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.
What is an Economic Collapse?
Economic collapse, in its simplest definition, means a sudden and severe drop in currency value, leading to a financial crisis. It usually happens when the country’s economic activities are mismanaged or when an unexpected event throws the country into chaos. Some examples of such events are terrorist attacks, natural disasters, political upheaval, severe social unrest, financial bubbles , a collapse in government, and pandemics.
A look at Prior Economic Disasters, Depressions and Market Collapses
Throughout the history of the world, there have been many instances where countries have experienced an economic collapse, leading to severe consequences such as hyperinflation, high unemployment rates, and poverty. In extreme cases, economic collapse can even lead to a societal breakdown, with people experiencing shortages, social unrest, and struggling to survive.
The earliest recorded economic collapse occurred in 176 BC when the Roman Republic experienced a severe financial crisis that eventually led to massive inflation and debasement of the currency. The government’s response to this crisis was to issue more coins with decreased silver content, resulting in worsening hyperinflation and a sharp decline in the purchasing power of its citizens. This eventually led to social unrest and political instability, eroding the strength of the Roman Empire over time.
Another significant economic collapse occurred during the Great Depression of the 1930s, triggered by the stock market crash of 1929. During this period, businesses failed, banks collapsed, and unemployment soared to unprecedented levels worldwide. The depression had far-reaching negative consequences, some of which ultimately led to World War II.
In 1997, the Asian Financial Crisis rocked Southeast Asia, causing widespread economic instability and social unrest. The crisis began with the devaluation of the Thai baht, leading to investors withdrawing their capital from other Southeast Asian countries. This, in turn, led to a sharp decline in the value of their currencies and an economic recession. As a result, millions lost their jobs, and poverty rates rose steeply. Some nations recovered relatively quickly, while others, such as Indonesia, suffered profound economic and political upheaval for several years.
The most recent collapse occurred in 2008 when the subprime mortgage crisis shook the global financial markets. The crisis began with predatory lending practices by mortgage lenders, high-risk borrowing by homeowners, and the buying and selling of risky loans between financial institutions. When homeowners began to default on their mortgages, banks and insurance companies suffered huge losses, and trust in the financial system evaporated almost overnight. As a result, governments worldwide were forced to intervene to avoid a total collapse of the financial system.
As history shows, it’s not if but when! Therefore, preparing for an economic collapse is vital to your survival, especially in today’s world, where the global economy is interdependent. Any event, even those in other parts of the world, can have a ripple effect on other countries. This article will provide tips on how to prepare for economic collapse.
Are we heading towards an Economic Collapse?
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.
As we’ve been covering for some time now, a look at the numbers and data shows we are heading for a potential disaster. From a series of high profile banks going bust to record inflation combined with major supply chain shortages, our economy seems to be heading right off the cliff.
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 $50 trillion. While that might seem like an insurmountable amount of debt to recover from, the fact is, we have already surpassed that number many times over.
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.
The overall Economic numbers are downright Scary!
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- Stock & crypto markets crash, U.S. debt to soar past $50 trillion within 10 years as Biden to Raise Taxes
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- Food Shortages: American Food Supply in Real Danger, expected to get worse in 2023
- US inflation surges as economy becomes top preparedness threat
- U.S. money supply, which measures safe assets households and businesses can use to make payments, has fallen abruptly since March and is negative on a yearly basis for the first time since 2006.
- Mortgage payments as a share of income have doubled from 13% to 26%, and the savings rate has plummeted to almost zero.
- Total household debt increased by 8.5% in 2022 and now stands at a record $16.9 trillion. That’s $2.75 trillion higher than it was pre-pandemic.
- Sales of commercial mortgage bonds have taken a nose dive, plummeting about 85% year-over-year as commercial real estate investors are bracing for what looks like a wave of defaults throughout the commercial real estate industry.
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?
- 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.
- 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?
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.
The first step in preparing for an economic collapse is to have a plan. You should have a clear idea of what to do in case of a financial crisis. This plan should include steps you would take to protect yourself and your family.
A good starting point would be to have some emergency savings. These savings should be enough to cover your living expenses for at least six months. This could be in cash, precious metals, or other assets that can hold value during a financial crisis.
