Our current recession/depression is slow creeping at this point towards a bad outcome. Although I believe US and Canada are still 3 to 5 years away from an economic collapse, I woefully believe that the collapse is coming.
Euro will collapse first. Greece and Spain have already collapsed. Italy and Portugal are soon to collapse next.
Having this insight, I have been preparing vigorously for the past 2 years. During these past 2 years, I have often thought about what the last 5 days would look like before a collapse.
Because governments will do everything and anything to delay the onset of an economic collapse, as they should, I believe the problem will build to a dramatic point, where the economy will fall off a ledge very quickly.
With the US Federal Government running $1 trillion dollar deficits for the past 3 years, how long can that continue? As some point in time, no foreign government or domestic entity will want to buy US Federal debt.
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