Is the world economy in trouble?

http://www.learnaccountingfast.com There is about $60 trillion dollars of debt on the banking system. The entire banking system is drowning in leveraged debt. For a long time the debt in the banks grew at about 2X the rate of growth in the economy. Lately this has exploded. The bank debt is now growing at 30X faster than the economy. "The whole thing has become unstable" We have seen a lot of signs the stock market is heading toward a critical state. The stock market is on the verge of a catastrophic crash. If you look back at the stock market capitalization to GDP ratio it is going sky high. The market capitalization compared to GDP in the great depression of 1929 the ratio was 87% today it is 203% Twice as high as it was in the Great Depression Another warning sign that gives concern “the gross notional value of derivatives. now reaching $710 trillion. This can have a dramatic impact on the current markets if these where to collapse. We are now reaching a super critical state which is unavoidable. In 2007-08 all the loss wealth during this crash was approximately $60 trillion now with the system bigger we estimate the loss of wealth to approximately $100trillion or possibly more. This will require a flash point. One key point is foreign ownership of US government debt. The treasury debt is owned by foreign countries like Russia China and other countries who are not friendly with USA. They have the option to operate in the financial markets by dumping the treasuries in preparation for possible sanctions imposed by the USA for actions against the rest of the world. Keep watching this space as we continue this interview by Steve Meyers and the Money Morning team with Jim Rickards author of the book “The Death of Money” https://www.youtube.com/user/MoneyMorningTV http://www.learnaccountingfast.com