Ignore those US economy collapse predictions. The US economy is not going to collapse.
There have always been and will always be doomsayers who believe the sky is falling. It's far more likely that the sky will stay just where it is yet give us a good bashing of rain or snow.
Let me share these charts with you. The charts depict the prices of three commodities used around the globe. What's useful about looking at commodity prices is that they show both the existing demand and forecasted demand. High demand generates a high price and this means a blue sky.</.p>
You can see from these charts that commodity prices have been falling and the trend is not new. Prices topped in 2011 and 2012 and have been trending down since. This is an indication of the world's slow decline into deflation.
Then why does your newspaper say that the US economy is doing so well and no worthy economist makes US economy collapse predictions? The US economy is doing well but understand that might be the condition of an addict who has had an ample supply of drugs (easy money). Often, the addiction only comes to light when the addict can get a fix.
The 1989 movie "Weekend at Bernie's," depicts two young employees who find their boss (Bernie) murdered when arriving for a party weekend at his Nantucket beach house. The employees are worried they will be fingered as the murderers. With dozens of guests arriving to the big weekend party at Bernie's, the employees cover up Bernie's death. At the party, they prop upright Bernie's limp dead body between them. They mingle amongst the guests holding onto Bernie to hide his death. This movie is a fairly good depiction of the US economy.
For the last seven years, the Federal Reserve have us propped up a very weak economy by holding interest rates at almost zero. When interest rates are almost zero, more people will buy homes because the payments are low, more people will buy stocks on margin, businesses will expand because they can borrow very cheaply and even companies who are not economically worthy can survive on low-cost debt. In other words, the terrible economy of 2008 has been covered up and deferred but not fixed.
Eventually, everyone realizes that Bernie is actually dead, i.e the US economy is comatose. Now that the drug of low interest rates and government cash infusions has been taken away, everyone will see the addict's problem. We have been addicted to easy money and things will not be so good as the drug is removed. We will in fact experience withdrawal.
Other countries have not done so well propping up their economies. While the US has been a beneficiary of lower commodity prices because we are a consumer nation, other countries are producers and have been hurt by low commodity prices.
US Economy Collapse Predictions are Best Assigned to Other Countries
The good news is that the US is not dependent on high commodity prices (we benefit when they fall) and its other countries that are in far worse shape. While the US cannot stay immune to trouble abroad (the world economy is far to interconnected), it has the most diversified and self-sustaining economy of any.
Venezuela is close to insolvency because of the low price of oil. Russia and Saudi Arabia are quickly consuming their foreign reserves in an effort to keep their economies going. However, if low oil prices persist for a few years, these countries also face insolvency.
Do not get crazed by US economy collapse predictions. However, do know that under the surface, the economic situation is already poor in the rest of the world in the US is not an island.
We provide here recommendation on how to invest for deflation.