The economic collapse of Greece has led many people into thinking, “Thank goodness we’re not the the mess that is the Eurozone.” Well, don’t get too comfortable. The US isn’t in great shape either.
Economic Collapse Also Possible In The U.S.
While Greece is in a worse state than the US, we have many of the same sorts of problems they do. National debt that’s greater than our GDP, expanding entitlement programs, low workforce participation…. An economic breakdown absolutely can happen here, and the way things are going, it probably will happen.
And give us time! Like Greece, the driving force behind our debt is the growing cost of entitlement programs for health care and retirement. If one includes future unfunded liabilities for Social Security and Medicare, our real debt exceeds $90 trillion. That’s more than five times our GDP. Greece is still in worse shape — their unfunded liabilities top 875% of GDP — but we’re gaining.
What are you doing to prepare for an economic collapse like Greece is having? Let us know in the comments.
Paracord Projects6 months ago
Paracord Projects | 36 Cool Paracord Ideas For Your Paracord Survival Projects
Survival Skills6 months ago
377 Survival Hacks You Should Learn in 2022 | Your Ultimate Survival Life Hacks Guide
Natural Disasters9 months ago
Flood Survival Tips | How To Survive Before, During, And After A Flood
Fishing, Hunting, & Trapping4 months ago
Squirrel Snare | How to Make a Snare Trap Step By Step
Personal Safety5 months ago
Invasion Survival Kit | How to Survive a Home Invasion