Which country is that then?

The world as we know it has irrevocably changed and there is no turning back . Many believe that this is a conspiracy played out to change the balance of power in the world. I am not completely convinced as yet.

In the next year unemployment in the USA and Europe will hit close to 20 percent and there will be tremendous social unrest. All of us must be prepared for massive changes in our lives .

The only countries that will survive this crash are ones that have enough food and water to provide for their people.
Many countries have economic systems that are pure illusion built on invisible money and false confidence. This is unravelling at lighning speed now and countries are just on the border of collapse.

Anything is possible. I heard of people in the U.S. who think the same way, there these people are called survivalists. I head about one here from a friend. According to my friend this guy has a small arsenal of weapons in his house along with about 10 thousand rounds of ammo.

Should expats start heading out of B.A. now and grab vacant land on the pampas? If what you say is true the money they have been living on(mainly from back home) could be worthless. Should expats there start arming themselves now?

No, people should not arm themsleves, that is ridiculous. People should open their hearts and promote peace and love in these times.

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http://www.livinginpatagonia.com

It would be an idea to buy some arable land. And be able to defend it. Many Russians survived during the '90s because they had a small plot of land and could grow some veggies (potatoes and onions). Dmitry Orlov has some good advice for Americans here (note that he has since come out with a book on the subject). Certainly the possibility of American collapse seems to be becoming increasingly plausible by the day. Just look at an FT article today:

For the sake of argument, let's assume the plutocrats and their paid political whores manage to muddle through this crisis. The stresses, strains, and contradictions of the current global economic system will remain in place and sooner or later (sooner rather than later), there will be an utter and complete collapse of the US- and European-centred global financial and economic system. What's happening now is a portent of worse things to come.

Postscript: Here is a later piece by Orlov, discussing his "five stages of collapse":

My guess would be we're presently somewhere early in Stage 2.

Pal, you need some toughening up. You better run out and get a couple of assault rifles while you can.

Oh Stanley, surely you jest! It's all about the love amigo!

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http://www.livinginpatagonia.com

I would be terrified of consequences of the decline.
But to be honest, I'm still scared witless by SARS, mad cow disease, Bird Flu, plagues of killer bees (personal favourite), international terrorism, Al Qaeda, pollution, cancer, global warming, nuclear war, UV rays, mercury levels in food, the rise of the NWO, shape-shifting reptillean overlords, shadowy government conspiracies and a host of assorted threats to my health, liberty, security, quality of life and purchasing power.

Every year, without fail, we face "the gravest threat humanity has ever encountered" and things will "surely never be the same again". Doesn't the hyperbole get a bit tiring after a while?

In recent years millions have bounced back from floods, earthquakes, tsunamis, wars, total economic collapse etc, but this financial correction is going to spell the end of the world as we know it?

There will be some changes, yes.
But the unrelenting drama of it all...

JP, you forgot Y2K!

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http://www.livinginpatagonia.com

I think Stage 3 will begin in 2009. I think all the drama is to wake people up. Maybe some people will realize that material possessions are as important as family/friends. There could a regress back to the "good ole' days like the 50s in terms of family. Who knows? Yet, JP..you are right in that life will go on...
Just in case you are thinking of living off grid or need survival help...here is a good book.

The Self-sufficient Life and how to live it
The complete back to basics guide by John seymour.....out of print bought used of Amazon.
ISBN: 13 978-0-7894-9332-3
or ISBN 10 0-7894-9332-2