Global Economic Forecast 2010-2015: Recession Into Depression

In his provocative look at the global economic crisis, Sheldon Filger presents an urgent warning that the unprecedented budget deficits and growing national debt to GDP levels of major advanced and developing economies will result in a critical sovereign debt crisis by 2012, plunging the global economy into a synchronized depression. Though the avalanche of sovereign debt has been justified by policymakers as the solution to the economic crisis that exploded with the collapse of Lehman Brothers in September 2008, Sheldon Filger provides compelling data and a cogent analysis that convincingly demonstrates that the present trajectory being pursued by decision makers in the United States and other major economies will inevitably lead to fiscal collapse. Mr. Filger forecasts that the economic depression that is likely to occur will lead to the demise of the U.S. dollar as the international reserve currency, massive economic dislocation and major social and geopolitical consequences. The author also presents recommendations for policymakers in government, as well as decision makers in business.