This article has been contributed by Mac Slavo of SHTF Plan.
An economic calamity is brewing, and as Brian at Survive Right points out, “ the articles are becoming more urgent, more prevalent and from more mainstream sources.” The collective consciousness senses that something is not as it’s supposed to be.
Paul Farrell at the Wall Street Journal’s Market Watch describes the coming global-debt-bomb explosion:
The Big One is coming soon, bigger than the 2000 dot-com crash and the 2008 subprime credit meltdown combined. A huge market blowout. And as Bloomberg-BusinessWeek predicts: “The results won’t be pretty for investors or elected officials.”
After the global-debt bomb explodes don’t expect a typical bear correction followed by a new bull. Wall Street’s toxic pseudo-capitalism is imploding. Be prepared for a massive meltdown. Yes, already the third major bubble-bust of the 21st century, triggered once again by Wall Street’s out-of-control Fat Cat Bankers. And it’s dead ahead.
We’re glad that more mainstream media outlets are warning investors of the destruction to come. While most will continue to believe the fairy tales spouted on CNN, CNBC and ABC News, at least some will survive the financial destruction to come with their retirements intact – or at least not completely wiped out.
Mr. Farrell asks if your family will survive the anarchy that follows:
This is no joke, folks. Are you prepared? Or preparing? Will your family survive in a post-apocalyptic world, when anarchy is rampant in America? Look at Washington, Wall Street and Corporate America today. You know it’s already begun.
You are witnessing a fundamental breakdown of the American dream, a systemic breakdown of our democracy and our capitalism, a breakdown driven by the blind insatiable greed of Wall Street: Dysfunctional government, insane markets, economy on the brink. Multiply that many times over and see a world in total disarray. Ignore it now, tomorrow will be too late.
The politicians will continue to play games up until the very minute the system falls apart. Whether that happens this Summer, or in 2012, or in 2015, it will happen. The system as we know it is unsustainable. We have overdrawn our ChinaCard Visa and eventually there will be no one left to lend.
In the near future we won’t be able to service our debt anymore.
The the US Dollar collapses.
Foreign nations will no longer be able to trade with the US, because our currency will be worthless.
Production, transportation and consumption of goods, essential and luxury, will cease.
The economic, political, and social systems in America will descend into chaos.
Only the prepared will have a fighting chance.
Not to worry, though, because Mr. Farrell does provide a bit of advice similar to what we have suggested to readers since SHTF Plan came into existence:
So what can the average Joe and Jane, the other 299 million Americans do? Warning: In anarchy, nobody knows. Period. The only possible strategy: “Think Swiss Family Robinson.” Stockpile like a “Happy Conspiracy Insider.”
The engine is running out of motor oil. Are you prepared for what happens when it seizes up?