In 1929, the stock market, along with the bulk of our financial system collapsed. There was wide-spread panic. People were jumping out of the windows on Wall Street. There was a major down turn of the global financial system. Many people were out of work. Many stood in soup lines to keep from starving.
Many experts on Wall Street say that a financial collapse like the one in 1929 could not happen today. Others disagree.
EMP (Electromagnetic Pulse). An electromagnetic pulse (EMP) can be caused by a nuclear explosion in the upper atmosphere, or a severe electrical storm. An EMP is capable of making all things electrical and computer operated become inoperable for up to 20 years. That's why we it is so important to prevent countries like Iran from developing nuclear weapons. We also need to keep a close watch on North Korea.
The stock market is run almost completely by speculation. No one knows for sure what will happen tomorrow. A major catastrophe could potential cause the stock market to crash. This would be very bad news for the entire economic system.
Our national debt is at an all-time high. A large portion of that debt occurred during the eight years of the Obama administration.
When it comes to finances, debt is the enemy. The only way to experience total financial freedom is to be completely debt free.