Debt bomb: Are we on the brink of another global financial crisis?

This week marks a decade since the collapse of the US investment bank Lehman Brothers triggered the worst global financial crisis since the Great Depression.
What became known as the Global Financial Crisis saw banks and even entire countries collapse on the verge of insolvency.
While much of the world fell into a prolonged recession, Australia's economy narrowly avoided that fate, but 10 years later, many individual Australians continue to pay the price.
Now, there are new warnings from financial experts that the global economy could be even more vulnerable to a new crisis.

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Video credits to ABC News (Australia) YouTube channel

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Debt bomb: Are we on the brink of another global financial crisis?

Comments 30

  1. Having Low interest rates for so long takes a key tool away from banks…. should have been a short term tool. They’ll all say it in hindsight.

  2. The EU keep their debt a secret …. Ireland has more debt per head than Italy or Greece. Guess who’ll be ordered to put up a border when brexit comes in.

  3. YES – IT'S THE "DEBT BOMB" – READY TO EXPLODE IN 2020 ! Australia is a small nation, economically speaking. The REAL debt problem is about to crush MAJOR economies – especially the USA. American consumer spending drives the US economy, which is the world's largest and it affects many other nations. Americans are now carrying $13 TRILLION$ in personal debt (mortgages, car loans, credit cards, signature loans, student loans, & lines of credit). They are "tapped out" – their credit limits have been reached, and most have less than $1,000 cash in the bank. WHEN US consumers stop spending, their economy collapses. This is now happening in the "Retail Apocalypse" – with over 7,000 stores closing in 2019 and more expected in 2020. ADD TO THIS the staggering $24 TRILLION$ in National Debt, $4 TRILLION$ in State & Local government debt, and $8 TRILLION$ in corporate debt – and it is clear THE USA IS BANKRUPT, keeping itself afloat by issuing more & more "Monopoly money" !

  4. Any serious impact on India during this upcoming recession ? Or India again will face it easily and overcome like 2008 crisis.

  5. The next big recession is coming in 2020-2021! Maybe even at the end of 2019! But its almost here, get ready for it. Its going to be bad. 🙁

  6. scammy bankers! stop doing fractional banking, stop currency that isn't backed by gold! We work our butts off while you pull money out of thin air everyone couldn't withdraw what they are owed if they wanted to! scam artists!!!

  7. Thank you to economy stimulus from China, Australia did not have recession last decade but I don't think it will happen this time around

  8. All developed nations have abandoned free market economics. We have all given our trust to Central Banks. The FED for example is NOT a government agency yet they have the power to try to steer the economy. That hasn't worked. But our debts are so friggin high as to guarantee a bigger bust. One that will happen when the center of debt gravity will become too unwieldy for the FED to balance. And the forces which might tip it beyond control are also growing in power. Invest in ammo.

  9. 10 years of savings just vanished? No it didn’t. It got transferred to the Uber wealthy. The next transfer of wealth will be even bigger so please protect yourself.

  10. It's going to happen again only this time it will be worse due to the debt bubble being even larger. Protect yourselves while you can.

  11. Yes our world is on the brimk. Economic collapse is coming and this time we won t be able to handle it.

  12. I'm pissed about the whole thing, but the most agitating part of the video is the guy throwing financial documents into the recycling bin without shredding them first.

  13. Buy top 20 crypto. It is a new kind of asset class. Please get yourself introduced or it will be too late for you in 2020.

  14. We are about to see a rerun of 2008 , but much worse. It doesn't take an econ degree to see that. Quantitative easing into eternity is not a plan, it is the road to ruin

  15. I LAUGHED SO HARD when they said in this video that banks have learned their lessons because of the downfall, hahahaha, wake up!! They run the markets up artificially, then cry wolf, economy will collapse, GET TRILLIONS FROM THE MINT, then do it all over again, 1980's in US they bankrupted the savings and loans, 2008 housing, on and on, they are a bunch of sophisticated criminals of the highest order protected by bribed politicians, that's why they don't want to talk about it EVER!! Get rid of the banks altogether, use precious metals and bitcoin without regulation.

  16. Your ideas are very convincing regarding past events and statistics but they can't be used to predict the near future. There are too many things that will affect our future that didn't exist before now. For instance: The Democrat/liberals have spent the last two years looking for an excuse to impeach President Trump. Has that ever happened before? We are in the middle of a Global Currency Reset (GCR) where 209 nations are going to a gold (or equal value) standard. The Chinese are dumping US Bonds which will bankrupt the Federal Reserve Bank. Last April the IRS was ordered to shut down. An official announcement will happen 1 August, along with the introduction of the new US Treasury Note. The US Treasury will absorb the Fed. Next month (June) there will be a DOW crash which will recover and then another crash before July. A disaster of some sort (Natural or man-made) will happen which will result in a Stock Market crash worse than the 1929 crash. Sometime during all of this Martial Law will be declared. There are already close to 100,000 deep state arrests that have been started. Most of them are child traffickers. 1 January, 2020 marks the beginning of the Value Added Tax (VAT) which will replace the Income Tax (and maybe a couple of other taxes). During all of these events, Conservatives will succeed at every task. Liberals will eventually resort to violence when they're convinced that they can't win and their communist utopia will never happen in America. So our future is going to be reshaped by events that are unprecedented. Without a doubt, Trump will be reelected for another four years. Liberals will be totally discredited by the revelations from Atty Gen. Barr when the crimes of the past administrations have been revealed. Don't believe me? Just watch events unfold!

  17. The world debt in $244 trillion. The US has about $22 trillion; and China has about $30 trillion. When I hear talk of 'helicopter' money being dropped onto people to bring about a recovery, that's laughable. They don't have money; they have debt. Dropping debt onto people with a helicopter is another deception. People need to understand that massive printing of legal tender is not real 'money'. Printing it and dropping it onto the people is only providing them with toilet paper. The real outcome of the crisis that is already visible has been provided in Scripture; and something of this is included in my further comment.

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