- Government’s inability to continue to pay its bills.
- Massive money printing to pay bills which ultimately results in high (perhaps hyper) inflation and a currency collapse.
Either scenario produces an economic and societal collapse. The shape of such an event is virtually unimaginable. I do not feel competent to describe how conditions would deteriorate and to what level. The following article by Matt Bracken does not pull any punches in sugarcoating what might happen. Let him explain how such an event could start and what it could look like. No American should want this event to unfold, but all should be aware of the potential that lies ahead.
Here is Mr. Bracken’s take (warning, just the read is terrifying):
In response to recent articles in mainstream military journals discussing the use of the U.S. Army to quell insurrections on American soil, I offer an alternate vision of the future. Instead of a small town in the South as the flash point, picture instead a score of U.S. cities in the thrall of riots greater than those experienced in Los Angeles in 1965 (Watts), multiple cities in 1968 (MLK assassination), and Los Angeles again in 1992 (Rodney King). New Yorkers can imagine the 1977 blackout looting or the 1991 Crown Heights disturbance. In fact, the proximate spark of the next round of major riots in America could be any from a long list cribbed from our history.
We have seen them all before, and we shall see them all again as history rhymes along regardless of the century or the generation of humankind nominally in control of events. But the next time we are visited by widespread, large-scale urban riots, a dangerous new escalation may be triggered by a new vulnerability: It’s estimated that the average American home has less than two weeks of food on hand. In poor minority areas, it may be much less. What if a cascading economic crisis, even a temporary one, leads to millions of EBT (electronic benefit transfer) cards flashing nothing but zeroes? Or if the government’s refusal to reimburse them causes supermarket chains to stop accepting them for payment? The government can order the supermarkets to honor the cards, but history’s verdict is clear: If suppliers are paid only with worthless scrip or blinking digits, the food will stop.
STEP ONE: FLASH MOB LOOTING (Continue Reading)