Another important aspect of your plan should be to have a source of income not affected by the collapse. This could be through investing in assets that will not lose value during a crisis, such as gold or silver (or good ol beans and bullets!). Alternatively, you could start a side business that provides a steady income stream.
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 they are 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.
During an economic collapse, supply chain disruptions and shortages of essential supplies are possible. Therefore, it is essential to stockpile some essential supplies to tide you over during the crisis. Now is the time to buy the things you need! I’m not talking about T.Vs or IPads; 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.
- Some of the critical supplies you should consider stockpiling include food, water, medicine, and toiletries. You should also have a backup power source, such as a generator or solar panels, in case of power outages and infrastructure breakdowns.
Be Prepared to Feed Yourself when the Collapse Hits!
- Best Emergency Food: The Top Survival Food Supplies
- Survival Food – 56 Long-Term Survival Foods and Supplies at the Grocery Store
- Prepper 101: Your Survival Guide to Getting Started
Grocery Options that ship right to your Home:
Pay Off Debt
One of the biggest challenges during an economic collapse is debt. High levels of debt can be a significant burden during a financial crisis, especially if you lose your source of income.
Therefore, paying off any high-interest debt before a financial crisis hits is essential. This will help reduce your monthly expenses and free up money you can use for other essential things.
If you have a mortgage, it may be wise to consider refinancing to a fixed-rate mortgage, which can provide some stability during the crisis.
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.
During a crisis, the skills that are in demand may change, and having a wide range of skills can increase your chances of finding employment or starting a new business. Some valuable skills to learn are gardening, carpentry, welding, and plumbing. These skills can help you make repairs or grow your food, saving you money and keeping you self-sufficient during a crisis.
Additionally, learning new skills can also increase your current earning potential, which can help you build your emergency savings or invest in assets that will hold value during a crisis.
- 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!
To truly be prepared, you need to learn how to be 100% self-sufficient.
- 30+ Self-Reliant Resources: Preparedness Skills that Everyone Should Know
- Urban Resources: Finding Food & Water During a Long-term Disaster
- Survival Fishing: Top Tips for Finding Fish during a Long-term Survival Situation
- Off Grid Living: A Real-world Guide to Going Off the Grid
- Homeschool: Taking your Child’s Education Off The Grid!
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.
Be Prepared to Defend Yourself
- Situational Awareness: How to Protect Yourself by Developing your Situational Awareness
- 7 Rules of Self Defense
- Self Defense: Defending yourself from multiple attackers
- Improvised Weapons: Self-defense in the Real World
- Ham Radio – Emergency Communications
- The Ultimate Situational Survival Guide: Self-Reliance Strategies for a Dangerous World
Preparing for an economic collapse can be challenging, but it is essential in today’s uncertain world. By having a plan, diversifying your investments, stockpiling essential supplies, learning new skills, and paying off debt, you can increase your chances of surviving and thriving during a financial crisis.
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.
My husband got me a book on emergencies to give me some guide lines. People would be happy to have everyone panic and buy everything they put out. My main concern is who wants the power the worst. Obama had many in his advisers that are proud socialists and communists. He is busy making people miserable to have people believe we really don’t have the money. He wants us all to allow him to give away more money and have more printed which takes the economy all out of wack. Then we will look to the government and people who haven’t paid any attention will do what ever they tell us to do.People need to start paying attention.
im 13 and my mother and i have been stocking up supplies for about a month and a half now. i need to know a good place to get good survival manuals cheap. thnx
How long does one need to prepare for?
until u need to use what u have been preparing.so try to prepare at least 3 years
what i meant was prepare enogh to last at least 3 years by then you should be able to live off the land
Hello, Ron here-
I’m willing to give and take prepping advice. I have about thirty acres of land that myself and several members of my micronation meet on weekly to add to our growing stockpiles..
I find it hard to believe that so many people take the 17 trillion in debt so lightly and they simply are not ready.
hi i am a fifteen year old prepper prepping for a second civil war that will rip this nation in two
What side are you on in that civil war?
You people are unbelievable. Our economy will not “collapse” our nation has been through so much worse and this just shows your non patriotic attitudes. What’s funny is that even in the event that this happens I have access to military weapons and vehicles so I don’t need to prepare for anything I’ll just mosey on down to my unit and pick up a few machine guns and a humvee. Good luck wasting all of your money on mental retardedness :)
I am patriotic but it’s towards something that no longer exists. America… She died 100 years ago and the economy is already utterly collapsed I hope you enjoy the taste of your guns when it becomes apparent the environment is dying rapidly and cannot sustain you.
