A predicted global meltdown passed without event. But there are enough warning signs to propose we are sleepwalking into another disasterThe 1st of October came and went without financial armageddon. Veteran forecaster Martin Armstrong,who accurately predicted the 1987 crash, used the same model to propose that 1 October would be a major turning point for global markets. Some investors even build bets on it. But the passing of the predicted global crash is only good news to a point. Many indicators in global finance are pointing downwards – and some even think the crash has begun.
Let’s assemble the evidence. First, or the unsustainable debt. Since 2007,the pile of debt in the world has grown by $57tn (£37tn). That’s a compound annual growth rate of 5.3%, significantly beating GDP. Debts fill doubled in the so-called emerging markets, and while rising by just over a third in the developed world. Related: Britain is heading for another 2008 crash: here’s why | David Graeber Continue reading...
Source: theguardian.com