Thursday, August 20, 2015

What's it like to experience an economic collapse?

I've been asked this question by a number of people after they've read one or more of my articles warning of economic difficulties ahead.  It's hard to answer them, because I've never been through an economic collapse as such - only severe economic difficulties.  Even when visiting African nations whose economies had collapsed, I went there with hard currency that enabled me to buy what I needed, and I could always leave and head back to the 'bright lights' of a more stable nation.

However, Ferfal (his chosen nom de blog) experienced the collapse of Argentina's economy some years ago.  In this video podcast, he describes what it was like and mentions things from which we can learn to prepare for what may lie ahead for us.

You'll find much more material on the subject at his blog.  Recommended reading.



Jacob Tito said...

It was good until he started talking about the minimum wage. This guy needs to take a couple Austrian economics courses.

Dan said...

Most people think economic collapse is an's not, it's a process. And America is well along the path of that process as are many other nations. Nobody knows for sure how far this process will go and how bad things will get.
Those who acknowledge and prepare suffer less pain. If the collapse is bad enough things can get ugly for everyone.