The Next Global Depression Is Coming and Optimism Won’t Slow It Down
The world is confused and frightened.
The outlook for the next year is at best uncertain with the war in Russia things are getting very tense.
Food shortages are rife, home buying costs are escalating at an alarming rate, We’re headed into a global depression–a period of economic misery that few living people have experienced.
America is likely to become the biggest casualty.
Let’s start with the word depression. There is no commonly accepted definition of the term. That’s not surprising, given how rarely we experience catastrophes of this magnitude. But there are three factors that separate a true economic depression from a mere recession. First, the impact is global. Second, it cuts deeper into livelihoods than any recession we’ve faced in our lifetimes. Third, its bad effects will linger longer.
What could world leaders do to shorten this global depression? They could resist the urge to tell their people that brighter days are just around the corner. People need leaders to take responsibility for tough decisions.
Unfortunately, that’s not the path we’re on.
Ok USA housing market is about to crash like HARD