Every End Times website, Dooms Dayer blog and Prepper article you read will say one thing or another that is just plain crap!
What is the absolute truth when and if we have a global financial meltdown?
We can learn from the past global financial meltdown in 1929 that lasted 12 years and actually took a World War to sort of bring it to a close but saying that would be false too.
Predictor that is common today compared to 1929 Stock Market crash?
1929: Housing prices were inflated and when that bubble burst they lost 90% of value in many places. Now: We partially recovered from the burst housing bubble only to be there again.
In 1928 stock prices were riding on air and public investors were spreading themselves too thin in an unstable market and those then “smart guys” were shopping for bargains and within a year those bargains lost 75% – 80% of value then total collapse. Now: stock market is highest it ever been but its all smoke and mirrors based on “hope” not fact.
In 1928 nearly 500 banks failed, and in 1929 another 600+ and by the end of the Great Depression over 9,000 had failed; all because people quit spending and lost confidence in the banking system. Now: People don’t have disposable income and they are again not spending and have no confidence in the government.
US GDP dropped nearly 40%. Now: Our economy is in a downward spiral nearly 30% loss in our GDP in first half of 2015.
1929 – 1941: Food lines were massive. Now: 45 million Americans are on “food stamps”, they just aren’t standing in massive lines like those early days.
1929 – 1941: The banking system and economy were in crisis, runs on banks to withdraw funds, vulnerable housing and investment markets and disruption of international currency flows. Now: Greece for example and Puerto Rico – it’s like that again only many times worse.