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Financial ECONOMIC DEVASTATION ON A SCALE THAT AMERICA HAS NEVER Experienced BEFORE. For a very long time we have been warned that a U.S. economic collapse was inevitably coming, and now it is here. Fear of COVID-19 and unprecedented civil unrest in our major cities have combined to plunge us into a historic economic downturn, and nobody is exactly sure what is going to happen next. On Thursday, we learned that U.S. GDP was down 32.9 percent on an annualized basis last quarter. That officially makes last quarter the worst quarter in all of U.S. history, and many people believe that this new economic depression is just getting started. More (theeconomiccollapseblog.com/ economic collapse blog by Michael Snyder.