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Or just a website pedaling to fear mongering so it can increase sales of his book and "supplies" that he convienently lists right there on the website.
Anxiety ridden depressed chicken little's love to crow this crap. People keep predicting it over and over and over again....and it never seems to happen. Survivalists since the 1960's have been crowing it, Adventists have been crowing about it since the middle 1800's, rapture ready nuts have been crowing about it since before the black death.
The Economic Collapse Blog itself has been posting this crap daily for almost 7 years and nothing has happened either.
It's not that recessions don't happen, it is just these huge economic catastrophes don't just because there is bad news or recessions. It's like someone getting a cold and thinking they have terminal cancer that is just on the verge of killing them. It is not a sign of being more in touch or smarter than everyone else in the world in either circumstance.
Espousing this junk is a sign the person doing so needs mental help. Nothing more.
I say so for other readers since every person who has started expressing this crap never comes to a moment where they realize they are wrong. They certainly don't have a moment of clarity and come back to say they were wrong, either from posted evidence or when the time frame of the prediction ran weeks or months over. It's post after post of this junk...and ignoring or running away from evidence when predictions fail.
Last edited by EmeraldCityWanderer; 05-23-2014 at 10:51 AM..
Are we eventually headed for an economic collapse or are these signs just "chicken little" crying that the sky is falling.
Are we eventually headed for an economic collapse?
Absolutely, I can't say exactly when, but sooner or later the growing level of national debt in this country will become unsustainable and the dollar will collapse. I however do not believe in any of these end of the world predictions other doomsayers claim will happen. Other Countries economies have collapsed without the world ending, and some have emerged stronger than before. Germany is a good example of a country recovering from a failed economy and ultimately becoming powerful world economy. So weather it's next month, 5 years from now, 10 years, 20 or 50, I can't say, but I do know sooner or later it WILL happen.
Not only is the growing national debt unsustainable the U.S. shale oil boom that our leaders believe will continue for decades to come doesn't apear to be sustainable as well. The estimated amount of recoverable oil buried in California's vast Monterey Shale deposits was recently cut by 96%. You can read about this here...
So hopefully during the next presidential election the candidates will discuss transitioning the United States to alternative sources of energy like solar, wind, geothermal, etc. We live in a finite world and drilling for oil increases the risk of an economic collapse in the future.
We are all being played. After the 2008 defaults, the government finally became aware of the seriousness of our financial situation. The government started all the money pumping to shore up the banks with extra money to protect them from a run on the banks. The officials will never admit this because the very mention of this could start a run. The official words for the money pumping has been described for other more mundane purposes.
Because of the historically low interest rates, investors have been herded into equities. Like the sheep being corralled to wait for the truck to take them to market, we all sit waiting for something to happen.
These are very unique times that are not duplicated in any history book. The final chapter is unknown to anyone.
Whenever I research a new stock, I always see the statement that "past performance is no guarantee of future returns". That's not there for their health.
Of all the people, I have known over my working years, more people that have declared that "the market always recovers" are broke then any others. In fact, every one that I still know (some died while still working) are still working when they should have been retired years ago.
I practice risk management with my money, so the decision to get out was very easy and very comforting.
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