Global Debt Crisis: Shocking Levels of Debt in Some Countries Revealed
American investor Jim Rogers said that a new crisis awaits the world economy, which will be worse than the events of 2008, when the financial crisis erupted in the United States against the backdrop of a collapse in the mortgage market.
The expert added in an interview with the Novosti agency: “This time the crisis will be worse than in 2008, because the debt is much higher.”
And the American investor pointed out that in the past, problems in the economy arose because of debt, which has now grown “in a very, very big way. And this happened not only in the USA, but everywhere. Even in China. has debts, like Japan. My God, I can’t believe how much debt many countries have accumulated.”
The expert stressed that the US authorities intend to blame other countries for another recession. “Officials in Washington will never say, ‘Oh, we made a mistake, we’re resigning,'” he said. “No, they’ll say, ‘These foreigners, they take all the blame’.”
Rogers stressed that large depositors in US banks should exercise caution in the current situation and check the safety and soundness of the banks they deal with.
According to him, “China itself will become the next superpower and take the place of the most important country in the 21st century.”
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