{"id":3478,"date":"2018-09-16T09:03:56","date_gmt":"2018-09-16T14:03:56","guid":{"rendered":"http:\/\/blog.steveblaising.com\/content\/?p=3478"},"modified":"2023-01-17T17:52:36","modified_gmt":"2023-01-17T23:52:36","slug":"protect-yourself-from-the-next-financial-collapse","status":"publish","type":"post","link":"https:\/\/blog.steveblaising.com\/content\/protect-yourself-from-the-next-financial-collapse\/","title":{"rendered":"Global Financial Collapse on the Horizon? Hope Not!"},"content":{"rendered":"\n

Don\u2019t laugh at the possibility of a global financial collapse.<\/p>\n\n\n\n

It almost happened ten years ago and I still can\u2019t believe it.<\/p>\n\n\n\n

On Sunday September 14, 2008, the Treasury Secretary of the United States was on his cell phone down the hall from his office so no one could hear him.<\/p>\n\n\n\n

Hank Paulson was panic stricken and he wanted to talk to his wife Wendy.<\/p>\n\n\n\n

\u201cWhat if the system collapses?  Everybody is looking to me, and I don\u2019t have the answer.  I am really scared.\u201d <\/strong> Henry M. Paulson Jr., On the Brink: Inside the Race to Stop the Collapse of the Global Financial System<\/em><\/p><\/blockquote>\n\n\n\n

Let that sink in for a minute.<\/p>\n\n\n\n

Could you ever imagine the Treasury Secretary of the United States scared?<\/p>\n\n\n\n

Days later he pleas with every leader of our government for quick action.<\/p>\n\n\n

\n
\"Imminent
The brink of financial collapse 2008\/Steve Blaising\/The Doctrine of the Future and the Marketpla<\/em>ce<\/mark><\/figcaption><\/figure>\n<\/div>\n\n\n

Here are four things to know about the possibility of another collapse<\/a>.<\/p>\n\n\n\n\n\n\n\n

1. Worldwide credit almost disappeared<\/strong><\/h3>\n\n\n\n

Imagine the world financial system with no access to credit.<\/p>\n\n\n\n

That’s what Hank Paulson and Ben Bernanke were freaking about on September 18, 2008.<\/p>\n\n\n\n

Credit markets seized up days after Lehman Brothers filed bankruptcy.<\/p>\n\n\n\n