The house of cards (US and world economy) is so fragile that it will not take much
for it to crash. Only a foolish man will not see this and be prepared.
for it to crash. Only a foolish man will not see this and be prepared.
the global economy. IMF: Clouds over the global economy are 'darker by the day'
https://www.businessinsider.com/imf-clouds-over-the-global-economy-are-darker-by-the-day-2018-6
Managing Director Christine Lagarde warned that “large challenges loom
for the global economy to prevent a second Great Depression.”
October 2018 Global Financial Stability Report October 2018:
A Decade after the Global Financial Crisis: Are We Safer?
https://www.imf.org/en/Publications...lobal-Financial-Stability-Report-October-2018
One of the main subjects covered in the report is the massive global debt.
Remember the 2008 global financial crisis? Nations got out of that crisis by borrowing
and printing a ton of money. That got the world out of trouble temporarily. However,
10 years on from that recession, we still haven’t paid off any of the money we borrowed in 2008.
In fact, the world is even deeper in debt than it was 10 years ago in the depths of the recession.
If another recession hits, how could we stop it from spiraling completely out of control?
Now, global debt is at 250 percent of the global economy. It would take
everything the world could produce for 2½ years to pay off all of those debts.
The imf report points out that debt is a critical issue at every level of the economy. It’s not
just federal government debt; it’s state government debt, local government debt, household
debt, business debt, pension debt and more. Just about every level of the global order has
borrowed itself into oblivion.