The world economy will face a worse crisis than in 2008 – expert

The world economy is facing a more serious crisis than the one that occurred in 2008. The reason is that the level of government debt is much higher now than it was then, both in the United States and in other countries. This warning was voiced by Jim Rogers, a U.S. investor cited by RIA Novosti.

The global crisis 15 years ago occurred because of the U.S. national debt, but now its volume has increased significantly. However, the authorities of the country are not ready to admit their mistakes and shift the responsibility for the recession to other countries, the expert says. Those who place large deposits in U.S. banks should be vigilant - this applies not only to customers from the U.S. but also from other countries, he warns. At the same time he recommends looking at banks abroad to place deposits, because now many of them, in his opinion, are more reliable.

Nevertheless, the investor predicts a large-scale global recession and the collapse of many banks in the U.S. and other regions, including Europe and Japan.