The next economic collapse is here -it’s just not evenly distributed yet.
Russia’s collapse is obvious. The Russian economy wasn’t all that great before the war in Ukraine. Western sanctions killed their economy. There are those who believe that Russia is holding out and its reserves will get it through. They won’t. A majority of foreign assets are frozen. Many other tangible goods have lost their western markets overnight. Their tech sectors are particularly hard hit. Some experts estimate the Russian technology sector has been setback decades.
China won’t save them. China has problems of its own. For about a year its real estate bubble has been collapsing. It’s a miracle it hasn’t completely fallen yet. My guess is that the only reason the collapse has been taking so long is that the average Chinese citizen has almost nothing but real estate to invest in. The CCP is aware how badly its citizens are going to react to losing their investments. Of course, the CCP is also destroying some of the country’s most powerful businesses and businessmen for the crime of making too much money. They recognize that money is a form of power and they cannot tolerate power that is not their own. The CCP’s handling of the economy is collapsing it. A surge in covid cases isn’t helping their either.
I’m not going to get into every Western nation and will concentrate on the US. It’s the big dog. Does this feel like 2007 to anyone else yet? This time real estate will be one part of a bigger picture. My guess is that the US economy will die, not from a single blow, but by a thousand cuts. Covid is still working its way through the country. People are sick and tired of selling their time for too little. Billionaires are getting even more obscenely rich increasing societal income disparity. Energy prices are putting the brakes on. There’s a lot of balls in the air and some have begun to fall.
So much for the quick overview. My question to you is: how are your going to get through the coming collapse? How did you do in 2008? If it hit you hard you’d better not be in the same position you were then. It will be worse. Perhaps we shouldn’t be looking at 2008 and we should be thinking 1929.
What are your plans? It better involve solutions to food and fuel shortages. We know that’s happening right now. Even with it currently in progress a lot of people are in denial. I’m dealing with those two issues right now. Our household diet has adapted and we are already using a lot less fossil fuels. 2008’s collapse hardly affected me. If that was the level I thought this collapse would be like I’d be happy. I’m not happy. This will get ugly.
Of course, it won’t get ugly for everyone. Some people have better plans than others. Others know how to quickly adapt to changing reality.