(Kitco News) - According to the St. Louis Federal Reserve, the U.S. debt-to-GDP ratio is 125 percent. Research by economists Ken Rogoff and Carmen Reinhart suggests that a debt-to-GDP ratio in excess of 90 percent causes slower economic growth and may trigger a public debt crisis.
Max Borders, Executive Director of Social Evolution, is worried about more than. Speaking with Michelle Makori, Anchor and Producer at Kitco News, he said the U.S. economy could experience a total "collapse," due to its unsustainable debt levels.
He said that preppers, people who prepare for extreme collapse by stockpiling food, guns, and other essential supplies, are admirable.
"I am more and more, every day, starting to admire the preppers," he told Makori at the FreedomFest 2022 conference in Las Vegas. "The one thing that I see that portends an awful state of affairs is that the greatest economic power in the world's debt stands at [125 percent] of GDP."
Riots in the streets
Referring to recent events...
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