JOBS - Redditors Predict Economic Doom Brace For US Collapse: 'Only Time Will Tell How Bad It Will Truly Get' | Benzinga
Reddit users are increasingly predicting an economic collapse in the U.S., with some even preparing for a scenario similar to the Soviet Union’s demise after the Cold War. The growing concern is being fueled by factors such as inflation, debt, and job market instability.
What Happened: A Reddit user, who goes by the name Daniel, has been active on the r/economiccollapse subreddit for four years, told Business Insider that he is bracing for an economic implosion in the U.S.
He has invested all his savings in defense stocks, gold, and cryptocurrency, anticipating a shift to a wartime economy.
“The one thing that our economy is going to be guaranteed is a wartime economy. Only time will tell how bad it will truly get,” Daniel said.
Interest in pessimistic views of the market and the economy is rising, as indicated by a 17% increase in Google searches for “stock market crash” and a 15% surge in searches for “economic crash” over the last quarter. Membership on the r/economiccollapse subreddit has also spiked by 80% since the end of 2021.
Despite the prevailing pessimism, the U.S. economy has managed to avoid a predicted recession over the past two years. The labor market remains robust, with the unemployment rate near historic lows in ...