The Looming Economic Collapse: The $25–Trillion Worldwide Debt Crisis
The comments below are an edited and abridged synopsis of an article by Marc Salvo
As governments raise taxes to cope with their spending habits, people are forced to supplement their own income with loans. According to financial experts, the debt problem is so big that it will usher in a global economic collapse of epic proportions.
The world’s debt rose by the biggest amount in 2 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. That’s up by $30 trillion from the end of 2016.
Most global debt will never be repaid, and as governments continue spending and debt keeps mounting, the future looks bleak. Economic data shows a likelihood of an economic collapse/stock market crash. In 2017, Bill Gross said that “our highly levered financial system is like a truckload of nitroglycerin on a bumpy road.” One wrong move and the whole thing will blow. When this bubble pops, there will be a financial crisis of epic proportions.
There are ways to prepare for a financial crisis, although a global crash could complicate things. But having 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 won’t prepare. For the rest of us, taking on a ‘prepper’s mindset’ will give you the upper hand in any financial crisis.