The 2030 Greater Depression

The Year Everyone Is Talking About

It is like a runaway train, that everyone is trying to avoid. However, why is everyone so afraid so arfraid of year 2030 and why?

ITR Economics

They have been providing economic intelligence since nineteen forty eight, and they have a ninety- four point seven per cent, forecast accuray at one year out.

One year out means a forecast for a year from now, however, they have a substantial track record,

Let's Examine Why They Predict Another Great Depression

Demographics

As we approach 2030, an aging population is a global issue that is a strong reason for the up coming Great Depression. Many major countries, especially China, Germany, Russia, Japan and Canada, are projected to have the highest percentage of population in the forty to sixty age group, as well as the 65 plus age group starting in 2030.

The United States hasn't dodged the bullet , as we also have an aging population. This is bad news because the older generation won't have as a large of a younger base as in the past to support them by paying a large share of taxes. Having fewer young people may also lead to significant labor problems heading into the 2030's.

Health Care Costs

Growing old often isn't easy. With an aging population , the number of people needing and receiving Social Security benefits and health care increases. In fact healthcare expenditures are rising faster than the United Sates GPA. In 2020 there was sixty-two million Medicare recipients. By 2030, it is expected there will be a staggering 80 million Medicare recipients. This increase will put a lot of pressure on the United States Government.

Along with the greater number of elderly people needing care, health care costs will continue to escalate with future inflation.

The government will need more money to fund and support all of this, meaning more or higher taxes and more boroowong, both of which weigh heavily on economic growth,

Rising National Debt

The current national debt is above 30 trillion. The less debt a country has, the better it will be positioned for an upcoming downturn in the economy, leading up to 2030. No change in political soultions are predicted to fixing our debt issues. Neither party is to blame and neither party is likely to fix it.

Increased Entitlement Spending

Looking towards the future, there just isn't going to be enough funding for programs like social security, medicare and prescription drug assistance. Unfortunately, Social Security trustees see no new tax solutions that can be rescued under our funded Social Security program as it just too late to make a substantial difference.

If the millions of Americans who need those checks were to see their Social Security cut, it would become common to see the elderly needing to move in with their families and make hard spending choices..

High Inflation

We are currently experiencing a surge in inflation. While some are convinced that the inflation will continue to rise, others believe the peak, and deflation take its place

Federal deficit spending will likely be a common trendof the twenty twenties, with a decline in the value of the US dollar, a likely consequence. When the US dollar is weakened we will experience higher inflation.

So What Do You Think?

Do you think the United States, and other countries will experience a global depression by 2030?

I will end this article, like I do all of my articles, as long as the United States is in any conflict at home or abroad.

Please Pray For Peace

Please Stop The Violence In The World