While the mainstream media propagandists continue to push the lie of a robust recovering economy, the fact is, we are in some serious fiscal trouble. Economies around the world are crashing, countries are drowning in record amounts of debt, and governments continue to pile on new debt like there’s no tomorrow.

What is an Economic Collapse?
Economic collapse, in its simplest definition, means a sudden and severe drop in currency value, leading to a financial crisis. It usually happens when the country’s economic activities are mismanaged or when an unexpected event throws the country into chaos. Some examples of such events are terrorist attacks, natural disasters, political upheaval, severe social unrest, financial bubbles , a collapse in government, and pandemics.

A look at Prior Economic Disasters, Depressions and Market Collapses

Throughout the history of the world, there have been many instances where countries have experienced an economic collapse, leading to severe consequences such as hyperinflation, high unemployment rates, and poverty. In extreme cases, economic collapse can even lead to a societal breakdown, with people experiencing shortages, social unrest, and struggling to survive.

The earliest recorded economic collapse occurred in 176 BC when the Roman Republic experienced a severe financial crisis that eventually led to massive inflation and debasement of the currency. The government’s response to this crisis was to issue more coins with decreased silver content, resulting in worsening hyperinflation and a sharp decline in the purchasing power of its citizens. This eventually led to social unrest and political instability, eroding the strength of the Roman Empire over time.

Another significant economic collapse occurred during the Great Depression of the 1930s, triggered by the stock market crash of 1929. During this period, businesses failed, banks collapsed, and unemployment soared to unprecedented levels worldwide. The depression had far-reaching negative consequences, some of which ultimately led to World War II.

In 1997, the Asian Financial Crisis rocked Southeast Asia, causing widespread economic instability and social unrest. The crisis began with the devaluation of the Thai baht, leading to investors withdrawing their capital from other Southeast Asian countries. This, in turn, led to a sharp decline in the value of their currencies and an economic recession. As a result, millions lost their jobs, and poverty rates rose steeply. Some nations recovered relatively quickly, while others, such as Indonesia, suffered profound economic and political upheaval for several years.

The most recent collapse occurred in 2008 when the subprime mortgage crisis shook the global financial markets. The crisis began with predatory lending practices by mortgage lenders, high-risk borrowing by homeowners, and the buying and selling of risky loans between financial institutions. When homeowners began to default on their mortgages, banks and insurance companies suffered huge losses, and trust in the financial system evaporated almost overnight. As a result, governments worldwide were forced to intervene to avoid a total collapse of the financial system.

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