The global debt bomb is about to explode and take several countries with it, leading to the most dangerous, unstable time in the history of the world since World War II.
After the government of Sri Lanka began experiencing hyperinflation and shortages of nearly everything but especially food beginning last month, the situation there quickly escalated into mass unrest and threatened to topple the government.
“Many people in Sri Lanka are facing acute food, fuel and medicine shortages as it battles one of its worst economic crises since becoming an independent nation in 1948. The economy had been hit badly by the Wuhan coronavirus (COVID-19) pandemic as tourism – one of its crucial revenue generators – came to a standstill, as did other major sectors and foreign remittances,” Natural News reported in May.
“Moreover, the government piled up a mountain of debt by borrowing heavily from foreign investors and countries. It also implemented badly-timed tax cuts and banned the import of chemical fertilizers to encourage organic farming, which led to farmers being unable to grow enough crops,” the report added.