Prepare for the coming crash. (It could already happen this month.)
– Betting on Crazylegs in the Final Race:
Since the early 2000s, I’ve been describing a coming economic depression that will dwarf the one that began in 1929. But this is by no means guesswork or crystal ball gazing. Whenever a country (or countries) creates debt that is beyond the level that they can ever repay, an economic collapse is a near-certainty. Today, many jurisdictions, particularly, the US, EU, UK, Canada, etc. have created debt that is far beyond anything the world has ever seen. This assures us that the corresponding collapse will be of epic proportions.
Of course, I’m frequently asked, “When will it happen?” This is all but impossible to predict, but to be perfectly honest, back around 2006, I was guessing, “probably by 2012.” Although I predicted the minor crash of 2008, I felt that the bigger jolt that’s still coming would have been on our doorstep by now. Again, it’s not all that hard to predict the events if you do your homework, but predicting the timing is another matter.
However, I’ve continued to repeat my general principle that when an economic unraveling of major proportions is coming, significant events increase in frequency and severity. Continue reading »
Tags: Collapse, Economy, Government, Stock Market, Wall Street