“We are in unprecedented times. What we are seeing right now could be the end of a 2,000 year cycle, or possibly the end of a 300 year cycle. We also have the end of the 100 year cycle which is based on the creation of the Fed in 1913. The confluence of these cycles will cause unimaginable turmoil in the future.
What is clear is that the world has been living above its means for a very long time. What we have seen has been the result of printed money and a massive increase in credit. This is why much of what we have seen is not real growth, and therefore the wealth is not real wealth. This is why the current system cannot last.
We now have a house of cards, and as I said before, this is unprecedented in world history because this is happening in every country in the world. Every single country is indebted to a level that has never happened on a worldwide basis before. This is why the consequences will be so much greater than the what the world has ever experienced at any time in history.
Eventually the current system will implode, and we will see a dramatic lowering of the standard of living. Before that time you will have social unrest, war, cyberwars, etc. But you will have massive suffering. So, sadly we are entering very difficult times. It could take decades of turmoil. Remember, the Dark Ages after the fall of the Roman Empire lasted 500 years.
So we could see an initial fast decline of the world economy, and then we could just go along the bottom for a very long time. What is clear is that it will happen, and the first phase of this will take place in the next few years.