The Next Financial Crisis: A Global Debt Bomb is Being Primed to Go Off
In fact, central bankers and governments around the world are trying to stop the economic disaster that has resulted from the blockades caused by the Coronavirus outbreak, which to date has resulted in one of the most prolific debt expansions in this world. have been seen.
Several countries have previously been seen engaging in such money expansions in the past, especially when countries are spinning down the drain, on the brink of economic ruin, however, never before has everyone been observed participating in a party. The massive fiat money printing around the world in such a voracious way.
Without a doubt, while this may be the right course of action to help stop the spread of COVID-19, it will have dire consequences along the way in the form of wealth destruction on a monstrous scale, for those who do not prepare accordingly and start protecting yourself from the consequences that lie ahead.
It is clear that the day for this to occur is unknown as it will take some time for this historic expansion of fiat money to work through the system as spending worldwide has currently plummeted, as people they cannot participate in daily activities of normal life and due to the fact that many people have lost significant income.
However, it should not be overlooked that this will eventually change and life will return to normal, even if it is a “new normal,” meaning that spending will resume, life will continue, and sadly, the debt that accumulated so many countries around the world will remain.
Likewise, we must be realistic and in this way, the sad reality is that we are months away from the end of this crisis, at least, if not even more, since most medical experts now agree that it is almost certain that we will be a second wave in the fall of this year. This means that countries will be forced to participate in more quantitative easing, more money printing, and more debt accumulation.
It should be noted that the most indebted country is Japan, with a debt of approximately $ 9,814,408,995,324 USD, however, they are far from being alone, and the following additional countries suffer the worst debt with GDP levels. As such, a debt bomb of epic proportions is being created and will only become more explosive as time goes by.
Source: Nathan McDonald | Medium