Preparing for the Economic Collapse of 2015 If some economists are to be believed, 2015 will be the year when all the chickens will come home to roost. Most prominent among these theorists is David Levy, whose grandfather had correctly predicted the Great Depression of 1929. David Levy, who is the chairman of The Jerome Levy Forecasting Center in New York, is of the opinion that 2015 will mark the start of another major recession that will last for a considerable amount of time. Levy is not the only economist who is predicting an economic collapse in 2015; Professor W. Thompson of Indian University also projects that the economies world over will see a downturn in 2015. In our previous articles on this blog, we discussed the reasons why the economy will collapse in 2015. In this article, we will discuss the aftermath of the US economic collapse and how you can survive it. Events that will happen in the aftermath of American Economic Collapse of 2015
- Martial law: Considering the widespread impact of a collapsing economy on the sentiments of people, it is expected that the government will use the National Defense Authorization Act (NDAA) to its advantage. The NDAA will give the government the power to detain any individual considered as a threat for an indefinite period.
- Travel restrictions: An American economic collapse in 2015 can trigger travel restrictions, including suspension of passports. An economic collapse will also cause travel restrictions to be put in place at highways/checkpoints.
- Confiscation of wealth: A catastrophic economic collapse can make the government to take extreme steps, which also includes confiscation of wealth. The laws passed by the European Union give it the authority to confiscate bank accounts through bail-ins. Although real estate and precious metals are not covered under the rule, but it doesn’t mean that they are safe. Governments around the world have been known to make some difficult decisions whenever their economies are in dire straits, and 2015 can turn out that point of time in history.
- Shortage of food: An economic collapse can lead to shortage of food in the world. The food industry is expected to take a severe hit as it survives mostly on small profit margins.
- Get out of debt
- Save for the rainy day
- Practice frugal living
- Learn new skills
- Research about the winners