Crash of World's Economic and Financial Systems

Crash of the world economic system

A third of the food produced in the world is sent to the trash. Fashion houses burn unsold clothes worth billions of dollars, and car manufacturers store products that have not found demand, right in the open air. Tens of thousands of cars have been rotting in these parking lots for years, polluting the environment.
The collapse of social security systems means that tens of millions of disabled people around the world who are supported by social security funds will find themselves without financial means of livelihood. It also means that hundreds of millions of people around the world who do not have enough capital or income to pay for their medical expenses will not be able to receive medical care. Hundreds of millions of people around the world will not receive any benefits if they lose their jobs.
Are you an accountant or calculating a salary? All your functions can be replaced by software right now. We’re at risk of losing 975 million jobs worldwide by 2030.
People can't find a job in their specialty. Many people are engaged in performing a work activity completely different from the one they were preparing for when studying at college or at a higher education institution. At the same time, the society loses personnel trained to perform highly skilled labor.
In the US, for the agricultural sector, unemployment among women reaches almost 10%. In Spain, unemployment is more than 10%. In some African countries, this figure exceeds 20% and even 30%.
According to some authoritative sources, the collapse of the existing financial system is inevitable.

A large-scale commercial real estate crisis is expected.

If banks valued their assets at market value, it would turn out that the entire global banking industry is in the red and on the verge of collapse.

The existing global financial system ceases to function and destroys the world economy.