Americans that have only known the post WWII prosperity are ill equipped and educated to deal with depression level living.
The forces are mounting that will eventually overwhelm most Americans and send their standard of living to unknown depths. Americans that have only known the post WWII prosperity are ill equipped and educated to deal with depression level living. Easy credit and instant gratification have created a nation of whining, self absorbed, entitlement minded people with no moral or mental toughness.
Doug Casey believes we are headed for what he calls a super depression created by the ending of a debt super cycle. The bigger the debt cycle the bigger the depression that follows. That’s how reality works and most people are not prepared for reality.
When this depression, which has already started, gets momentum, it will overwhelm the plans of a society that is expecting to get things like social security, pensions and payouts from retirement plans they have paid into for many years. All of those things will disappear almost overnight and leave society gasping and stupefied over what to do. Their reactions will be to yell and scream and try to identify who to blame but the only person they should blame is the one in the mirror.
Many very smart people have raised the alarm and done their best to warn the sleeping public, but those slumbering masses have ignored the warnings and hit the snooze button one more time. The masses do not understand economics, do not want to understand economics and they will pay dearly for that ignorance in the coming days.
When the real unemployment rate becomes common knowledge as it increases substantially, people will be left to survive on what resources they have saved up outside the banking system that cannot be stolen by the politicians and bankers. That is a key point here. The assets you have outside the system that cannot be stolen from you with a few key strokes on some computer.
WW2 was the GREATEST GENERATION !!!!! After that is the SPOILED ROTTON GENERATION that this
country has arrived at TODAY since 1975 after Vietnam !!!!
The trick to surviving a recession is to have a recession proof career along with paying for everything cash. Unfortunately, very few careers are recession proof (think, healthcare industry, education, government, and other vocational based industries.) and very few folks can pay for everything cash. After the last recession, I switched gears and left my field for a healthcare position, and downsized everything I could, including getting rid of my credit cards. It took a really long time, but eventually I was able to move into a cash only mindset. If I didn’t have the cash for whatever it was that I wanted, I either saved for it, or forgot about it. This is the lesson from America’s greatest generation – live within your means.