The September 22, 2018, article entitled “Next Crash will be Worse than the Great Depression: experts” is a must read.   The article contains predictions from Wall Streeter Peter Schiff who was unsuccessful in his bid to become a US Senator in 2010.  Even though he was more than a year early, Mr. Schiff correctly predicted the 2008 housing crash.  On December 31, 2006, in a telecast debate on Fox News, Schiff forecast that “what’s going to happen in 2007 is that real estate prices,” which had peaked in December 2005,[20] “are going to come crashing back down to Earth.”  Below are some of the 2008-2018 economic statistics comparisons from the article which can be read in a couple of minutes:

  • US household debt of $13.3 trillion now exceeds the 2008 peak.
  • Mortgage debt of $9 trillion-plus is near its 2008 level.
  • Student loans outstanding have more than doubled from $611 billion to $1.5 trillion.
  • $1.25 trillion of auto loans have exceeded the 2008 total.
  • Credit card balances are back to the same level as just before the Great Recession.Global debt has gone from $177 trillion to $247 trillion.
  • Global debt is now more than 2.5 times the size of the global economy.    

BullsNBears was created since it shares the same vision for the future as Mr. Schiff.  I highly recommend that you watch the “Profit from the Crash” video below. It covers the 90/10 Crash Protection Strategy, which is the only fail-safe solution that one can use to protect their assets from crashes, recessions and depressions.  More information about crashes and the 90/10 Crash Protection strategy are available at BullsNBears.com.