“Something Biblical Is Approaching” – Here Are The Scenarios Of The Collapse
2019 has started more calmly after a very volatile year-end in the markets. Focus has been on the trade deal between China and the US and the words of the central bankers, most notably those of Jay Powell. However, this is all just a distraction, a side-show. The market volatility was only the first sign of an approaching global economic crisis, as we warned in December 2017.
As the recent PMI figures across the globe show, a global downturn has started and the world is utterly unprepared for it. The global imbalances that have been growing for years cannot lead to anything else than a global crisis . However, there are different paths the crisis could take.
Fortunately, even depressions and systemic crises have the tendency to bottom-out and recover. This is driven by resiliency. Even when faced by cataclysmic economic shock, businesses and people try to move forward, and rebuild their lives. Societies just do not spiral into anarchy and mayhem, even if the system should break down.
Still, every company, household and government should start to make contingency plans. Something ‘biblical’ is approaching.