One of the first things people do when the economy collapses is rush to the bank in order to withdraw all their funds. Results of Collapse Commodities will be worth only what you can barter for them at any given moment. We are on the brink of a really serious financial and, to some degree, even social and environmental meltdown—increasing income and wealth inequality. Posted: 1/28/2021 10:39:52 AM EDT It’s wealth reset and middle-class destruction. Now, since the U.S. economy is such a large beast, it will be difficult to bring it down, but considering how close we came in 2008, it would be unwise to ignore the possibility. It’s going to be the GREATEST Depression! Economic Depressions vs Collapse. One thing many people don’t realize, though, is that banks don’t keep enough cash on hand to pay out anywhere close to the amount of money they owe. 8. If the U.S. dollar rapidly loses value, it would create hyperinflation. Yet, whatever we call it, this is clear: it is much the biggest crisis the world has confronted since the second world war and the biggest economic disaster since the Depression of the 1930s. With these potential causes in mind, let’s take a look at what will happen if economic collapse were to become a reality. Calm down and think. But I guaran-damn-tee ya, it will start on a Monday. A bank run could force banks to close or even go out of business, cutting … I don't know how many hours, days, weeks, months or years we have until a total economic collapse happens. As Adam Smith points out in Wealth of Nations, these occasionally happen as the market corrects imbalances within itself. In the extremely unlikely event of a "total economic collapse," you won't need to worry about outstanding loans, Social Security or Medicare accounts, or the value of precious metals. First of all, re-read Step 8 in the above article. Any of the following seven scenarios could create an economic collapse. To begin with, I think it’s important to differentiate between economic collapse and economic depression. The Temporary Collapse Of Texas Is Foreshadowing The Total Collapse Of The United States. A Permanent Great Depression. A depression is a rather normal part of the market cycle. Simply put, an economic collapse, interchangeably used with the term financial collapse, is a series of very severe economic conditions. It’ll be a total economic collapse next year. According to Harvard Historian Nancy Koehn, yes — we are very vulnerable again, and we're finding ourselves in a similar setup as in 2008: the rise of right-wing leaders around the globe, and the decline of protective financial measures. Banks Close. How America will collapse (by 2025) ... Kennedy's prophecy that we are going to be a great nation that has failed because we lost control of our economy and overextended." February 18, 2021 by Michael Snyder. 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