The other week I took my son out to fly a drone we got him for Christmas — an aerial device that can hover and record video as it flies through the air.
We didn’t get him a top-of-the-line model — after all, he is just 7 years old — but it can still fly about 100 yards before you have to follow.
My son had flown the drone before, so I assumed he had piloting it down well enough to land it before entering the nearby woods … I was wrong.
I turned my back for literally 30 seconds, and he had already flown the drone as high as it could go, allowing it to drift directly over a wooded area about 50 yards from where he was standing. And, as if on cue, the drone plunged right into the middle of the woods.
At this point my son was pretty upset, as was I.
But I could only imagine how he felt as one of his favorite Christmas presents slipped farther and farther away before it was gone…
That feeling of seeing something you really enjoyed unexpectedly crashing is something I think central banks around the globe can relate to right now…
Global central banks have used every scrap of available monetary power to help the global economy take flight … yet nothing has gone quite according to plan.
The economy is now in the process of crashing back to earth, and central banks have no control and no buffer to even slow the situation down.
The result of this dangerous mix is a dire outcome for the global economy that will send us plunging into a stock market crash.
Into the Woods
As proof that the global economy is already on a downward spiral, the World Trade Organization (WTO) lowered its trade growth forecast for the year to just 1.7%, down from previous expectations for growth of 2.8%. The WTO also lowered its 2017 growth expectations.