According to a report by Fox News Network on the 5th, more and more data indicates that an economic collapse that is more destructive than the Great Depression may be about to come to the United States in 2024.
This forecast is based on a comprehensive analysis of multiple factors such as the US government's fiscal deficit, currency overflow, inflation, and social unrest.
According to the report, the US government has increased public spending and debt in response to the new crown epidemic and recession, resulting in a record fiscal deficit. As of the end of September 2023, the US federal government's fiscal deficit has reached $3.2 trillion, or 14.8% of gross domestic product (GDP). This is the highest percentage since World War II.
At the same time, in order to stimulate the economy, the Federal Reserve continued to ease monetary policy and printed a large number of dollars, resulting in a surge in the money supply. According to the Federal Reserve, as of early October 2023, the USD M2 money supply has reached $23.7 trillion, an increase of almost 50% from the end of 2019. This currency overshoot will inevitably trigger inflation, weakening the purchasing power and international standing of the dollar.
The report also pointed out that the turmoil and division of American society is also an important factor in the economic collapse. Since 2020, there have been frequent racial conflicts, shootings, violent demonstrations and other social problems in the United States, resulting in casualties and property damage. At the same time, American politics has also fallen into a stalemate characterized by bipartisan confrontation, infighting, and the inability to reach a consensus. All these have seriously affected the social stability and economic development of the United States.
In summary, the report believes that the US economy is facing an unprecedented crisis that may erupt in 2024 with more devastating consequences than the Great Depression. This will also have a huge impact and impact on the global economy and financial markets. Therefore, we should be vigilant and take countermeasures to protect our wealth and security.
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