Is the world about to experience an absolutely crippling economic collapse? That is the conclusion that we have come to after years of research. The truth is that the world economic system is essentially a mountain of debt based on paper money that is backed up by nothing. History has shown that any economy based on debt and paper money will always fall apart in the end – especially when greed and corruption are huge factors in the equation as they are today.
In particular, the United States finds itself in a massive economic mess. It was once the greatest creditor nation on earth, but now it is the biggest debtor in the history of the world. It blows the mind to think that the “richest nation in the world” has become the nation with the most debt in the history of the planet in just one short generation.
But rather than learning the lessons of the past, this current administration is making the long-term economic problems far worse by spending American taxpayer dollars as if they were monopoly money. In an effort to “stimulate the economy” and “bail out” troubled financial institutions, the current administration has put future generations in so much debt that it is basically mathematically impossible for them to ever get out of it.
Not that U.S. corporations and financial institutions are doing any better. They have created a financial black hole known as “derivatives” that threatens to destroy the entire financial system at any moment. Most large U.S. corporations are either so highly leveraged or have so much exposure to derivatives (or both) that even a slight shift in the economic winds can capsize many of them.
Of course we all know about how much of a mess American consumers find themselves in. Credit card debt has absolutely exploded this decade and the majority of Americans now find themselves living month to month. Personal bankruptcies and mortgage defaults continue to set all-time record after all-time record. Millions of Americans are losing their jobs and millions of Americans are losing their homes as the economy continues to implode.
The U.S. government continues to go into debt so fast that it is absolutely mind blowing. Pension funds from coast to coast are broke. Banks are failing at a frightening rate. Millions of good jobs have been shipped overseas for decades and they simply are not coming back. Without good jobs, the American middle class cannot support the bizarre debt spiral that has kept the U.S. economy going for so long.
What is ultimately going to happen is that the financial authorities will flood the money supply with tons of cash in an effort to “print” our way out of the economic crisis. But all that will do is cause hyperinflation and will absolutely destroy the value of the dollar. All of the accumulated wealth of the American people will disintegrate before their eyes as their dollars quickly become worthless.
So, no, the future is not pretty.
And that is what we will be documenting on this website.
A global economic collapse is coming and it is going to rip the world apart.
You better get ready.
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SOURCE : theeconomiccollapseblog.com