It looks like western media got convinced about the idea that global economy is in recovery and soon will be in good shape. There are quite many voices declaring that crisis is over and we will be back financially where we used to be before crisis hit us. Some, however, see new financial bubbles developing that could lead to another crisis. Although I am an optimist at heart, I still hold to the position that optimism should have a solid ground for itself. Otherwise, it is simply a naivety which will give you more trouble than benefit.
I see that the crisis that hit the world in 2008 by all means is not over yet, and there is going to be another wave of it in the nearest future. This time it will be caused by national debt burden and social security crash. As you know most governments have been building their national debts throughout these two years. There has been shortage of money in the economy for the last few years, but people wanted to live as they used to. It means governments were not able to cut on their budgets and live according to possibilities and not beyond their possibilities which they have been doing for a long time. Governments should have also cut on social security benefits. They haven’t done that.
So, at the moment, most of the governments borrow money to continue living beyond their possibilities and support their social security systems in the same way. This leads me to a conclusion that national debts and inability to regulate social security systems will cause another wave of crisis, which could end up with a complete collapse of economic system. I hope it will be replaced by a better one after that, although I am not sure about it.
So, if you want to protect your wealth you would better do it now, because it will be too late quite soon. However, absolute economic crash is not the end of the world and you can handle it. I still wanted to warn you about the coming troubles in the future. Good luck to survive and finally prosper after the end of the crisis.