We are headed for an economic argammedon

According to IMF: “And countries will need to increasingly spend more to cope with aging and healthcare; with the green transition and climate adaptation; and with defense and energy security, due to growing geopolitical tensions.”

So there is little hope of reducing debt in the near future. Countries which have debt in their own currencies can print money to pay off their debts. But that will cause inflation and negatively impact savers and investors. Other countries, may default on their foreign currency denominated debt. We are headed for an economic Armageddon in the highly indebted countries. It is time to think of converting your financial assets into physical assets. Like real estate and precious metals.

Reference: https://www.imf.org/en/Blogs/Articles/2024/10/15/global-public-debt-is-probably-worse-than-it-looks

Source: fool49