The world economy is in serious trouble. In many countries, particularly in the West, economic activity rests strongly on government ‘stimulus’.
The US will continue to try to spend their way out of the problem and in doing so will, like FDR, only exacerbate it. We are heading toward hard times such as this pampered generation cannot even imagine.
Many families are going to lose everything. Some years ago, when I had described the inevitability and gravity of a debt collapse, an incredulous friend said “but the government would never let that happen.” She splendidly articulated the soporific faith of the majority. People are about to discover the great unspoken truth, which is that the history of the world is one of people building civilizations and governments destroying them.
The first manifestation of the problem will be in the stock market. When that collapses, and it will, it will cripple pension funds and insurance companies. It will spread beyond Wall Street to Main Street. Already damaged businesses will shutter, unemployment will rise dramatically and mortgage failures will see families living in parks and banks become insolvent.
Meanwhile, the price of food will be sky-rocketing and the value of the currency will be tumbling.
I have never had cause to regret moving away from the city.
Hold Gold and silver and food.
Do not blithely assume, like my deluded friend and many others, that the government will look after you.
You will be on your own.