Although difficult to quantify and intentionally kept out of the western media, it is more than reasonable to assume that millions died globally as a result of the last economic and financial downdraft as well. Financial ruin for the peons of the “Western World” deserves a nice big fine, a slight tap from the back of the government hand and all was back to normal sort of–as the financial institutions that were the catalyst for that round only became more powerfully concentrated in the hands of the transnational capitalist elites. But would they have received such mild disapprobation’s if the people of the “civilized” capitalist, over indebted, over-consuming nations realized their financial elites had more than the dripping gore of the blood sucking squids on their hands, but the blood of real people?
This time around, I sense they will not be so lucky. With no bullets left in the stimulus and bailout guns, this one will make the last look like a trip to Disneyland. The ring of fire is erupting not just in the geological sense, as civilizations tectonic plates are shifting for the whole world now. The damage will be very, very substantial.
It can be difficult to understand the repercussions that would follow a collapse of the global economy, stocks and debt markets. While we know a serious financial event is coming, determining how it will impact our lives and preparing an appropriate strategic plan to mitigate the fallout can be a confusing and stressful undertaking.The questions being asked by concerned Americans are plenty, but the answers are not so easy to come by. Should I keep money in my retirement accounts? What publicly traded companies are recession-proof? Will gold and silver really be of value if the whole system comes crashing down? Should I have some cash? How much food should I stockpile if the regular flow of commerce is affected? Will there be riots in my city?In the following interview with X22 Report Spotlight, well known analyst and contrarian thinker Greg Mannarino of Traders Choice succinctly explains the challenges we face as individuals and as a nation. He doesn’t mince words and goes straight to the heart of the problem: out of control debt.As Mannarino explains it, we are facing an event so serious that it will directly impact just about every person on earth. But before we can prepare for it, we need to understand what it is that’s going to happen and what a worst-case scenario may look like: