You think 2008 was a bad year for the stock market and the economy? You haven’t seen anything yet! In Europe they’re already calling this economic recession a depression, and those who got their predictions right list time around (which aren’t many), are predicting something much worse this year, which will amount to the worst economic depression in American history…
Okay, so here’s the scenario. There is going to be a commercial real estate collapse in late 2009 that will dwarf the sub-prime mortgage collapse of September 2008. In other words, the worst is yet to come. The market is going to completely collapse – like nothing we’ve ever seen before.
There may be an initial panic that results from this, possibly producing a run on the banks. This may force banks to close their doors for an extended period of time, making it impossible to retrieve cash. I can’t imagine this lasting longer than a few weeks at the most, but then who knows?
After that America will settle in to an economic depression worse than the Great Depression of the 1930s. By Christmas 2009 the unemployment rate will be well over 10%. By Christmas 2010 we can expect an unemployment rate of around 20%. (Yes, I’m serious.) But if that wasn’t bad enough, the worst is yet to come.
Sometime in late 2010 to early 2011 the United States will lose it’s AAA credit rating. We will begin to see signs of hyper-inflation, as stimulus cash floods the market with more U.S. dollars than have ever existed in history, causing the value of those dollars to plummet. At around the same time we can expect the United States federal government to begin seizing all private gold assets as it did in the 1930s and 1860s.
What we’re talking about here is a total and complete economic meltdown of the United States of America that has been about 50 years in the making. It will be like nothing we’ve ever seen, and not even anything like what our grandparents saw in the Great Depression. It’s going to be worse - much worse. Crime will increase like nothing we’ve ever seen before. Kidnappings for ransom will be a regular occurrence in America, just as it is in some third-world nations. Home invasions will be on the rise. Street muggings and identity theft will sky rocket. New York City will begin to look a lot like Mexico City.
After that things start to get a little sketchy. We’ll start to see serious political ramifications to these economic events. The 2010 election is up for grabs. Democrats will be the big losers, but that doesn’t mean Republicans will be big winners. We could see the rise of a third party or random independent candidates. Likewise, some states will begin to seriously consider the idea of secession, and by the 2012 election that may actually happen. The United States could possibly be divided into multiple smaller countries.
Historically speaking, one thing that always seems to happen when nations get into trouble like this is war. It’s the tendency of politicians to try to divert attention away from their massive mistakes by creating an even more massive mistake – WAR! I’m not predicting war mind you, I’m just saying this is a recurring theme we see throughout history when nations get into the kind of trouble we’re about to get into. So that remains a distinct possibility for the near future.
So now that you know the future, what should you do about it? The answer is simple. PRAY! Pray that God will use this horrible catastrophe for some kind of greater good, and that he will meet your family’s needs throughout it all.
As for what you should do to prepare, I don’t think you need me to tell you that. Just assume that everything I’ve written here is the gospel truth. Just assume it’s all going to happen the way I said. Now, what do you need to do to get ready? THAT’S what you should do!