Will the economic collapse and the Next Great Depression happen in the near future?
Even mainstream economists are admitting that economic activity is slowing down. And at this point that fact would be very difficult to deny, because the numbers are very clear. We haven’t faced anything like this since the last economic collapse , and many are deeply concerned about what is coming next. Will it be just another recession, or will it be a major stock market crash and economic collapse than we faced in 2008?
The global economy experienced a “sharp loss of speed” over the course of 2008 and global economic conditions are now “the weakest since the global economic crisis”…
This is definitely the worst condition that the global economy has been in since I started Epic Economist youtube channel, and I am personally very alarmed that we are heading to a major economic collapse. The greatest debt bubble in the entire history of our planet is in the process of bursting, and the consequences are going to be absolutely horrific.
I really like how financial expert Egon von Greyerz recently made this point…
People must understand that the world has never faced risk of this magnitude. We are now in the final seconds of the global economic collapse, the likes of which the world has never seen before. What will happen next will be worse than the fall of the Roman Empire, much worse than the South Sea and Mississippi stock market crash, and will create a disaster that will dwarf the Great Depression of the 1930s. The problem is simple to define and is all based around debts and liabilities. At the beginning of this century, global debt was 80 trillion dollar. When the Great Financial Crisis started in 2006, global debt had gone up by 56% to 125 trillion dollar. Today it is 250 trillion dollar. Essentially, we are looking at the sort of apocalyptic economic collapse that I have been warning about for a long time, and most people have no idea that it is coming.
Nobody is going to ring a bell when the next economic crisis and major stock market crash starts. It is just going to happen, and just like last time, most Americans are going to be blindsided by it.
Script written by Michael Snyder, author of The Economic Collapse Blog – http://www.theeconomiccollapseblog.com
Music: CO.AG Music https://www.youtube.com/channel/UCcavSftXHgxLBWwLDm_bNvA
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