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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: mishedlo who wrote (53285)2/9/2006 5:57:48 PM
From: Mike Johnston  Read Replies (1) of 110194
 
It depends on how we define economic collapse. Is it when commerce grinds to a halt ? Massive bank failures ? Massive unemployment ? Replacement of currency ? Or a collapse in the standard of living for average folks ?

If it is the last one, then we already have a collapse:
- stagnant wages
- negative real GDP growth
- rising costs and inflation
- massive debt loads
- cash-out refinancings( burning furniture to heat the house )
- increasing tax burden
- declining productivity
- increasing regulation and government control

IMO the economy will always somehow function, banks will be bailed out, the unemployed will receive benefits. The true measure of a sick economy will be massive decline in the standard of living.
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