Financial breakdowns happen slowly, hit an inflection point, then seemingly come out of nowhere with terrifying rapidity and ruin. From Brandon Smith at alt-market.us:
This article was written by Brandon Smith and originally published at Birch Gold Group
In light of the recent resurgence of inflation on top of increasingly rigged employments stats, declining manufacturing and stagnant wages I think it’s important to revisit a fundamental question: What does an economic collapse look like?
As I have said for years an economic collapse is NOT an event, it’s a process. When people think of a historic crisis they usually imagine something like the stock market crash of 1929 at the beginning of the Great Depression. However, there were numerous indicators and warning signs leading up to that crash that should have tipped people off. There were even a handful of economists that voiced concerns about impending instability, yet they were ignored.
Then, after the crash occurred numerous establishment economists denied that the system was in any real danger. They continually claimed that recovery was “right around the corner”, but the recovery never materialized. Instead, the crash spiraled onward for over a decade until world war erupted, largely because the Federal Reserve raised interest rates into economic weakness (a disaster they have openly admitted to causing and a policy they are instituting right now).
The point is, the mainstream “experts” are almost always wrong. The skeptics of collapse either ignore the evidence or they don’t comprehend the implications of events. They don’t want to believe that the economy is broken and that consequences are possible. They operate from the limited view of their own personal experience. For most of their lives the system has functioned without catastrophe so that must mean catastrophe is impossible. In truth, catastrophe has merely been deferred to a later date, not prevented.
“How did you go bankrupt?”
Two ways. Gradually, then suddenly.”
― Ernest Hemingway, The Sun Also Rises
Weimar footage earlier where workers would get paid and head for the store where the prices have went up since yesterday and it showed children playing with bank notes outdoors and it being used as fire kindling.
Can’t happen here?
And then one day…suddenly.
Breaking from Harold Faltermeyer:
Axel Foley Theme