A BOOK HARDLY ANYONE WANTS TO READ OR THINK ABOUT
Sent by Rod Remelin
/resources/uploads/files/ECONOMIC CRISIS - PREPARE FOR IT.pdf
When the subject of preparation comes up, normalcy bias tends to kick in. It seems that things have been okay so far, so they will probably remain okay. Things have not been "normal" for a long time, but the changes are so gradual and subtle that we accommodate like the frog in the ever-warmer water that finally boils.
Just as a three inch hole in the hull of a 200,000 ton super cargo ship will take a long time to even be noticed, sooner or later it will admit enough water to sink the ship. The US economy has been experiencing "leaks" for a very long time. Lets look as just the recent past. In 1986, the average price of a Big Mac in the US was $1.60 In 2018, the average price is $5.68. In 1986, a first class postage stamp cost 22 cents. Today, it's fifty cents. In 1986, gasoline was 93 cents per gallon. The national debt was about $2.1 trillion; now it's $21 trillion.
But wages? For over forty years, though productivity has averaged increasing about 1.3% each year, wages (adjusted for inflation) have averaged increasing only 0.2% each year. Most wage earners are treading water and becoming more and more tired. Around 95 million working age people are not even in the labor force, but most of them are not counted as unemployed.
Considering its overwhelming debt loads for national debt, personal debt, student debt, credit card debt, automobile loan debt, retirement fund debt and home loan debt, the country is drowning in debt. The national debt and some of the others mathematically can never be paid.
The dollar is strong against other currencies, but that is only relative. On an absolute basis, the dollar is in bad shape and worsening as the petro dollar is eroded more and more by nations trading in their own currencies. If interest rates rise from their historic lows, the debt crisis will accelerate.
Put all this together, and you have a precariously leveraged system that only needs some kind of fairly minor push to cause it to collapse. It could be something political, something financial or a natural disaster.
We knew exactly when Y2K would happen, but we didn't know how bad it might be. With the economic collapse, we don't know exactly when it will come, but we definitely know how terrible it will be. There are increasing signs and predictions that it will be soon. How do you want to bet?
Read the attached short booklet, or don't read it. It's your choice.