As governments raise taxes to cope with their unending spending habits, people are increasingly being forced to supplement their own income with loans. And according to most financial experts, this debt problem is so big that it will usher in a global economic collapse of epic proportions.
According to the Institute of International Finance’s latest Global Debt Monitor, the amount of debt held in the world rose by the biggest amount in two years during the first quarter of 2018. It grew by $8 trillion to hit a new all-time high of $247 trillion, up from $238 trillion as of December 31, 2017. And that’s up by $30 trillion from the end of 2016.
Global debt is staggering to the point most of it will never be repaid and as governments continue their spending sprees and the debts keep mounting, the future of the economy looks bleak. There is more than enough economic data out there to show there could be an economic collapse and stock market crash in 2018. Bill Gross stated in 2017 that “our highly levered financial system is like a truckload of nitroglycerin on a bumpy road”. One wrong move and the whole thing could blow sky high, wrote the Epic Economist. Once this bubble pops, it will fling the globe into a financial crisis of epic proportions never before seen.
According to Financial Times, it is becoming clear that the global monetary policy is now caught in a debt trap of its own making. Continuing on the current monetary path is ineffective and increasingly dangerous. But any reversal also involves great risks. It stands to reason that the odds of another crisis blowing up will continue to rise. –Ready Nutrition
The Epic Economist also has a video out detailing how all of this came to pass. It’s easy enough to understand, yet most still can’t get past their own preconceived notions and biases to comprehend that this will be the fault of governments and those who continue to look to rulers or masters to solve their problems.
“It is all about taking money from us and transferring it into government pockets. And then, taking money from government pockets, and transferring it into the hands of the elite. It’s a game that’s been going on for generations and its time for the humanity to say that ‘enough is enough’.” -Epic Economist
The future of the global economy doesn’t look promising based on the vast amount of debt and wealth being transferred from people to their masters. We are living in economic slavery and until humanity understands that, the only other option is an economic crisis.
It comes as a bit of a surprise the infamous Keynesian economist Bernanke would express concerns over the government’s inability to decrease spending. But now that he has, will Americans heed the warning and protect themselves against the next financial crisis? –SHTFPlan
There are ways to prepare for a financial crisis, although an ongoing and global crash could complicate things for preppers. But there are still ways to prepare and an open and educated mind is step one. If you still believe the government and global elites have your best interests in mind, you probably also don’t anticipate a global economic crash, and therefore, are not going to prepare. For the rest of us,taking on a “prepper’s mindset” will give you the upper hand in any financial crisis.
“If we have learned one thing studying the history of disasters, it is this: those who are prepared have a better chance at survival than those who are not.” -Tess Pennington, author of The Prepper’s Blueprint