The world economy faces a massive crisis, comparable with the Great Depression, experts warn

A number of economists and experts agree that the world economy is heading for a deep crisis comparable to the Great Depression. For example, the Universa Investments fund, which is advised by renowned financial expert Nassim Taleb, who predicted the global crisis in 2008, has recently warned its clients about it. It writes the portal with reference to Bloomberg.

According to the chief investment director of the fund, the threat of collapse was created by the low interest rates of the Federal Reserve System, which prevailed over the past 10 years. They have led to a huge amount of liquidity in the markets and provoked excessive borrowing. The result has been a credit bubble, which at some point will burst, with disastrous consequences.

Economist Nouriel Roubini warns that record levels of U.S. government debt will cause a debt crisis and, along with the Fed's aggressive interest rate hikes last year, a deep recession that could destroy the economy. Michael Bury, famous for his stance against the U.S. housing market before the 2008 mortgage crisis, estimates that the stock market is on its way to the greatest failure, comparable to the Great Depression, because the level of global indebtedness is too high.