Biggest Economic Shitstorm In 80 Years Is Coming! – The Coming Collapse Will Be Far Worse Than The Great Depression And You Need To Be Prepared
The causes of the Great Recession seem similar to the Great Depression, but significant differences exist. The previous chairman of the Federal Reserve, Ben Bernanke, had extensively studied the Great Depression as part of his doctoral work at MIT, and implemented policies to manipulate the money supply and interest rates in ways that were not done in the 1930s. Bernanke’s policies will undoubtedly be analyzed and scrutinized in the years to come, as economists debate the wisdom of his choices. Generally speaking, the recovery of the world’s financial systems tended to be quicker during the Great Depression of the 1930s as opposed to the late-2000s recession.
If we contrast the 1930s with the Crash of 2008 where gold went through the roof, it is clear that the US dollar on the gold standard was a completely different animal in comparison to the fiat free-floating US dollar currency we have today. Both currencies in 1929 and 2008 were the US dollar, but in an analogous way it is as if one was a Saber-toothed tiger and the other is a Bengal tiger; they are two completely different animals. Where we have experienced inflation since the Crash of 2008, the situation was much different in the 1930s when deflation set in. Unlike the deflation of the early 1930s, the US economy currently appears to be in a “liquidity trap,” or a situation where monetary policy is unable to stimulate an economy back to health.
In terms of the stock market, nearly three years after the 1929 crash, the DJIA dropped 8.4% on August 12, 1932. Where we have experienced great volatility with large intraday swings in the past two months, in 2011, we have not experienced any record-shattering daily percentage drops to the tune of the 1930s. Where many of us may have that ’30s feeling, in light of the DJIA, the CPI, and the national unemployment rate, we are simply not living in the ’30s. Some individuals may feel as if we are living in a depression, but for many others the current global financial crisis simply does not feel like a depression akin to the 1930s.
1928 and 1929 were the times in the 20th century that the wealth gap reached such skewed extremes; half the unemployed had been out of work for over six months, something that was not repeated until the late-2000s recession. 2007 and 2008 eventually saw the world reach new levels of wealth gap inequality that rivalled the years of 1928 and 1929.
The Great Depression was a severe worldwide economic depression that took place during the 1930s. The timing of the Great Depression varied across nations; however, in most countries it started in 1929 and lasted until the late 1930s. It was the longest, deepest, and most widespread depression of the 20th century. In the 21st century, the Great Depression is commonly used as an example of how far the world’s economy can decline.
The depression originated in the United States, after a fall in stock prices that began around September 4, 1929, and became worldwide news with the stock market crash of October 29, 1929 (known as Black Tuesday). Between 1929 and 1932, worldwide GDP fell by an estimated 15%. By comparison, worldwide GDP fell by less than 1% from 2008 to 2009 during the Great Recession. Some economies started to recover by the mid-1930s. However, in many countries, the negative effects of the Great Depression lasted until the beginning of World War II.
The Great Depression had devastating effects in countries both rich and poor. Personal income, tax revenue, profits and prices dropped, while international trade plunged by more than 50%. Unemployment in the U.S. rose to 25% and in some countries rose as high as 33%.
Cities all around the world were hit hard, especially those dependent on heavy industry. Construction was virtually halted in many countries. Farming communities and rural areas suffered as crop prices fell by approximately 60%.Facing plummeting demand with few alternate sources of jobs, areas dependent on primary sector industries such as mining and logging suffered the most.
Expert economist Peter Schiff thinks the coming collapse will be far worse than the Great Depression and you need to be prepared.
If you were about to take a final exam, would you have more hope or more fear if you didn’t understand any of the questions and you had not prepared for the test at all? I think that virtually all of us have had dreams where we show up for an exam that we have not studied for. Those dreams can be pretty terrifying. And of course if you were ever in such a situation in real life, you probably did very, very poorly on that test. The reason I have brought up this hypothetical is to make a point. My point is that there is hope in understanding what is ahead of us, and there is hope in getting prepared.
In the end, each one of us needs to make the decisions that we feel are best for our own families.
So that is why it is so incredibly important not to let someone else do your thinking for you.
In America today, the average person watches 153 hours of television a month. In addition to that, we also spend countless hours watching movies, playing video games, listening to music, reading books and surfing the Internet.
What most Americans don’t realize is that there are just six giant corporations that control almost all of that content, and that makes them immensely powerful.
These giant media corporations are constantly manipulating our attitudes, opinions and beliefs. And at this point most Americans seem quite content to remain “plugged into the matrix” and to allow corrupt corporate executives somewhere to do their thinking for them.
This video explains the steps one should take to prepare for an Economic Collapse
Financial advice and preparedness
Peter Schiff — It’s Gonna Be Awful!
The next thing you need to do is make a plan. What threats are you MOST concerned about? What preparations can you do that will help you no matter what kind of disaster you face? What skills & supplies do you currently have? Which skills do you need to develop & what supplies do you need to start getting? What if you have to bug-out? What if you can’t bug-out and you have to Survive In Place?
You will continually be modifying your plan based on opportunities and your unique situation, so don’t feel like the plan you make today will be set in stone.
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