The Next Great Depression: Coming Soon?

Looking at the precarious state of the American and world economy, I would suggest that the volatility of the stock market last week is a strong early warning that a major financial crash in on the way.

The massive amounts of personal and government debt (national and worldwide), the shrinking of the middle class, the dismal employment numbers and prospects, the gridlock and lack of sensible leadership in Washington, economic failures all over the globe–all these and more point to a worldwide economic crisis that could resemble the Great Depression of the 1930s.

I don’t pretend to be an expert in economics, but I don’t see how there can be any other conclusion. It could all start unraveling next week, next month, or next year, but my sense is that it’s coming sooner than later.

Unless I was a certified masochist (I’m not) I wouldn’t want my retirement accounts having much, if any, exposure to the stock market these days. It could all come crashing down.

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1 Response to The Next Great Depression: Coming Soon?

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