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17 Signs That Most Americans Will Be Wiped Out By The Coming Economic Collapse

Consumption

The vast majority of Americans are going to be absolutely blindsided by what is coming.  They don’t understand how our financial system works, they don’t understand how vulnerable it is, and most of them blindly trust that our leaders know exactly what they are doing and that they will be able to fix our problems.  As a result, most Americans are simply not prepared for the massive storm that is heading our way.  Most American families are living paycheck to paycheck, most of them are not storing up emergency food and supplies, and only a very small percentage of them are buying gold and silver for investment purposes.   They seem to have forgotten what happened back in 2008. 

When the financial markets crashed, millions of Americans lost their jobs.  Because most of them were living on the financial edge, millions of them also lost their homes.  Unfortunately, most Americans seem convinced that it will not happen again.  Right now we seem to be living in a “hope bubble” and people have become very complacent.  For a while there, being a “prepper” was very trendy, but now concern about a coming economic crisis seems to have subsided.  What a tragic mistake.  As I pointed out yesterday, our entire financial system is a giant Ponzi scheme, and there are already signs that our financial markets are about to implode once again.

Those that have not made any preparations for what is coming are going to regret it bitterly.  The following are 17 signs that most Americans will be wiped out by the coming economic collapse…

#1 According to a survey that was just released, 76 percent of all Americans are living paycheck to paycheck.  But most Americans are acting as if their jobs will always be there.  But the truth is that mass layoffs can occur at any time.  In fact, it just happened at one of the largest law firms in New York City.

#2 27 percent of all Americans do not have even a single penny saved up.

#3 46 percent of all Americans have $800 or less saved up.

#4 Less than one out of every four Americans has enough money stored away to cover six months of expenses.

#5 Wages continue to fall even as the cost of living continues to go up.  Today, the average income for the bottom 90 percent of all income earners in America is just $31,244.  An increasing percentage of American families are just trying to find a way to survive from month to month.

#6 62 percent of all middle class Americans say that they have had to reduce household spending over the past year.

#7 Small business is becoming an endangered species in America.  In fact, only about 7 percent of all non-farm workers in the United States are self-employed at this point.  That means that the vast majority of Americans are depending on someone else to provide them with an income.  But what is going to happen as those jobs disappear?

#8 In 1989, the debt to income ratio of the average American family was about 58 percent.  Today it is up to 154 percent.

#9 Today, a higher percentage of Americans are dependent on the government than ever before.  In fact, according to the U.S. Census Bureau 49 percent of all Americans live in a home that gets direct monetary benefits from the federal government.  So what is going to happen when the government handout gravy train comes to an end?

#10 Back in the 1970s, about one out of every 50 Americans was on food stamps.  Today, about one out of every 6.5 Americans is on food stamps.

#11 It is estimated that less than 10 percent of the U.S. population owns any gold or silver for investment purposes.

#12 It has been estimated that there are approximately 3 million “preppers” in the United States.  But that means that almost everyone else is not prepping.

#13 44 percent of all Americans do not have first-aid kits in their homes.

#14 48 percent of all Americans do not have any emergency supplies stored up.

#15 53 percent of all Americans do not have a 3 day supply of nonperishable food and water in their homes.

#16 One survey asked Americans how long they thought they would survive if the electrical grid went down for an extended period of time.  Incredibly, 21 percent said that they would survive for less than a week, an additional 28 percent said that they would survive for less than two weeks, and nearly 75 percent said that they would be dead before the two month mark.

#17 According to a survey conducted by the Adelphi University Center for Health Innovation, 55 percent of Americans believe that the government will come to their rescue when disaster strikes.

Just because you are living a comfortable middle class lifestyle today does not mean that it will always be that way.

If you doubt this, take a look at what is going on in Greece.  Many formerly middle class parents in Greece have become so impoverished that they are actually dumping their children at orphanages so that they won’t starve…

Scores of children have been put in orphanages and care homes for economic reasons; one charity said 80 of the 100 children in its residential centres were there because their families can no longer provide for them.

Ten percent of Greek children are said to be at risk of hunger. Teachers talk of cancelling PE lessons because children are underfed and of seeing pupils pick through bins for food.

If the U.S. economy crashes and you lose your job, how will you and your family survive?

Will you and your family end up homeless and totally dependent on the government for your survival?

Get prepared while there is still time.  If you do not know how to get prepared, my article entitled “25 Things That You Should Do To Get Prepared For The Coming Economic Collapse” has some basic tips, and there are dozens of excellent websites out there that teach people advanced prepping techniques for free.

So there is no excuse.  You can trust that Ben Bernanke and Barack Obama have everything under control, but as for me and my family we are going to prepare for the giant economic storm that is coming.

I hope that you will be getting prepared too.

