Economic collapse

An economic collapse occurs when a country's economy rapidly and drastically deteriorates, leading to widespread financial hardship. This can result from excessive debt, declining production, high unemployment, falling asset values, or loss of confidence among consumers and investors. During a collapse, businesses close, jobs are lost, and the government may struggle to provide basic services. It often causes a sharp drop in living standards and can take years to recover from. Essentially, it's a severe disruption where the normal flow of money, goods, and services breaks down, destabilizing the economy.