Western style socialist democracies are using increasing quantities of debt to sustain their citizen’s standard of living. In the USA we are running a huge deficit with Medicare health costs and even the interest payments on our national debt* could outstrip Medicare debt. If the West fails to fix this you should expect a global economic collapse within the next decade. This will be a long term depression as the West will be unable to borrow its way out of it as it did with the Great Recession of 2008. Banks and others that were saved by TARP will fail this time around exacerbating and accelerating this crash. Asia lead by China will then become the Economic world leader and as they say “He who has the gold rules”.
* The almost 3 trillion dollar Social Security surplus is being applied against the national debt and as that is paid out to retirees our debt will increase accordingly!