The Economic Collapse blog



22 Comments on "17 Signs That Most Americans Will Be Wiped Out By The Coming Economic Collapse"

  1. Arthur on Thu, 27th Jun 2013 11:09 am 

    Good old christian libertarian Gary North is chiming in today:

    http://www.garynorth.com/public/11165.cfm

    “Meanwhile, the Medicare system, which has to start at age 65, because the private insurance companies kick everybody out of their programs at age 65, will bankrupt the federal government. There is no question about this. The system is over $220 trillion in the hole: Kotlikoff’s 2012 estimate.”

    Default is coming, the only question is when. It is going to start in the US and from there it will spread over the planet. International trade will come to a halt and for a long time be replaced by barter, on a very low level.

    Social order will break down in areas with mixed ethnic population, like happened in New Orleans. Syria/Yugoslavia will come to a street near you.

  2. Hugh Culliton on Thu, 27th Jun 2013 11:21 am 

    With tongue-in-cheek, I’d point out that you don’t necessarily need to be well prepared, you just need to be well armed and know where the peppers in your neighbourhood live. Seriously though, the longer that the inevitable is postponed by quantitative easing and other Ponziesque measures, the harder the poop’ll hit the fan.

  3. J-Gav on Thu, 27th Jun 2013 11:50 am 

    While I agree that there’s going to be another big systemic hit on our financial/economic system, and that there’ll be many a surprised bozo out there, I’m not so sure it will “wipe out most Americans.” Plenty of blood on the wall – yes, but I have my doubts about total economic collapse in the near term – I think that’s more likely to drag out for a while.

  4. rollin on Thu, 27th Jun 2013 1:57 pm 

    From the description above telling the current state of people’s finances. the crash has already occurred.
    We were sold out fifty years ago and it never stopped. This isn’t a crash, it’s a steady decline bringing generation after generation into low income and poverty.

  5. Arthur on Thu, 27th Jun 2013 1:58 pm 

    “whipe out most Americans” is probably meant to be financially.

    Here is a similar recent overview by Die Welt, a firmly US loyalist German MSM:

    http://www.welt.de/img/wirtschaft/origs111865855/4259728-w900-h600/DWO-EU-27Nachhaltigkeitsran.jpg

    The dark blue bars indicate explicit financial debt, highest in Greece and Italy, with others in relatively manageble territory; the light blue bars indicate the extent of promises made by the government in terms of pensions and health care and handouts. For the US it is more than 1200% GDP, or ca. 180 trillion $. That is roughly the 220 trillion Gary North is talking about, refering to Kotlikoff. Bottom line: there will be no pensions in the US relatively soon.

  6. Arthur on Thu, 27th Jun 2013 2:10 pm 

    Correction: if you add up implicit and explicit debt you arrive at 1337% debt/gdp ration. if you divide 220 trillion by 13.37 you arrive at 16.4 trillion, which is indeed US gdp. So Gary North/Kotlikoff are right with their 220 trillion $ debt, of future deficit rather. It is the amount of money the US is expected to pay in the future, based on promises made in the past, for which no revenue is expected to come in, in the same future. This is the crash Orlov probably is talking about (I never read him).

  7. GregT on Thu, 27th Jun 2013 2:46 pm 

    The world’s monetary systems, and economies demand infinite exponential growth. Infinite exponential growth is a mathematical and physical impossibility on a finite planet. The only reason that collapse has not already occurred is due to an exponential increase in debt, which is nothing more than a claim on future human labour and physical resources.

    The collapse is coming, it won’t be long before the US starts to look like much of Europe and the Middle East already does, and it won’t be much longer after that, until the entire planet looks like Zimbabwe.

  8. BillT on Thu, 27th Jun 2013 4:10 pm 

    Arthur, you act as if Europe is on another planet and not part of the failure to come. I think you are going to be one of those blindsided if you actually believe that. You claim to be technological educated, but how much do you understand world finances? You do understand that there is about $1.5 Quadrillion (1,500,000,000,000,000) in hedge bets out there that will crash the system at the first sign of collapse. No bank will be immune. The game will be over. The reset will not be anything like today.

  9. Arthur on Thu, 27th Jun 2013 4:40 pm 

    http://www.welt.de/img/wirtschaft/origs111865855/4259728-w900-h600/DWO-EU-27Nachhaltigkeitsran.jpg

    Bill, Greg, please help me interpreting this graph. Who is closest to breaking point? Italy, Germany are fine. France not too bad either. Britain and Holland are already in the danger zone. Greece, Ireland and the US are basket cases.

    Do you have any other info from an MSM? Please show me.

    It is from info like this that I come to the conclusion that the trouble is going to start in the US, just like in 2008.

    And where do I say or act as if Europe is from another planet? In my first post I wrote:

    “It is going to start in the US and from there it will spread over the planet.”

    Just like in 2008, no one is going to be immune. The resulting collapse will be global. But it will start in the US. Not that it really matters where it starts.

  10. GregT on Thu, 27th Jun 2013 5:27 pm 

    Arthur,

    It has already started in Europe and the Middle East, and it will eventually spread from there. The US can kick the can down the road for longer as they can monetize their debt. In the race to the bottom appearance is everything.

