Great video to understand debt
Before getting interested in cryptocurrencies, I had no background in economy (never had a single class!). In public debates, economists never seemed to agree on what causes what, and to my point of view they looked more like politicians than scientists.
However, the following 30 minutes video seems to really make sense and provides a great explanation of how economy/debt works:
What do you think of this video? Do you know of other great ressources for understanding economy?
Today's economic situation
I find the data on national debt disturbing.
To use the vocabulary in the video, it seems obvious that today's world economic situation is heading toward a new deleveraging phase (explanation starts at 16mn50). Interest rates are at 0 in most western countries, US public debt accumulated 8 more trillion dollars since 2008, and most other western countries also have a huge debt burden and high unemployment rates.
The situation seems catastrophic, worse than in 2008.
But most people I speak with seem to be completely ignorant about debt and economy. I'm not very knowledgeable either, but know I feel like it is the most important thing to understand.
Do you think that we're due for a worldwide economic crisis? If so, what do you think are the best actions to take right know in order to get prepared?