"This currency, as we manage it, is a wonderful machine. It performs its office when we issue it; it pays and clothes troops, and provides victuals and ammunition; and when we are obliged to issue a quantity excessive, it pays itself off by depreciation."
Benjamin Franklin, 1779.
Today, more Americans than ever are absolutely convinced that we are headed for an economic collapse. After all, it doesn't take an advanced degree in economics to understand that American consumers, American businesses, local governments, state governments and the U.S. federal government are all drowning in debt. It would be hard enough to deal with all of this debt during good economic times, but these are not good economic times. In fact, right now the U.S. economy is being pounded by an unprecedented number of economic problems. Tens of millions of Americans are unemployed or underemployed, 40 million Americans are on food stamps, the U.S. real estate crash continues to get worse, and the ongoing oil spill in the Gulf of Mexico threatens to drag that entire region, and perhaps all of the United States, into a devastating economic depression. So these days it is fairly easy to convince Americans that really hard economic times are coming. But now an increasingly large number of people have a new question. They want to know what to do about all of this. In fact, probably the biggest group of questions I receive from readers is regarding what to do in order to prepare for the economic collapse that is coming. People are tired of just talking about all of these problems and they want an action plan. Read More