Current Economic Collapse News: Companies Beating Earnings Tumbles To Lowest Since Q1 2009, Record Unemployment, Food Stamps, Debt, Poverty


Source: Barclays

Think the economy is recovering think again.
JP Morgan Chase 19,000
JC Penny 15,020
IBM 9,400
Boeing 5,800
American Express 5,400
Wells Fargo 5,236
Cisco 4,500
Met Life 3,150
Dish Network 3,000
United Tech. 3,000
The economy is already in a collapse
Record Unemployment
Record Food Stamps
Record Debt
Record Poverty

A job engine sputters as hospitals cut staff

US teen unemployment hits new record

Census puts U.S. poverty rate at 15 percent, record 46.5 million

23,116,928 to 20,618,000: Households on Food Stamps Now Outnumber All Households in Northeast U.S.

New record: Federal Reserve owes more than $2 trillion in US debt

U.S. risks joining Germany of 1933 in debt default

Article Continues Below

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Impending Financial Chaos: How do we prepare?
It’s a given that the US Dollar is crashing and will lose its status as the world’s reserve currency (already happening). The question then is, what is the best way to prepare for this?

1- W/D all cash from banks?

2- Put IRAs/cash on hand into precious metals?

3- Buy a lot of supplies?

4- Max out your credit cards?

5- Put all your money into a credit union?

Pros and Cons, Questions, of Each Option

1- Where would you keep the cash, and how would you pay your bills, esp. if some of them are a significant distance away? It would cost more in gas to run around paying them all each month.

2- What if you need some of it to live on? You can set up monthly withdrawals, but there is a fee/tax on each one.

3- Yes, always good to have supplies of food, water, medicine, fuel, etc. But how much? FedGov will confiscate what it can find, and is already treating preppers and self-sufficient farmers as terrorists. Hoarding also means being immobile and requiring a small army to defend the stash.

4- This is very risky, as nobody knows exactly when or even if all owed funds will simply be written off. People like the credit card companies surely know about this and would be prepared for it.

5- Are credit unions really safer than banks? Will they too be giving “haircuts”?


We need practical, realistic discussion about what people can do to prepare for an unknown scenario for an unknown time.


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