It is not an issue of if the world economic collapse happens, but when it happens
In 1929, the world experienced a world economic collapse when the stock market crashed ushering in the Great Depression. During this time, the price for common household items became very expensive due to inflation. Even though there was food available, people could not afford to purchase as much as they needed because of the price. Simply put, the value of currency became worthless, so worthless in fact that some people were burning it instead of wood.
Today, there are is one major threat that can cause a repeat of what was experienced during the Great Depression. This threat is the world as we know it. Here is an example of how the economic debt issues that we are facing today can cause a repeat of the 1930’s depression.Credit: flickr
The collapse could start with the financial crash of European countries such as Greece, Spain, Italy and France starting a domino effect. In turn, this could drag other European countries down with them starting a chain reaction. So far, other healthier countries have lent these weak and troubled countries money in an effort to keep them afloat. This makes the healthier countries weaker financially since they now have less money to spend on themselves.
Of course the failing countries are still loosing money because of large unemployment, the crushing debt, overspending and a weak global economy. When one country defaults on its loans, or files for bankruptcy, there is a good chance that the other troubled countries could follow the same path. This in turn would begin to devalue the Euro causing the problem to spread.
Once this happened other troubled countries would also begin to default or go bankrupt causing the Euro to lose even more value adding momentum to the domino effect. During this time the value of real estate would collapse and people would lose their homes since they could not make the payments due to the falling value of the Euro adding more fuel to the fire.
Next, the collapse would begin to spread globally as panic-stricken investors start to liquidate their investments from other countries in an effort to beat the crash. The result of this would cause stock markets around the world to crash as the world economic collapse gained even more momentum.
During this time the price of commodities such as food, fuel and other basic household items would skyrocket due to inflation making these items to expensive for most people to afford.
Unemployment would increase to record highs as businesses went out of business. When this happens people will become desperate since they won’t be producing any income to pay the bills or buy stuff. This will do two things, first it will increase the crime rate, and second it will add to the world economic collapse.Credit: Amazon
Who will be hit the hardest when the collapse of the economy happens? The answer is simple, those who are deep in debt, and the people who rely on their government for food and money. If you are deep in debt, and lost your job due to the crash, it is possible that you could lose everything that you own. Those who rely on the government to support them financially would suddenly find themselves without any form of income when the crash hits.
The future is looking a little grim isn’t it? Even though you can’t stop the world economic crash from happening, you can prepare for the crash ahead of time and reduce the impact that it will have on you. Here are the steps to take that will help you get ready for it.
First, pay off all of your debts. If you don’t owe anybody any money then the risk of having your assets seized by the banker goes down to 0%. This will give you peace of mind knowing that even if you lose your job you will at least have a house to live in. It will also reduce the impact that the crash will have on you.
Store up at least a years worth of food and water. This will also help you survive during the depression caused by the falling value of the dollar. You could even store up extra food and water to barter with because paper money will be useless during this time.Credit: Amazon
One Month Supply of Survival Food Rations
Don’t forget about guns and ammunition. During this time lawlessness will be wide-spread, and the government’s law enforcement will be stretched thin, if it exists at all during this doomsday event. You will you need to defend yourself with these weapons; however, you should not use guns and ammo to barter with since they could be used against you.
Now is the time to take action to get ready for the world economic collapse. If you wait, you could run out of time and find yourself between a rock and a hard place. On the other hand, if you get ready now you could avoid a lot of the problems that the crash will cause.