I live in Iran, a country which has always been under sanctions since 1979. After the US sanctions on Iranian oil, everything got worse and the price of everything increased four times in just three months. These days I hear that the economic collapse will happen. I want to know what does it mean and what consequences can it have for Iran, its economy and society(wikipedia talks about Great Depression as an example but I want an example, close to Iran's situation, if there is such example).
It's good to know that a worker earns 40 dollars per month(we can buy only 11kg of meat with this money [$3.5 per kg]).
It seems that the inflation continues and with more sanctions the economy will get even worse.
Please answer with simple words, I don't know a lot about economics and give examples if you know similar cases in other countries(what were the consequences?)
I should add that the government publishes wrong news about the rate of inflation, the value of rial etc.So the governmental stats are totally unreliable.