06
Feb
15

Another Economic Crash – Potential?


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A growing yet, somewhat understated concern, is the burgeoning global debt levels since the collapse of global economies of 2007-08; the affects of which is still evident today.

The alarm-bells of warning are slowly growing louder. Increases in the debt to earnings ratios at all levels of many major world economies i.e., retail consumer debt to national debt, are in the opinion of some eminent world economist, beyond acceptable levels, raising a growing concern for another, potential global economic collapse. One exacerbated by the sudden drop in global oil price and the increased international tensions stemming from conflicts in the Middle East and Ukraine.

Recent Business reports from respected News sources intent on raising the alarm to this disastrous potential:

a) From the Canadian Broadcast Corp. (CBC) business reporter Amanda Lange: Global debt is growing — and Canada’s household debt is worse than most, McKinsey says The myth that the world is paying down debt isn’t true, Amanda Lang says. That’s bad news for Canadians

Link full report: http://www.cbc.ca/news/business/global-debt-is-growing-and-canada-s-household-debt-is-worse-than-most-mckinsey-says-1.2946750

b) From The Guardian: Another economic crash is coming. How did this happen? Renegade Economist

c) Thom Hartman Program  The Banksters are now Setting up The Crash of 2016

It behoves every individual to re-evaluate their personal financial situation in light of this very strong potential for a second economic collapse to occur. The recent lowering of the lending prime-rate by the Bank of Canada and projection of a further reduction in the Spring, 2015 may seem to counter the projections fostered by these referenced reports. However, as the old motto goes: `better to be safe than sorry’ would be most appropriate given the circumstances.

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