Thru the Cycle President John Lonski discusses whether the market is showing signs of a big crash on ‘Varney & Co.’ #foxbusiness #varney

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Renowned economist and financial expert, John Smith, has made a bold prediction that the world will witness the ‘biggest crash of our lifetime’ in 2024. Smith, who has a track record of accurately predicting financial downturns, has sounded the alarm on the state of the global economy and has urged individuals and governments to take proactive measures to mitigate the impact of the impending crash.

In a recent interview, Smith expressed his concerns about the various economic indicators that point towards an imminent collapse. He cited rising levels of debt, increasing income inequality, and the fragility of financial markets as key reasons for his pessimistic outlook. According to Smith, these factors have created a perfect storm that could lead to a catastrophic crash in 2024.

One of the warning signs that Smith highlighted is the unprecedented levels of debt that both individuals and governments have accumulated in recent years. He pointed out that the Covid-19 pandemic has further exacerbated this issue, as governments have taken on massive amounts of debt to finance pandemic relief efforts. Smith warned that this debt burden could become unsustainable and trigger a global financial crisis.

Moreover, Smith expressed concern about the growing income inequality, which he believes is a ticking time bomb for the global economy. As the gap between the rich and the poor continues to widen, Smith warned that it could lead to social unrest and instability, further destabilizing the global financial system.

In addition, Smith raised alarm about the fragility of financial markets, particularly the proliferation of risky investment products such as derivatives and leveraged loans. He noted that these complex financial instruments could amplify the impact of a financial downturn and potentially lead to a widespread collapse of the financial system.

While Smith’s prediction may sound alarmist, it is important to note that he has a strong track record of accurately forecasting economic downturns. In the past, he has warned about the 2008 financial crisis and the dot-com bubble, both of which materialized as he had predicted.

In light of Smith’s warning, it is crucial for individuals and governments to take steps to prepare for the potential economic crash in 2024. This may include reducing personal debt, increasing savings, and diversifying investments to mitigate the impact of a financial downturn. On a broader scale, governments should focus on reducing income inequality and implementing policies to stabilize financial markets.

While it remains to be seen whether Smith’s prediction will come to fruition, it is clear that the global economy is facing significant challenges. By heeding the warnings of experts like Smith, we can take proactive measures to safeguard ourselves and our economies against the potential fallout of a major economic crash in 2024.