The next financial crisis may not happen for years, but the next economic meltdown could be as imminent as 2020.
In a recent interview with The Hill, former Goldman Sachs managing director Bill Dudley predicted that financial crisis could occur in 2020 and said it’s not just the U.S. that needs to prepare.
“We’re going to have a global financial meltdown, probably by the end of 2020,” Dudley said.
Dudley’s warning comes amid a global debate about how much the global economy can handle.
The question is how many countries are prepared to absorb the economic consequences.
A global financial crisis is the result of too much financial and economic growth that leads to too many people, companies, and institutions taking risks, according to the Global Financial Stability Report, which was released by the IMF and the World Bank.
While many experts believe that financial market bubbles are the root of the problem, Dudley and other economists believe it could be exacerbated by the combination of too-big-to-fail financial institutions and the lack of transparency of their financial activities.
At the same time, Dudley said that the U,S.
needs to start preparing for the worst.
With so many people and businesses at risk, the U