I'm not a fortune teller so take this for what it's worth from my few years of independent research in economics, politics, financial markets (working in the markets as well), history, and most recently, a year of diving head first into crypto.
Outside of the jobs numbers being manipulated/fake, unemployment manipulated/fake, housing prices being artificially inflated by foreign demand and easy monetary policy forcing money into real estate and financial markets which all coupled together is creating this fake semblance of a great economy, I think our economy is pretty crappy. Not the worst but definitely not good. Obama was spouting the same stuff Trump is now spouting, even though Trump was calling out all the bs when he was running for office. I guess he's actually looked under the hood and realized it's easier said than done to fix and thinks continuing spouting bs like his predecessor was doing is the best path.
https://www.thebalance.com/what-is-the-real-unemployment-rate-3306198
Almost every country out there has the same problems we are having. At least all of the major countries do. So if sh1t hits the fan in the USA, you can bet it's hitting the fan in Japan, Europe, China, and pretty much everywhere else. The financial world is even more intertwined now than it was back in 08.
I used to think that this Mad Max scenario would happen when I was a precious metals investor but not anymore. Now that I've learned about Bitcoin, blockchain, smart contracts, the crypto economy, and how it can and will displace the traditional financial economy and other markets, I think we have a good chance of not having a major catastrophic collapse. Yes there will still be bankruptcies and banks going under, but as this happens slowly and the more people and money that moves into crypto, it has a kind of equalizing effect to balance things out. Money will be lost on one end by the banks who cheated us of our money and that money will just be added into the crypto economy. The shift is already happening now and will only continue to grow.
I think the crash will happen gradually as opposed to a condensed crash like 07-08. Governments will do anything and everything to keep our fake bubble economy afloat. Can you imagine what would happen if the stock markets crashed tomorow? Governments have forced the majority of the population in stocks, bonds, and real estate. If the markets crashed, all the sheep that they forced/led into the financial markets would lose everything. Like what happened during the dot com bubble except this time it will be everyone everywhere. There would be blood on the streets and there wouldn't be an easy fix this time. They dropped interest rates 7% last time to 0% before raising it slowly to 1% over the course of 2 years. You can't drop it from 1% where it's at now to 0% hoping for a dramatic effect.
So assuming that we don't have a financial collapse with a crypto collapse, I think we'll be fine. Any major market dip is an opportunity to accumulate more. I'm on the train that Bitcoin will be in the $100k+ range in a few years. It's already about to breach $10k as we speak. Wouldn't make sense for people to cash out of crypto into fiat dollars, euro's, yen or yuan when those currencies can be printed into oblivion. If financial markets are stable, I'd rather stay in a currency that can't be printed to an infinite amount of supply. If it's the scenario where markets are imploding then I'm expecting a Mad Max scenario where holding large sums of dollars, gold or bitcoin will all be worthless. The cascading crash of global markets would literally create an apocalypse.
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TL;DR - Buy crypto as I don't see 2008 happening in the near future. Our markets cannot be allowed to crash as we are too globally intertwined.