  11. Arthur on Thu, 27th Jun 2013 5:54 pm 

    Greg, Greece is not Europe. Greece was the consequence of juvenile behaviour of Greek politicians, who thought that Europe would foot every bill, so they borrowed every euro they could lay their hands on, once they were in the euro. They got spanked and rightfully so.

    And grey old Europe is not young frustrated ME. There is no revolution brewing in Europe other than resentment against mass immigration (UK, F, NL, B).

    Just discovered this Brit, exactly what most ordinary Europeans want to hear:

    http://www.infowars.com/my-name-is-paul-weston-and-i-am-a-racist/

    And the US btw has seen OWS and Teaparty. And kicking the can only will work as long as foreigners, notably the Chinese, are willing to cooperate. How much longer?

  12. Kenjamkov on Thu, 27th Jun 2013 6:44 pm 

    The Chinese are always willing to give you as much rope as you need… to hang yourself.

  13. Ed on Thu, 27th Jun 2013 6:53 pm 

    In the event of a crash, prepping isn’t going to help you for very long. It’s this win-lose mentality that has got us into this situation in the first place. I would like to think that in Britain we will pull together, share resources and develop new monetary systems. After all, food and energy production would still continue after a financial collapse. Perhaps you preppers should stop watching those Mad Max vids.

  14. c8 on Thu, 27th Jun 2013 6:54 pm 

    Reason #18- over 50% of Americans do not have a back up microwave oven if their main one goes out!

    These type of people have cranked these lists out every month for the last 20 years. Look at the name of their blog.

  15. Mike on Thu, 27th Jun 2013 9:55 pm 

    @ Ed, it’s s nice sentiment, but have you seen what happens to humans when food is scarce? preppers have every right to prepare away . When people lose everything they lose it, Now I’m not saying it will be Mad Max, but it will be really ugly, some communities will survive and some will destroy themselves. In the communities that survive they will indeed be doing the things you suggest. The big cloud hanging over us all is the nuclear power plant one. What happens if the workers can’t get to work? Well quite a lot of death. We need to shut all nuclear down right now to stand a chance at building something good from the ashes of collapse.

  16. PrestonSturges on Thu, 27th Jun 2013 10:32 pm 

    >>>Social order will break down in areas with mixed ethnic population, like happened in New Orleans.

    You mean whites will start randomly killing blacks, like the 5 or 6 cops that went to prison for shooting an unarmed retarded black teenager?

  17. GregT on Thu, 27th Jun 2013 10:50 pm 

    Mike is correct, nice friendly people turn into barbaric animals very quickly when they get really hungry. History has shown us that we even eat each other when faced with starvation.

    Prepping is a very intelligent thing to do. Our municiple, provincial, and federal policy makers have been warning us for years to be prepared in the case of unforeseen emergencies. Most people just ignore them. Most people will not be able to take care of themselves if the need arises, and if things get bad enough, they will not survive.

  18. Feemer on Fri, 28th Jun 2013 2:15 am 

    Prepping is really only good for short term and immediate crises, such as the power grid going out for a few weeks or a disruption in oil supply for who knows how long, one, two months? how will food be shipped to your grocery store? So prep, but also learn how to grow food because your food will not last forever. I would also like to add that although Germany and to a lesser extent France seem fine at the moment, Britain has NO resources left, and Greece will drag the eurozone down with it, particularly Italy, spain, Portugal, and Ireland, and then England. Another crisis will come I think, but the fracking boom is helping the US and Europe (natural gas being exported mainly there), and I think we should be fine for another few years, but use that time wisely.

  19. GregT on Fri, 28th Jun 2013 3:53 am 

    The savvy prepper would be preparing not only for a few days or weeks without power, water, or food. He would be preparing for a permanent change in lifestyle. There are many that are doing just that.

  20. BillT on Fri, 28th Jun 2013 3:57 am 

    Arthur, if you rely on MSM propaganda, you are definitely lost…

  21. DC on Fri, 28th Jun 2013 4:34 am 

    Yes Greg, the prov. govt does offer disaster preparedness advice. But there horizon for being prepared is you have to admit, a rather limited one. I mean, I’m sure you’ve seen this

    http://embc.gov.bc.ca/em/hazard_preparedness/Personal_Safety.html

    Now 72 hours is IMO, 3 days.Now having food and water for 3 days is better than having food and water for zero days, like most people as you point out. But to to me, 3 days feels like they are expecting a Just-in-time disaster. And that after a very short period of time-all will back to ‘normal’. To me, people should be prepared at a minimum for 2 week periods of being on there own. All these 72 hour emergency plans are all predicated on the idea that centralized fossil-fueled systems will always bounce back-now and into the future.

  22. Arthur on Fri, 28th Jun 2013 5:19 am 

    Bill, Gary North is not the MSM, far from it.

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