When will the world’s paper wealth bubble burst?
King World News weekly – May 29, 2015
Egon von Greyerz: “Eric, I don’t think the general public has any understanding of what is happening in the world today and the incredible risks we are seeing. Since 2008, world debt is up over 40 percent and so now the world has unsustainable debt levels of over $200 trillion. So in the last 100 years global debt has gone from virtually zero to $200 trillion. This has had the effect of creating a false standard of living and affluence, which is built on debt and consumption. People think the illusion is real but it isn’t. It’s really a massive bubble and it’s coming to an end.