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, “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.