to repeat it.
George Soros will make it happen if a crisis is needed to suspend the election this year if it looks like Obama will be voted out.
So I guess the best thing to do is to go on the way we are going, no budgets, spend spend spend with bread and circuses for all. Maybe ‘Bammy’ truly can get us all unicorns!
I agree. The Soviet Union stretched it out for decades. Under any scenario, I cannot picture any catastrophic financial collapse.
The evil powers-that-be will stretch out our suffering for decades. We will likely morph into a slowly dying socialist h*ll.