Economic Collapse Possibilities

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The economic crisis that began in 2008 isn't over - not by a long shot! In fact, the crisis is deepening and things are going to get worse in 2011 - a lot worse!

Here are some quotes taken from
60 Minutes episode of December 20, 2010

"It's here now, the day of reckoning has arrived and its going to arrive everywhere. This is unsustainable, it's over!" - Governor Chris Christie of New Jersey
"There will be hundreds of billions of dollars of defaults
by city, state and county governments within 12 months."
- Respected Analyst Meredith Whitney
"The debt crisis is already making Wall Street nervous and some believe that it could derail the recovery, cost a million public employees their jobs, and require yet another big bail-out package no one in Washington wants to talk about."

The vast majority of experts now agree - the U.S. standard of living is entirely unsustainable. Their only disagreement is about how soon the collapse will come. Many experts are pointing to 2012 as the year of the breakdown.
And many of the top authorities are openly predicting that not only will the collapse occur during the next few years (2011 and 2012) but that the events will unfold much more rapidly than anyone expects.
How will you get by when food prices triple over the coming two years? How will you heat your home and run your car when energy prices explode so terribly that government rations both electricity and gasoline?


How will you make ends meet when the government restricts Medicare, Medicaid and Social Security benefits to only those who are completely destitute and have no other source of income or assets?

Predictions for 2011:



City, state, county and federal government agencies will be forced into laying off over a million high-paid government workers. In addition their generous retirement benefits will be slashed by half or more.

A dozen or more cities in California will be forced into bankruptcy which will result in the layoffs of thousands of firemen, police and other city workers. And many will never see the incredibly generous pensions they've been promised!

With over 19% of our citizens unable to find employment, the largest new class of people will be the permanently unemployed!

On December 13, 2010 the White House issued a paper entitled "The National Commission on Fiscal Responsibility and Reform. in which they laid out drastic cuts in Social Security including reductions in benefits, cost of living allowances, delayed retirement benefits and other reductions. When these new cuts take place the social security system as we have known it will crumble.

As a result of cuts in government services such as police, fire and trash removal will be either severely reduced or eliminated altogether forcing residents to pay huge new fees to private firms for basic services.

These stock market may climb during 2011 for a very simple reason. The republicans in congress have plans to privatize the social security system and need an surging market to justify the plan. This move will allow the Wall Street brokerage houses to loot the social security fund and leave retirees high and dry!

Due to dramatically increased energy demand in the emerging Asian countries, the world price of oil will skyrocket in 2011. Expect the per barrel price to exceed $100 in the coming months. How does five bucks a gallon for gas sound to you? And that will only be the beginning. The chaos in Egypt will only

WARNING: If you drive a gas hog V8 or V6, now is the time to sell it while it is still worth something. When the price of gas hits around $4 a gallon your gas hog won't be worth spit. No one will want it, not at any price. Gas hogs will become completely worthless!

In 2011 China will revalue their currency upward which the U.S. government has been demanding for some time now. The result will be a defacto devaluation of the U.S. dollar. Imported goods will become much more expensive.

Bernanke will resort to even larger and bolder economic stimulus spending, even resorting to the direct purchasing of U.S. stocks to help support the stock markets. He'll also punish banks who hold cash and refuse to lend.

As government entitlement programs are slashed, mass rioting in major cities. Crime will explode. Police departments all over the country are stocking up on tear gas and rubber bullets in preparation.

Over five million homes are now in foreclosure. Over 903,000 homes were foreclosed in the third quarter of 2010 - a record. Unless we start creating millions of new jobs - the real estate market will never recover! Recently when TV financial advisor Suze Orman was asked when the real estate market was going to recover she replied "MAYBE NEVER!"

Over 5 million Americans are now living off their retirement funds, 401k and IRA accounts.

Free food pantries all over the country are being overwhelmed with demand! During 2011 Congress will be forced to cut off long-term unemployment benefits to many of the unemployed which will cause the number of those forced to seek free food to explode!

My goal isn't to alarm you, instead I want to prepare you—prepare you for what may be the worst economic collapse in our nation's history...

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The truth from a man who lived through the Great Depression: