Argentina’s Debt Crisis

As America heads towards an economic collapse due to its crazy national debt and runaway spending, we can learn some great lessons about how to prepare for the SHTF (Sewage Hits The Fan) that is to come by looking at what happened to Argentina

In 2001, Argentina plunged from being a very wealthy country with a large middle class to a country where the middle class all but disappeared. It was all due to uncontrolled government spending. Since the situation is so similar to what we have here in the United States today, the lessons learned are especially pertinent.

The first lesson to be learned from the economic collapse in Argentina is that desperate people will do desperate things. People took to the streets protesting what they saw as the robbery of the middle class by the banks and the betrayal of the politicians. Civil unrest became a common occurrence, as people who saw their bank accounts and retirement plans evaporate suddenly had nothing left to lose.

In addition, as the situation dragged on, more and more crime became commonplace. It wasn’t just robberies in bad neighborhoods, but more sophisticated burglaries in previously safe neighborhoods as well. People learned that their homes were being staked out and, when all the members of the family left and the house was vacant for a few hours, they could come home to a house that had been stripped.

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