“We are in a world that is dangerously unanchored … We’re seeing true currency wars and everybody is doing it,” said William White, a senior economist for the Organisation for Economic Co-Operation and Development. “Sovereign bond yields haven’t been so low since the black plague,” he told Ambrose Evans-Pritchard, the European economics editor of The Telegraph in London. Evans-Pritchard has been a prescient (and pessimistic) observer of the eurozone.
According to a recent report put out by the McKinsey Global Institute entitled “Debt and (not Much) deleveraging” the total amount of debt on our planet has grown from 142 trillion dollars at the end of 2007 to 199 trillion dollars today. This is the largest mountain of debt in the history of the world, and those numbers mean that we are in substantially worse condition than we were just prior to the last financial crisis.
What we are experiencing right now is the greatest financial bubble of all time.
What comes after that is going to be the greatest financial crash of all time.
199,000,000,000,000 dollars of debt is about to come crashing down, and the pain of this disaster will be felt by every man, woman and child on the entire planet. Do watch the video!