America Is About To Get Blasted By One Financial Crisis

Economic emergencies are some of the scariest to manage.

They can lead to all kinds of terrible decisions for an individual as well as a society.

And America is about to get blasted by one financial crisis.

The financial crisis of 2007-08 had a devastating effect on the world economy.

Bad economic and monetary policy came to a head when the mortgage crisis exploded.

The government secured home loans to individuals with subprime credit, including people with no income and no job, on the assumption that people would never default on their mortgage.

But that’s exactly what happened.

People weren’t able to keep up with payments, particularly those who had adjustable-rate mortgages.

Balloon payments on mortgages caused many people to walk away from their homes, which devalued the homes of people who hadn’t defaulted and also stuck them with an enormous bank bailout bill.

Shills in big media like MSNBC’s Rachel Maddow scared the public into supporting the bailouts, threatening that there would no longer be an economy without them.

The bailouts, coupled with near-zero interest rates and increased government spending, put a band-aid on a broken arm.

That’s why Barack Obama saw the slowest economic recovery in history.

And while Donald Trump’s tax cuts and deregulations have breathed life back into the economy, interest rates remain artificially low and government spending has not been reined in.

These issues have created the conditions for a collapse that will be even worse than 2007-08.

Had Obama let the economy heal on its own, it would’ve rebounded in 18 months or so.

Instead, he allowed it to rot to the point where the country will be hit with a recession combined with high inflation.

Real wages have grown under Trump, but inflation has grown at a slightly higher rate.

Inflation due to decades of big-government spending is why wages haven’t kept pace with cost of living increases.

Either the government must make the decision to curb spending or the decision will be made for them when the government eventually defaults.

Neither of those outcomes seems likely in the near future, so you have to be prepared for the next recession.

Perhaps the most important thing is to eliminate debt.

The levels of public and private debt have reached concerning totals.

Debt is the greatest roadblock to wealth building and economic freedom.

Do your best to eliminate debt and squirrel away savings because the recession can affect industries in unexpected ways.

It’s also a good idea to invest a small portion of your portfolio in precious metals, which have historically been a good hedge against inflation.

Several economists and financial investors predicted the last major crash, but people didn’t listen.

Some of those same people are trying to brace people for this impending crash.

There’s no reason to get caught off-guard.

Protect yourself against the damage that’s coming because economic hardship can have all kinds of devastating ripple effects.