{"id":"a22413c0-929c-4e69-b6b0-0b1740eae774","slug":"the-coming-economic-world-crisis","title":"The coming economic world crisis","authors":["James I. Ausman"],"abstract":"Background: The article discusses the looming economic crisis characterized by unprecedented levels of private and public debt, which are not adequately reported in the media. In the USA, private debt amounts to approximately $38 trillion, while public debt is around $20 trillion, leading to a total of nearly $60 trillion in debt. Globally, the total debt is estimated at $230 trillion, significantly overshadowing the total GDP of $75 trillion. Summary: The editorial highlights the unsustainable nature of current debt levels and the potential consequences of failing to address these issues. It outlines various options governments may consider to manage their debts, such as increasing taxes, printing more money, or seizing savings, each with detrimental effects on the economy. The author warns that the eventual outcome may lead to hyperinflation and a deflationary implosion, affecting the value of currencies and real assets. Conclusion: The author emphasizes the urgency of recognizing the impending economic crisis, which has been largely ignored by the public and policymakers. Despite previous predictions of economic collapse, the timing remains uncertain; however, the fundamental principle that one cannot spend more than they earn is clear. The editorial calls for greater transparency regarding the economic liabilities faced by governments and the need for informed public discourse. Keywords: economic crisis, debt, inflation, public debt, private debt, financial reporting, global economy, monetary policy","thumbnailUrl":null,"publishDate":"2018-04-23T00:00:00.000Z","doi":"10.4103/sni.sni_461_17","categories":["Socio-Economics, Politics, and Medicine","Editorial"],"fullTextUrl":"http://surgicalneurologyint.com/wp-content/uploads/2018/04/8840/SNI-9-89.pdf"}