Economists like Richard Duncan and Peter Schiff are predicting a global economic collapse. They are predicting unemployment, street fights and riots in a massive scale, at least in America, and the death of more than half of world population in 3-4 years. What do you think? How will you prepare if economic collapse is imminent?
One of the facets of movies depicting this scenario is the filth. The people are all filthy. Imagine a city of 1 million without running water -- never mind drinkable. If we remain in huge population centers with out electricity and water, it will be very ugly. It is our technology spurred by enterprise that allows us to congregate as we do. And that congregation is not sustainable without it.
Well, the government is trying everything to stimulate economy and jobs, but nothing is happening is not nonsense.
America's debt crosses 100% of GDP is not nonsense.
Fed announced an open ended QE3 is not nor.
If money supply increased too much inflation can occur, not nonsense.
Chinese economy is having trouble is not nonsense.
Jobs are needed for people to become consumers is not nonsense.
Service economy does not need much jobs in a slow growing population is not nonsense.
When there is job miss people can go to wall street and protest is not nonsense.
When the number and hunger increases riots can happen is also not nonsense.
So what is nonsense?
Indeed. But economic troubles does not equate to half the people in earth dying. That is nonsense. Any country with good technology and agrarian base (China, US etc) could get through complete economic collapse without anything near those causalities. And I don't think complete collapse will happen. Unemployment in the US (an influential world economy) is 7.8% and dropping. That is not an rate that deserves panic.
Do you know agriculture contribute less than 5% of America's GDP and labour force and less than 20% of China's?
When money has no value, for what should the producers be producing? Before 2nd world war, in Germany, people had to carry sacks of money to buy a loaf of bread. Money is the basis of exchange, in the severely contracted economy the only thing that has value is food, not currency, not gold let alone shares or stock certificates or bonds. And unlike the earlier times when the food to population ratio was 10 to one, it is now one to one.
And unemployment is not dropping as it should. It is just fluctuating around the value of 8. But open ended 40 billion every month is the price we are paying for the slight drop. A monetary policy with out fiscal will cause inflation. We still have monetary policy left, to post-pone the inevitable. But only post pone, for we cannot contract the excess supply of goods in the market and the demand cannot be boosted beyond a point.
I can well believe the economic collapse part, but the death of half the world's population sounds far-fetched.
That was from Richard Duncan's book the new depression. He says that when economy collapse people will (Also peter Schiff's crash 2)have no money to buy food and the government will not be in a position to help. As all economies depend on America, an American collapse will spread through out.
Back about 1992 I was sent on a mission (trade) to Mexico. The mission was to bargain for and get the most amount of fertilizer to China from Mexico. Call it Urea. The Fermosa Chinese entered the bidding. The USA was concerned of large quantities of Bomb materiel (think OK, McVeah) Me, I missed the mark the Chinese would accept by 1.75 cents a ton. I messed up and did not corral my people. I created a two week delay, partially because of a huge Mexican holiday. Over 4 thousand people died in rioting in China, due to lack of fertilizer at planting time. Those are not significant numbers to Red Chinese. I think I have some hub about it.
This true scenario is so much more likely that not, that it is scary. What is 2 million to 2 billion.? The Chinese abort more children than that in six months.
Food for thought is all. Me, I have enough gas stored to get my family into the mountains --- But I am afraid I will be called to minister to the sick and dying.
This is most likely an exaggeration, but economic collapse is inevitable, and making reasonable preparations for one is very sane behaviour.
Do I think it is possible? Yes, Do I think it will happen in that mass over the next 10 years? No. However if it does I am well prepared.
Sounds like the TV show "Revolution"' with no electricity and going back to the basics to survive. For those that have a huge gun collection & food, the have-nots will get in there somehow.
Once money gets to a point where it can no longer be printed, prices go sky high for commodities and as a result food too. Some crimes nowadays are just to survive . Imagine when prices double, triple, or quadruple. I also don't think it will be mass. But It will be all hell for certain countries.
As the world population grows we will have less and less individual freedom. Individual privacy - such as it is now...and that in itself grows more suspect what with cameras and monitoring devices everywhere - will become a thing of the past. Whether it will ever get to the stage where we're all micro-chipped like pet cats and dogs are it is uncertain, but we will all be studied from the infancy until death. Aldous Huxley's 'Brave New World,' written in 1936, could well be the way we'll go.
In Huxley's novel, ordinary birth from a female womb was a thing of the past. All humans were conceived and nourished in a test-tube environment and fed with greater or lesser nutriments as decided by the Central Government. A few at the top decided how many of the human populace they wanted as intellectuals, those who would be service and trades people, and those who would simply be the 'dirty unwashed' and be paid weekly with a drug fix.
Sound awfully pessimistic. It'll be up to us to see it doesn't happen.
by jerryl 8 years ago
What's your opinion, and the reasoning behind it?
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