The biggest balloon in the world is deflating.
This balloon had been inflated with a quadrillion (1015) dollars,
which is to say: This balloon was filled not with air but with
debt from around the globe.What will happen as this global debt winds down? In two words: Deflationary
Depression — the likes of which could be unprecedented
in history.
This
article, Quadrillion Dollar Debt: ‘Day of Reckoning’ Looms,was syndicated by Elliott Wave International. EWI
is the world’s largest market forecasting firm. Its staff
of full-time analysts lead by Chartered Market Technician Robert
Prechter provides 24-hour-a-day market analysis to institutional
and private investors around the world.
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