#BTC Breaking! The United States is set to fall into a Great Depression more severe than in 1930.
First, the proportion of the United States' debt to GDP has exceeded the critical point of 120%, far higher than the 16% in 1929. What is even more frightening is that in 1929, the main holder of U.S. debt was the private sector, whereas this time it is the U.S. government.
Second, the pressure resistance capacity of American society has deteriorated, specifically reflected in the decrease in the savings rate of residents and the doubling of debt among the middle class. In 1929, the savings rate