1) The Fed will continue to (drastically) increase the money supply, triggering hyperinflation.
2) Imports will be greatly curtailed, as few are willing to accept payment in a teetering currency which loses value daily.
3) The people will rush to purchase hard assets before the dollar is rendered completely worthless, first emptying/closing the banks, and then the stores.
4) Without access to banks, most businesses will be unable to make payroll and be forced to close (including food distributors and trucking companies).
5) Food distribution will break down. The people will seek food from local sources, but will find that very few such sources still exist today.
This will lead to a massive humanitarian disaster far worse than the Great Depression:
In the 30's, there were family farms everywhere (many of which were near self-sufficiency). Today, the few farms that do exist are extremely dependent on technology and supplies from outside sources. If a critical part breaks that can no longer be replaced (see below), or fuel and/or grain supplies are disrupted, the farm shuts down.
30's technology was relatively simple. Most machines were composed of basic parts of limited number (the great majority of which were manufactured in the US). Today's machines are very complex and are composed of a huge number of parts from all over the world. Thus, the failure of one part manufacturer (or the cutoff of their imports) can easily trigger the failure of all who depend on that part.
The 30's US population was around 125 million. Today, it is 300 million. So even if we all knew how to live off the land, it is questionable as to whether the land could sustain so many without the super-efficiency of today's modern/highly-technological farms.
We used to have a strong manufacturing base (and thus were not dependent on imports for our very survival). Today, we make virtually nothing (and have largely forgotten how to do so). Hence, it will be extremely difficult to "boot-strap" our way back to a technological society.
Americans used to possess incredible know-how:
They knew how to build and repair things.
They knew how to farm.
They knew how to hunt and dress game.
They knew how to preserve food.
How many of us posses such skills today ?
Americans used to be a generally-moral people. Few resorted to violence or theft to get food. How will today's Americans (many of whom feel "entitled" to everything) will respond when hungry ?
My advice ?: GET YOUR LOVED ONES OUT OF HERE WHILE YOU STILL CAN !
To the stay and fight types: Philosophy and patriotism are fine, but they won't feed your family.
And besides, this ain't gonna be no fight for liberty (as many fantasize), but an ugly/brutal fight for survival.
The feds/military will quickly be rendered impotent
(being massively outnumbered by the mobs, and their access to fuel greatly limited), and Obomni will be demoted to the Mayor of DC (or his hidy-hole).
See Smudge Pot's post below for a similar take.
Want DP delivered to your inbox daily? Subscribe here: