Increasingly often, people ask my opinion on what is likely to happen financially to the world we live in today.
Though I am no “crystal ball” reader I can assure you that the dangers are more numerous and larger than ever before in my lifetime and quite likely, I strongly believe the peak of prosperity is behind us. This is no doom-based scenario. This is the reality we live in today.
Though in the past century, protection could be obtained by keeping your net worth in cash or government bonds. Now, the surplus capacities are so great that most currencies and bonds are likely to continue losing their purchasing power or even their value altogether given the recent flirting of the US government with default.
Mortgages and other forms of debts are over tenfold greater now than ever before 1970, which can cause manifold increases in bankruptcy auctions.
Read More:
How Do You Keep Creating “Wealth” in Today’s Economy?
Thank you,
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