If you want to know what the early stages of an economic collapse look like, just walk around some of the downtown areas of our major cities. Today, nearly all large U.S. cities are either flat broke or they are on the way to being flat broke. Yes, New York City and Washington D.C. (and a few others) are still doing fairly well, but for most U.S. cities economic reality is catching up with them very quickly. Right now, there are a number of major cities that are so broke that they cannot keep the street lights operating.
Down in St. Louis, parents in some areas are carrying golf clubs with them as they walk their kids to school in order to fend off roving packs of wild dogs. In other major U.S. cities, open-air drug markets conduct business without fear. All over the United States, cities that used to be clean and prosperous and full of hope are now being transformed into post-industrial wastelands. We are certainly not in "Mad Max" territory yet, but it doesn't take too much imagination to see where all of this is headed.