A post submitted by CGI member Dave68.

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Coming, the most severe financial crisis of our times. A financial crisis so severe 99% of all Americans will be financially devastated. They will in fact be far worse off than those who experienced the Great Depression of the 1930’s. And yet, even though some economists are sounding warnings about the impending financial catastrophe no one is even paying the slightest attention to the earthquake of economic doom. Not one presidential candidate or the media has even bothered to alert the public about a disaster of Titanic proportions unfolding right under our feet.

We have to go back to the time when stocks dropped by more than 12% losing over $3 trillion in value. We are being beguiled into thinking that our financial footing is all well and good when in fact the exact opposite happening. What is happening is our whole financial system is now just a house of cards where just one tiny cross breeze of inflation would send that whole house of cards tumbling down and with it wiping our practically everyone’s financial means of support. To put it more bluntly just imagine waking up and going to get gas for your car. Your credit or debit card will not work because the banks have already frozen your account. And, what little cash you have on hand won’t be enough to even buy a loaf of bread. Scary isn’t it? A real imminent full blown financial crisis will soon be at our front door.

To put this in perspective right now corporate debt is over $30 trillion and counting. American consumers are now holding over $733 billion in credit card debt. They hold over $1 trillion in auto loan debt. This while today student loan debt has reached over $1.4 trillion with more than 12% of these loans are in default or overdue by more than 90 days. All this debt is strangling the life blood of our whole economy.

Compounding this problem is the fact that the economy in the United States has remained flat for over four decades. But wait there is good news if you happen to be in the 1%. Your net worth just keep growing by leaps and bounds. While the 1% dine on caviar and champagne the rest of us eat hot dogs and stale beer. Without a growing economy or having the “Williams Theory of Economic Evolution being fulfilled there is no possible way for the United States to ever be able to pay back all this accumulated debt. Simply put The U.S. economy is withering and dying on that vine of lost opportunities. This, despite the biggest stimulus of new cash, think of all those Qualitative Easing programs the Fed pumped out and the exorbitant amount of and credit available. Yet, we have far fewer real living wage jobs being filled or even being offered today than we did just 15 years ago. Thus, the typical household has even far less income. This while the cost of living keeps increasing. Too many are trapped into a cycle of having to rob Peter to pay Paul just to make it through one more day. There are a lot of people out there who know deep down that something’s not right in America. Could it be that with all this debt increasing every day a great credit crash is inevitable?

Read the rest of the article BELOW:

https://prepper1cense.com/2024/11/02/the-great-credit-crash-a-real-imminent-financial-crisis-will-soon-be-at-our-front-d