If you have been waiting for a public announcement or news headline to let you know that an economic collapse has begun, you are in for the surprise of your life. If history in other countries and in Detroit, Michigan is any indication, there won’t be an announcement. An economic collapse tends to sneak up on a city, region, or country gradually over time. In some cases, the arrival of an economic collapse is so gradual that most people living in it aren’t even aware of it at first.
Things just get gradually worse, often so gradually that people and families adjust as best they can until one day they actually realize that it’s not just their home or their neighborhood that has been hit so hard financially, it’s everyone. By that time, it’s often too late to take preventative action.
In March of 2011, Detroit’s population was reported as having fallen to 713,777, the lowest it had been in a century and a full 25% drop from 2000. In December 2011, the state announced its intention to formally review Detroit’s finances. In May of 2013, almost two years later, the city is deemed “clearly insolvent” and in July of 2013, the state representative filed a Chapter 9 bankruptcy petition for Motor City. Detroit became one of the biggest cities to file bankruptcy in history.
So we have only to look at what happened in Detroit, Michigan post-bankruptcy, to get an indication of what might soon be widespread across the United States and what is already widespread in countries like Brazil and Venezuela.
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There’s really no way to predict the timing of an economic collapse with any certainty and in most cases, an economic collapse will occur gradually without much warning unless you are paying close attention to activity and events going on around you and around the world. The best way to be prepared when it does happen is to start changing your lifestyle now, in the ways discussed above, so that you and your family can survive hard times in the future.
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How is the US government getting ready for a potential collapse? By stockpiling weapons and ammunition and threatening to outlaw US paper currency. These are NOT good signs.
Anyway, forewarned is forearmed: