Steve Forbes Warns “Big Financial Crisis” Is Coming

This episode of What’s Ahead warns of a brewing storm that will be global in nature and could wreak immense damage, economically and politically.

Numerous nations have amassed immense debt. The binge-borrowing began before the pandemic. Now with inflation rampant, interest rates are rising, making it unlikely that many of these governments will be able to service their obligations. Fueling the unrest are growing shortages of food and fuel.

It’s not just poor countries that are facing ugly financial squeezes but also middle- and higher-income countries.

The European Central Bank (ECB) has been amassing immense amounts of bonds for more than a decade. Japan’s national debt, now more than twice the size proportionately of the U.S.’, is rapidly expanding. The U.S., with a record peacetime debt, has been no paragon of financial virtue.

Positive, straightforward solutions are being ignored. Even on the food front, the U.S. and Europe still haven’t come up with imaginative ways to get needed grain out of Ukraine.