In this report, I look at some of the recent reports in the mainstream media about the fact that the world economy is either in a crisis already or is very near entering one. Last week we saw comments from the former Prime Minister of the U.K. Gordon Brown that the chances of a new financial crisis to rival the 2008 one are high.
I go over what has happened in terms of the growth of debt and credit in the U.S. and world economy as a whole. I look at the timeline of the last crisis and how gold actually performed very well during the Great Financial Crisis of 2008 which actually kicked off in early 2007 and lasted into early 2009.
My conclusion is that very little has been done to avert another big financial crisis and economic collapse and that the underlying causes of all financial crises are always uncontrolled credit and debt growth.
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