Numerous economists and investors are warning of another great financial crisis to come but few people want to listen to them. No crisis is ever exactly like the last one and the next great depression will be different from the last one. In the last depression those who had money were in a good financial position to ride it out but the next depression will see those with fiat money drowning in it as it becomes worthless.
Very few Americans have any significant savings today. Most live on credit and those with savings have it stored in financial instruments that will be wiped out as the bankers collapse the system to hide the theft they have been involved in for decades. Those who think they will retire with their IRA, pensions or social security will suddenly find them all gone never to return leaving them with no means to care for themselves.
The west line has moved to Asia. This means that North America is no longer the shipping center of the world. The consequences of this for Americans will be disastrous. This means our economy in the future will be smaller and slower and will result in a standard of living far below what it currently is.
Those that own very few assets free and clear will become the new homeless as they become jobless and default on all of their credit obligations. All of the social safety nets that exist now to keep people fat and happy will fail leaving mobs of people to roam the streets to seek out what they need to survive. One only has to look at Venezuela today to see where this will all lead.
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