I heard the economy is collapsing and the stock market will crash - SOON!

If you listen to Gerald Celente, Mike Malone, Peter Schiff, Alex Jones, Jim Rogers, Andrew Maguire, Jim Rickards, Ron Paul, Marc Faber, Dave at X22report, jsnip4 on Youtube, Clif High, Wolf Richter, Steve St. Angelo, Jeff Berwick, Jim Willie, Paul Craig Roberts, Chris Martenson, Martin Armstrong, Steve Quayle, Christopher Greene, Andy Hoffman, Rob Kirby, Michael Pinto, Max Keiser, Lynette Zang, Gregory Mannarino, David Quintieri, John Rubino, Bill Holter, Nomi Prins, Harry Markopolos, Bix Weir, Bo Polny and a few others, you might start to worry about what's about to happen.

If I had to summarize it in one sentence, I'd say ...

A tsunami of debt is going to come crashing down and will sweep over the entire world.

If my conclusion is correct, I'd say that we are fast approaching the biggest stock market crash, and the greatest transfer of wealth in world history. Millions of everyday people will lose almost everything while others in the know will acquire great wealth.

It seems that decades of global economic growth has come to an end, and we're now about to take the ride down over the demographic cliff. In a finite world, continued exponential growth never goes on forever.

By the way, do you remember the 2008 financial crisis? What do you think they did to fix it? The answer is, they didn't fix it. They papered over it. Like putting wallpaper over a wall in a wooden house eaten-out by termites. But the termites continued to feast. And now the house is nearing collapse from its own weight.

That's the state of the economy, right now.

The economy has been propped up with debt - more debt... and even more dept on top of that.

So when is this so-called collapse going to happen? It already is happening - like watching a train wreck in slow motion.

Haven't you heard of all of the major stores closing and the massive layoffs? And the predictions that many US malls will have to shutter up, or be re-purposed for offices, warehouses, self-storage units, etc.? And that pension plans are being cut? And that real unemployment is probably somewhere between 15 and 25 percent?

The "official" unemployment rate is being reported as 4.7%. WHO THE "F" DO THEY THINK THEY'RE KIDDING? Don't give me that bullshit!

We have record levels of US Debt, personal debt, credit card debt, student loan debt, auto loan debt, mortgage debt - and there's not enough money in the world to ever pay it all off!

Home ownership in the US is at the lowest point since the 1960s. Wages for most have remained flat for over 10 years. Inflation is eroding the purchasing power of the US dollar. The gap, between the rich and not-so-rich is continuing to widen. Credit cards are maxed out, savings have been destroyed with near-zero interest and sub-prime auto loans have been given for periods of up to 7 years. Seven years for an auto loan???!!!

The loan business has gotten so bad that their lending standards have gone out the window. If you can get into a car dealership, and prove that you have a pulse - that's about the only bar you need to clear to get approved. Do you have a credit score above 1? Good enough. Sign on the dotted line and you're good to go!

See the problem here? The whole goddamn financial system has evolved into a Mega-Bernie-Madoff Ponzi scheme. They need to keep money coming into the system, and increasing debt, to keep it all going.

The only problem is, it can't last forever, and Bernie ends up behind bars. In the case of a global financial crisis, when it all comes crashing down, no matter who goes to jail or who walks away with absconded wealth, a lot of the average Joes and Janes are going to be financially devastated.

So what should you do?

The first step in preparing for what's coming is knowing what's possibly coming.

Should you buy some gold and silver? Should you have emergency food supplies? Should you prepare, just in case there is a disruption to food and product deliveries. Should you have plans in place, should there suddenly be bank closings or restrictions to access your bank funds?

From listening to the gaggle of gurus, and having looked at many charts and stats, reports and articles, and having a little understanding of finance and basic math, there are certainly troubling trends. Like watching cracks and leaks forming in a concrete dam, I might want to step out of the way - just in case it gives way.