It is possible but not probable to feed the world in the future. But look up ocean anoxia just one of the thing building up right now. Essentially it will wipe out most life on the planet and thats not the only thing to worry about assuming the debt ponzi scheme of the owners of the fed and other central banks is resolved and we can even cooperate to save ourselves we have lots to work on. In the great depression wild game nearly went extinct in a world with a lot more wilderness and a lot less people.
You and your humvee have no chance at all against an army have starving people I am afraid what do you think you are a one man superforce???
Mostly white people who are not going to like being in the minority, and somehow think their votes are more important then other voters. Good luck in your bunkers.
Knowledge is wealth. Here is a tip, caddisfly larve live under rocks in freshwater all year round. They are extremely common, under almost every rock, and edible raw. They are also packed with protein and larger than most grubs. The best part is nobody knows they exist, even fisherman dont know they exist.
with the 2 amendment on thin ice there is a good chance there will be a full blown revolution but with all of that the us is fucked over and then there is the largest ponzi scheme in the history of the world 100 year plus long muli trillion dollar ordeal every scheme ends so both brobily in the next year or 2 because im one of the few that will brobily be exicted for fighting terrine but in order to do that have to commit high tresion to fight to save the country are armed forces are try so hard to protect that is falling out of the peoples hands in to corrupt government that has grown to large for its own good is this related yes in order for the gov to take back the country thay will recrut foren miltry help it will end one way or an other in a war where the peolpes only hope are those who beleave in the prinsibles of the country we all be long to so when it all goes to hell hide for a a few days then get the hell out of dodge the us troops will do all they can to not shoot any american but if you can mountains are good and safe if in very dangerous regions do to cliff’s and prediters but freash water and meat is very importent but stay clear of hot zones or where there is massive groups of people being shot this my not be what you all expest or care to know but its basic knowledge but if your going to stand and fight be ready for hell it will come one way or an other
I have been preparing for 8 years I moved to Canada as I know UK will be hit very hard. Never mind about welfare or wages there will probably be nothing to buy
I pray that the troops employed will not shoot civilians.The civilians will probably have to steal etc to survive The bartering system will be massive as will black market. I worked in Romania for 4 years and had to get up at 4am and line up for 4 hrs to get bread so I can imagine whats coming, in 1992 I saw supermarkets with nothing on their shelves so good luck to all we are going to need it to fight this terrible system
Since late, 2013, I have been buying silver and gold. I will be honest, most of it is silver. Silver is going to be the poor man’s gold. I am buying $500.00 just in silver. Silver is right now 20.00-21.00 an once. There is more silver being traded on the stock market than is above ground. Silver is mainly used as and industrial metal and is not recycled like gold. Go to your nearest coin shop and start buying it. Don’t forget food as well.
Im a 11 year old very worried about the Us economic collapse. My parents find this to be mumbo jumbo. What should I do. I dont want them to get angry at me if I secretly use their credit card. I dont get allowances. I want my family to move to canda. What should I do plz help
What is a way I can make easy money without stealing from my parents wallets or bank accounts
slowly stock up things like can goods and such.
I know your parents are trying to help you grow up with no worries, but in this day of age, everyone should worry.
Try and find a small job you can use to earn some money. Suggest it to your parents that you want to save for “college” or something. Then save the money up and slowly stock up on necessities. You can find several websites useful in providing fallout lists to survive.
I don’t want to go against your parents. But, you’ll be happy you’re prepared when this goes down.
And even if it doesn’t, that’s a big if, then you will always be prepared for a natural disaster as well. It’s a win win situation.
One of the best things you can do at your age is to LEARN. I would suggest learning as many Skills as you can, such as Edible wild plants, herbal medicine, first aid, how to start a fire, sharpen a knife, knot tying skills, how to fire a rifle, how to swim, how to defend yourself (krav maga), how to fish, make friends you can trust. Remember, knowledge is power, more so than stuff. Hope this helps, and God bless you and yours.
I see a problem in the near future happening. Especially with what has been going on as of late!
