The Great Depression of 1929 in the United States is used as an example of how quickly an economy can decline. Many regard economic collapse as inevitable due to overpopulation, a demographic crisis with an increasingly aging population that requires social support services, resource shortages, excessive unemployment rate, unsustainable debt levels (the global credit bubble), inadequate economic policies, and peak oil.
Do not trust those who talk about business cycles, who argue that bailout money given to large financial corporations is for revitalizing the economy (they receive our cash, we and our children will pay for their excesses through state deficits and severe adjustment policies); that sustainable economic growth can be based on consumption beyond our means and on credit; that creating or printing more money from thin air will solve economic problems as if by magic, etc.
Believe me: We’re in a bubble right now. And the only thing that looks good is the stock market — but if you raise interest rates even a little bit, that’s going to come crashing down. We are in a big, fat, ugly bubble. And we better be awfully careful, Donald Trump.
Financial markets are driving the world towards another Great Depression with incalculable political consequences. The authorities, particularly in Europe, have lost control of the situation, George Soros.
When private industry makes a mistake, it gets corrected and goes away. As governments make mistakes, it gets bigger, bigger and bigger and they make more, more and more because as they run out of money, they just ask for more and so they get rewarded for making mistakes. In the meantime that is exactly what we are doing by subsidizing companies which are failing, we have a reverse Darwinism, we’ve got survival of the unfittest, the companies and people that have made terrible mistakes are being rewarded and other people are being punished and being taxed, Peter Schiff.
The Economic Collapse is a ticking Time Bomb, a mathematical certainty. Let me explain why:
Global debt “has hit another high, climbing to $247 trillion in the first quarter of 2018. […] The debt-to-gross domestic product (GDP) ratio has exceeded 318 percent […] The unprecedented debt load is one of several investor concerns, in addition to worries about the Federal Reserve’s monetary policy tightening and the impacts of a trade war,” Source: CNBC.
“With big banks falling over like drunks on a Saturday night the papers are full of explanations. The final stage is reached when speculators swoop on the weakest organisations and make a fortune by finishing them off through “short selling” […] It’s a drastic state of affairs when taxpayers have to step in to save the banks. Profits are being privatised and losses are being nationalised,” Is this the collapse of capitalism?, Derry Journal.