While the mainstream media propagandists continue to push the lie of a robust recovering economy, the fact is, we are in some serious fiscal trouble. Economies around the world are crashing, countries are drowning in record amounts of debt, and governments continue to pile on new debt like there’s no tomorrow.
At some point this debt train is going to come to a screeching halt; when that happens we are going to see panic and chaos like nothing we’ve ever seen before.
- If and when things go bad, and money starts to become scarce, do you have a plan? What if we suffer a complete meltdown and collapse of the economy?
- Are you prepared to survive a total economic collapse?
- If you haven’t already, it’s time to put together a plan of action. The fact is, the writing has been on the wall for some time now, and we probably don’t have much time left.
The world, especially the United States, is drowning in debt.
The United States, once the world’s shining example of fiscal security and responsibility, has become shackled by a record amount of debt. We are literally drowning in debt.
Over the next ten years, experts think that debt could balloon to over $40 trillion. While that might seem like an insurmountable amount of debt to recover from, the fact is, we have already surpassed that number.
When factoring in unfunded liabilities like Social Security, Medicare, government pension plans and Obamacare, the true debt number is actually much higher. Estimates put the real number somewhere between $222 trillion to $250 trillion.
But it’s not just the government, people are borrowing at record levels as well.
- Household debt increased at the fastest pace in 15 years, partially due to huge increases in credit card usage and mortgage balances.
- Credit card balances rose more than 15% from 2021, the largest annual jump in more than 20 years.
- Total Consumer Debt is now over $2.36 Trillion, an increase of 7.3 per cent in Q3 2022 compared to last year.
What can you expect during a major Economic Collapse?
- A Run on the Banks: One of the first things you will see is a run on the banks. People are going to be panicking, and they will be doing everything they can to get their hands on cash to buy extra supplies.
- Chaos in the Streets: Once the banks run dry, you will see people turn desperate. The moment they realize the money is gone is the moment you will see widespread chaos sweep throughout the country. Riots, looting, and widespread violence will break out, making self-defense one of your primary concerns.
- Martial Law: When things start to go bad, I believe you will see the government declare a state of emergency or Martial Law. When this happens you will see things like travel restrictions, mandatory curfews, and the suspension of Constitutional rights.
So what should you do to prepare for an economic collapse?
I devoted an entire section to financial preparedness and the coming collapse of the economy in my book, The Ultimate Situational Survival Guide; because I firmly believe it’s one of the most serious threats we face.
The first thing you need to do is Develop a Plan of Action.
When it comes to economic preparedness, one of the most important things you can do is to put together a plan. If things go bad, having a plan of action will help increase your chances of surviving the chaos. Check out my list of Essential Preparedness Tips, Skills, and Resources to Prepare for Disasters & Threats.
Start being Smart with your Money
During the 2008 financial collapse, millions of Americans lost their homes, cars and personal possessions because they saddled with debt. Since the so-called COVID pandemic, that trend has begun again with millions of people who now owe more on their property than it’s worth, a vehicle repo market that is exploding, and consumer dent that is at record highs.
- If you can get out of debt, do it now. Start cutting all non-essential expenses, and use that money to pay down your debt. During an economic collapse, the likelihood of losing your home to debt collectors is a very real prospect.
- Start an Emergency Fund: Just like all areas of preparedness, there are steps you can take to insulate yourself from problems. Having an emergency fund is one way to prepare for financial troubles. It will give you a bit of a cushion during hard times, and can provide you with a fund to buy last minute supplies once things start to go bad.
- Always have Cash on Hand: Once things start to go bad, there is a very real possibility that the banks may freeze or seize your accounts. Should there be a run on the banks; people are going to be desperate to get their hands on some cash. Even during a total economic collapse, paper currency will still play a major role in how people buy and sell during the initial phases of the crisis – especially if a bank holiday is declared.
Start Prepping for Problems NOW.
Now is the time to really start taking a serious look at your overall level of preparedness. The economy has been teetering on the edge of collapse for quite some time, throw in inflation that has almost doubled the price of staple goods and the growing social unrest that’s sweeping the country and you have yourself a real recipe for disaster.
- Put together an emergency kit that includes extra food & water, clothing, a portable shelter (tents, tarps, sleeping bags.), and a way to defend yourself.
- Think about what things are unique to your situation; items like medications, or supplies that you would be hard pressed to live without, should be stockpiled in preparation for economic troubles.
- For more information on prepping, check out our article on the top ten prepping tips for every SHTF situation. Every one of those tips can help prepare you to deal with an economic crisis.
Start stocking up on Survival Supplies.
Now is the time to buy the things you need! I’m not talking about T.Vs or IPods; but instead, long-term supplies that you will need in order to survive in the future.
- Start stockpiling food and long-term consumables. During any type of crisis, food, water and long-term consumables are going to be worth their weight in gold. During an economic collapse, you will likely see major supply chain shortages and problems, making these types of supplies one of your most important pre-collapse considerations.
- Put together a Bug Out Bag: Should this country face an economic collapse, chances are pretty good it will be followed by riots, violence and something much uglier than the initial collapse of the economy. You should have a Bugout bag filled with everything you need to survive a prolonged emergency situation.
- Keep a good supply of First-Aid & Medical Supplies on Hand. Medical and personal hygiene supplies are going to be hard to come by when things go bad. Make sure you have everything you need to deal with medical emergencies.
Start Stocking up on Survival Knowledge.
Even more important than supplies, is survival knowledge. Knowledge is the key to your survival, and now is the time to get some. During any kind of disaster, including an economic collapse, knowledge is going to be your most powerful ally.
- Start reading books on survival and start collecting information on how to live a more self-reliant lifestyle.
- Subscribe to our RSS feed to stay up-to-date on all the latest economic threats and preparedness information.
- Start doing your own Research. I don’t rely on government spun stories, or skillfully crafted press releases; I do my own research and you should too!
Take a serious look at your Self-Defense.
One of the biggest threats you’re going to face during an economic crisis is the threat posed by people. The social unrest and riots we’ve witnessed over the last couple of years are going to pale in comparison to what we’ll see during a full-scale economic collapse.
- Take a serious look at gun ownership, and learn everything you can about self-defense. When things go bad, you are going to need a way to protect yourself and those you love.
- Watch for signs of social unrest, and stay alert to what’s going on in your neighborhood and throughout the world.
- During an economic collapse, problems like home invasions and burglaries are going to become a real problem. Start looking into ways to strengthen your home’s security.
An economic collapse is a very real threat, one that has far-reaching consequences that you must take seriously. If you haven’t put together a game plan, what are you waiting for? While nobody here is making any specific predictions, and I certainly can’t tell you that it’s going to happen on this date, in this year; I can tell you that the possibility is very real, and the reality of the situation is our politicians and leaders continue to put policies in place that ensure some very real future problems.