Folks, I hate to break it to you, but it looks like nasty times are arriving in the USA. Whether you have any investments or just plain depend on social security, life as we have known it for the last 25 years is over.
Go back to the 70s for the lite version of what will happen first.
Go back to the 30s depression era for the worst-case scenario (even though it "seems" the government has saved the day, the jury is still out on the long-term fallout).
And here I present to you a personal viewpoint of someone who actually lived through the collapse of a country's government:
Obviously expecting economic collapse on particular day is silly.
Such collapse will take some time, and will get progressively deeper, once more and more *possible* measures of government are applied and exhausted.
I may give you a hint:
In 1988-1990 Poland collapsed and this was economic collapse.
GDP fallen by more than 40% at that time, unemployment exceeded 35% and this makes your Great Depression to be walk in the park.
In Russia that GDP drop was even deeper (70%+), if I remember well.
I was living through that collapse stage in Poland and I remember increasingly desperate measures of government to resolve problem and these were working for a month or two and then invariably failing.
Incidentally *war on speculators* with draconian penalties for these was one of favourite measures.
It was failing miserably, as peoples were finding increasingly creative ways to *speculate* (ding, ding... US is already beginning to stigmatize *speculators*).
There was attempts to control inflation by freezing prices and salaries and with all powers steaming from central planning government still were losing that battle.
It taken about 2 years to get to the bottom and no intervention of government could help.
By that time government was so defunct and defeated, that they voluntarily surrendered to opposition in exchange for not prosecuting party members.
So if we talk about US, which has far bigger economy, that process may take longer (say 4 or 5 years).
You will see increasingly devastated economy, meantime you will hear more and more lies from government that things are getting better, you may face martial law on the way, but it will not help.
Essentially you may say that regardless what you are doing or not doing, outcome will be same and it will take a form of ruin.
However it will take TIME, means several years of fast deterioration, then several decades of slow deterioration, until you reach a bottom.
In normal situation after few years of collapse you would see beginnings of recovery, but it will not be the case this time.
Because problems with resources will begin to play their game...
Link to online forum where I found this: Forum
I don't know if it will get that bad here, but the fact is, we seem to be the tip of a Titanic situation WORLDWIDE. Your guess is as good as mine.
Hey, but it IS interesting, fascinating even. History in the making! Buckle up, the ride is just beginning!