People get angry when they’re newly poor. From Egon von Greyerz at goldswitzerland.com:
The world economy and especially the political and economic situation today consists of a potpourri of lethal ingredients which will have dire consequences.
Let’s look at what this deadly potion consists of:
- Debts at levels that can never be repaid – sovereign, corporate & private
- Epic global bubbles in stocks, bonds & property – all about to collapse
- Major geopolitical conflicts with no desire for peace – major wars likely
- Energy imbalances and shortages, most self-inflicted
- Food shortages leading to major famine and civil unrest
- Inflation, leading to hyperinflation & global poverty
- Political and economic corruption in US, Europe and most countries
- No country will afford social security, medical or pension payments
So what are governments around the world doing to solve these problems?
Nothing of course.
