Is the scenario of total U.S. Economic Collapse reality?

Question

Gas Prices are shooting through the roof, Winter weat is being plowed under, and meats will suffer too because of the expense of feed for the animals.

According to my sources, the U.S. economy will have no more money to lend by either the end of 2008 or the beginning of 2009. This too, from the Federal Reserve. Is this real? Is it just fear mongering?

What can you and me do to prepare for this crises?

http://research.stlouisfed.org/fred2/series/BOGNONBR

Answer 1

In my opinion, it is reality.  The ripple affect of the price of gas is tremendous.  It is affecting JUST ABOUT EVERYTHING in our daily lives.  I would say that before too much longer we are going to see businesses going under from high expenses and low sales.  

The US debt is the largest in the world, now at 9,393,275,739,477.56.  I would say that we are just about at our credit limit.  I really don't see how the government can possibly have much money to run the country on.  

http://www.treas.gov/tic/mfh.txt

http://www.treasurydirect.gov/NP/BPDLogi...

http://www.whitehouse.gov/omb/budget/fy2...

If I were you I would start putting food back.  Also, water wouldn't be a bad thing to put back, however, make sure you purify it first.  

http://en.wikipedia.org/wiki/Portable_wa...

Answer 2

IT DOES'NT MAKE ANY SCENCE BECAUSE THEIRS ANOTHER SOURCE FOR OIL, OUR GOVERNMENT IS GIVING AWAY BILLIONS OF DOLLARS WEEKLY. I'M MOVING SOUTH. IF I WERE RICH I HAVE THE KNOWLEDGE TO DELETE GLOBAL WARMING, SEPARATE FRESH WATER FROM SALTWATER AND LOWER THE OCEANS, THUS MAKING IT EASY TO CATCH FISH. I'D MOVE TO A FISHING LAKE AND RETIRE. ME== http://www.inventube.com/ooojay/

Answer 3

I would have to say It's real. The American economy has always wanted to be a disposable one but the dollar not being worth a f**t isn't helping that any. I wasn't around back then but it seems to me we went right back to the 20's right before the depression. Deregulation brought in pieces of c**p like Enron, now all the other Corps. are getting their fair share of our pie, leaving us crumbs. And the ones that are left actually paying people IN America sure don't seem to be giving raises as fast as the dollar is falling. Which will make people hold onto the ones they have even tighter. Im single and used to always eat out, now I hardly ever do. I can remember the inflation of the 70's. I was young but I can still remember the time and it didnt seem quit as desperate as this. You knew your Utility companies couldnt jack you around back then, And health Insurance wasnt anything like it is now. And food didnt go threw the roof. Just the oil. Now their using the oil to take everything with it, But dont want to pay the workers enough to keep up. Next thing you know it will be like the old coal miner getting paid with company script to buy food at the company store. Only you never can get enough to get ahead. I think bleak times are ahead.

Answer 4

It is fear mongering. The  1st quarter GDP has just been revised upward and things are looking better than they were a month ago. The unborrowed reserves data is something of a red herring. seehttp://blogs.wsj.com/economics/2008/02/0...

Answer 5

It isn't reality, and no preparation is necessary.  Every problem appears at first to be an imminent catastrophe -- and they never are.

Answer 6

Geeee I don't know but good ol Cheney spent $50,000,000 usd on euros! sounds like a good investment! But with ecconomic collapse comes wealth somewhere doesn't it?!! Just remember with the collapse comes panic with panic comes anarchy...did you ever see that movie "Road Warrior"?

Answer 7

Buy Gold if you are afraid.