Debt Levels Are Skyrocketing To Extremely Dangerous Levels – How Long
Michael T. Snyder | Jul 25, 2013 05:24AM ET
Never before has the world faced such a serious debt crisis. Yes, in the past there have certainly been nations that have gotten into trouble with debt, but we have never had a situation where virtually all of the major powers around the globe were all drowning in debt at the same time. And what makes this crisis even more unprecedented is that everyone on the planet is using fiat currency that is backed up by nothing. It is all just a bunch of paper and data points that people have faith in. Right now, confidence in this system is being shaken as debt levels skyrocket to extremely dangerous levels. Many are openly wondering how much longer this can possibly go on.
Just consider what is going on over in Europe right now. Even the countries that have supposedly "tried austerity" continue to rack up debt at a mind blowing pace. New numbers that have just been released show that government debt to GDP ratios for some of the most financially troubled nations in Europe a long way off ".
Unfortunately, the reality of the matter is that we are already living in the "economic recovery".
This is about as good as it is going to get.
The truth is that the real storm has not even hit yet. When the debt bubble finally bursts, we are going to see economic chaos in this country unlike anything that we have ever experienced before.
I hope that you are getting ready.
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