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Centuries have passed since then, yet there is, as the proverb tells us, nothing new under the sun. These cautionary financial tales are echoed in our modern history.
In fact, throughout mankind’s history, financial disasters have differed from one another in name only, with only their location or timing to set them apart.
On Wednesday, October 23rd, 1929, the worst economic crisis in early American history broke out. The stock market, which had been on a steady rise for the last 5 years, suddenly collapsed without warning.
Thousands of banks went bankrupt. People were driven into poverty and unemployment, losing all they had in the process.
This Great Depression would continue until 1933. But it would hardly be the last financial crisis the world would endure.
These brutal financial disasters all have one clear thing in common: they are the product of a financial bubble created by the unrealistic expectations of the people within it.
It’s barely a decade beyond 2008 (Financial Crisis) when America struggled with the housing bubble bursting in such a spectacular fashion it sent even well-established financial institutions scrambling for bail-outs. History repeated itself once again, as this event occurred primarily because of misplaced speculation – as it had in the Great Depression, and Rome before it.
Today global debt has exceeded $ 260 trillion.
Total US Consumer debt, including auto loans, mortgages, credit cards, student loans, and payday loans, has reached into the staggering trillions of dollars.
Every day, we hear news about bankruptcies in the manufacturing sector, farming, and transportation industries.
The stock market has even been steadily rising, bringing with it eerie correlations to the “calm before the storm” that preceded the Great Depression.
There are hundreds of other signs pointing to a great recession that desperately needs official acknowledgment, and they are warning us that the clock is ticking again – loudly.
Despite the overwhelming indicators of an upcoming financial crisis that would be the worst in history, America continues to have increased confidence in itself and just when we thought it was going to last forever…
the next economic collapse will be the worst ever…
To learn the truth and be ready for the approaching financial apocalypse, keep watching Financial Argument…
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Narrated By: ROSS HUGUET
Written By: FINANCIAL ARGUMENT
Music By: DARIO TARTAGNI
Writing Assistant: DELANY MARTINEZ
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DISCLAIMER: Material presented on this video should be considered for background information only and should not be construed as investment or financial advice.
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