While attending a CEO leadership summit with Vistage last week, a keynote from ITR Economics predicted the US would experience another Great Depression in 2030.
[Insert anear-piercing record screech, and tires squealing on a lonely desert highway.]
If this had come from some random, no-name blogger on the internet, then I wouldn't be surprised.
But instead it comes from a global economic forecasting firm with a 94.7% accuracy rating.
While that's impressive, that percentage is based on predictions that are "12 months out," not "10 years out," so don't go prepare your Armageddon bunker in Idaho just yet.
So why do they think this depression might occur:
Changing US demographics
The costs of health care
US government entitlement programs
To hear more, and how you and your kids can prepare for this coming economic collapse, here's an ITR Economics interview you might like. Oh joy!
So, what's the purpose of this shocking or incredulous post?
Always question the source of data brought to you by your team.
Do scenario planning as you refine strategy for your company's future: (1) Downside, (2) Base case, and (3) Upside.
Sound business principles today will likely prepare you for scary scenarios in the future: Save more money. Use less debt. Diversify your income sources. Be prepared to grow your business and make new investments when the rest of the market is running away.
As Warren Buffet says, "Be fearful when others are greedy and greedy when others are fearful."