Recession/Depression
It has been said a recession is when your neighbor is unemployed, whereas a Depression is when you are unemployed!
I began purchasing silver, food, and ammo about two years ago. When I began buying silver, I could purchase a 10oz bar for $60 then go down to Wally-Mart and get 2 or 3 boxes of White Box 9mm, all for a $100 bill.
That same silver today runs me $160 and the ammo is about $15=$16 per box...I expect Stagflation. Where salaries remain the same, but goods and service's will shoot through the roof.
Now, oil production countries are not going to continue to sit around and watch the buying power of the dollar continue to drop. They will be converting their "cash" into hard assets...gold, silver, iron, industries, etc.
I had mentioned a year or so ago for people to start getting ready...kinda got flamed on that one, but time will tell.
As an aside, I work in the LA Harbor. I see what ships are coming in with goods, and which ships are sailing back to China empty...this is the most scary part of all...we have 1,000's of cargo containers sitting around here that are just rusting away. It seems it is cheaper to build them in china, ship there here full of goods, and leave them, than to ship back the empty containers...I do not expect any turnaround in my future. I see the socialist trying to get more money out of my pocket and give me less and less in goods and services for my tax dollars.
Our Hospitals here in CA. are going broke. Our schools are lacking books, our jails are over crowed, our fire, police, emergency services are swamped.
No, gentlemen we are going the way of Rome. For a glimpse into the future, just Google "French Revolution + Inflation" or See what happened to Argentina in 2000. Pretty scary stuff.
Now imagine what the "illegals" who have been working in the construction industry are going to do when there are no JOBS. Are they going to go back to their countries of origin...doubtful, as one told me IT IS BETTER TO BE POOR IN AMERICA THAN IN MEXICO and he had no intention of ever going back.