Forget World War III, economists have already declared 2016 as the Year of the Epocolypse – the economic apocalypse.
“When you see the towering forces that are prevailing against failing global economic architecture and the pit of debt beneath that structure, as laid out here, I think you’ll recognize that the Epocalypse is here, and it is everywhere. The Great Collapse has already begun.” says economist David Haggith.
Compared to what is going on in Brazil right now, according to Bank of America and many other financial institutions, Brazil is currently in an economic collapse much worse than the Great Depression.
Yet this is a worldwide Epocolypse. Other countries that were officially in a recession in 2015 were Canada, Australia, Venezuela, Russia, Greece, and Japan. These are countries that one would think are doing pretty well for themselves economically. That’s right - Japan, the former technology development and manufacturer world leader, has declared an economic recession.
Expert economists from countries around the world all agree that complete global economic collapse is imminent and virtually impossible to recover. And if the economists don’t know how to fix the economy, how will our government?
You don’t need to be an economist to track the GDP and the value of currencies around the world, which has been on a steep decline for most of 2015, a trend that, according to economist David Haggith, “would take a miracle to recover.”
The GDP, or gross domestic product, is what economists use to gauge the health of any countries’ economy by tracking the value of all major products and services over an extended period of time. Crunching this sort of data is difficult and time consuming, (which is why we have expert economists on the job!) yet the results give us the most reliable ideas as the where a countries economy is headed.
Christine Lagarde, the leader of the International Money Fund, said higher interest rates on national debts owed to institutions in the US will increase vulnerability worldwide. It’s long been said that “As goes the US economy, so goes the world;” yet it is equally true to say, “As goes the global economy, so goes the US.” In other words, the US economy is so big and influential that this single economy can move the world, yet the global economy is even bigger and, so, can and will move the US. Recent interactions between China’s small stock market and the huge US stock market show the US is clearly not immune.
many companies from around the world packed up and moved to China after hearing this prediction (and after seeing the dirt cheap labor), as of the start of 2016, China’s economy was the slowest it’s
been in fifteen years. If China begins to backtrack – even with many of the world’s top companies operating there – what can we rely on? Will the world economy in a few years resemble that of Mad Max? Let’s hope not.