My husband and I are slowly stocking up our necessities to survive a crash. We’ve also decided to not have kids for a year or so, just to make sure we can survive first successfully.
If you believe that Jesus Christ is the Son of God, died on the cross for YOUR sins and rose from the dead where He sits at the right hand of God the Father – you will be included in the Rapture which can happen at any moment. All of the prophecies pertaining to the Rapture have been fulfilled. Next year – in 2015 – the Prophecy of Joel will be fulfilled as ‘the sun turns to darkness and the moon into blood before the coming of the awesome day of the Lord.'(Joel 2:31) In 2015 the two blood moon that appear on Passover and Feast of Tabernacles will both be preceeded by a solar eclipse! In the Bible God poured his Wrath on the Children of Israel with the Seven Sets of Seven – omens of disaster. These same omens are being poured out on America for turning its back on God. September 2001 – the SEVEN bldgs of the World Trade Center were destroyed in the terrorist attack; seven years later in September 2008 the Dow Jones fell 7000 points and seven years from then brings us to September 2015 – THE PROPHECY OF JOEL!
Greg, I’m sure you love the Lord, and that your intentions are good, but your Theology stinks. Please don’t embarass yourself as a false teacher when your predictions fail. There was a book out “98 reasons why the Lord will return in 1998”. I can give you one reason why He wouldn’t.
I am a 46 year old medical professional. When I was 6 years old I was visited by what I call the blue light, the light appeared to me and told me to, “be prepared, everyone is called to this but few will listen”
I have always heeded this advice.
Collapse is happening right now, societal systems are collapsing just as foretold by many cultures, humans have been duped into becoming docile farm animals, sedated by diet and media.
My family and I have moved continents in order to be in a safer place, I am using the Internet right now to let the remaining people know that it is this very media that is the control. The Internet is used for ALL of your data, purchases, work, communications etc etc. It is the number and mark as described in revelations. Remove yourself from the systems, it is difficult, very difficult, but it can be done. Awaken and use your natural intuition, don’t look at the media, social networks, tv, they’re all compromised. I hear the word Paranoid, well, I have neither psychosis or personality disorder, most humans have forgotten the most basic survival skills to the extent that most can’t even grow or prepare their own food… and mark my words this is happening right now. Wake up, prepare, In the name of Jesus Christ I implore your you listen.
we have to take back this country and fast so,many people dont see whats coming arm yourselves and get ready for war kill or be killed
But all this can be avoided. It wouldn’t be easy but it’s very possible. Step 1 remove the current administrations. I mean everyone from Hussein on down. Granted they might not be all bad but let’s not take chances. Step 2 Leave the UN. Why? Its simple we have to get back to what America is about and focus on fixing on our own problems. In the spirit of George Washington on foreign affairs let the foreigners handle it. And the scariest step of all. Abolishing the dollar and other monetary currencies from our way of life. Now that is the hardest thing for people to get their head around. Is it really so far fetched? Seeing as our current system was destined and designed to fail. Flawed in nature, with the act of printing debt. Because all money really is is debt. I could go on and on about the flaws in the banking system and the reasons America decided to no longer back our money with gold, but I wont. If we as a nation decided enough is enough. And choose to no longer recognize the current monetary based economy. What will we replace it with? How about a resource based economy. Again not as out there as you might think. The theory and technology to carry it out has been around since the 70’s. Even more so now. Just look up Jacque Fresco and the Venus Project. If you think about it all our problems are money. Crime,war,poverty(of course), hunger, terrorism, hell even addiction and health problems. Money. Now before you start the hate comments or classify me as one radical or another. Think about it. Seriously.
We are going to have a financial collapes. It will happen on Sept. 13,2015. you must prepare yourselves for horrific times. This will just be the beginning of many sorrows. I beleive we are already in the beginning of tribulation and there will be many sorrows for us to live thru until the great tribulation. Thats when those that beleive in God and his son Jesus will be caught up in the rapture. So get right with the Lord, repent and change your ways before its to late.
must be a jahovas whitness,now man knows the day or hour,ignore these people and read the bible yourself
After reading the comments left by readers I have concluded that the break down in society is comming because of a bunch of uneducated idiots that cant even write or speak proper english. Some of these comments are completely unreadable.