Is the world going to face the worst global recession since the 1930s?

Here is how banks and the Fed are preparing for a US default...

The major banks and financial authorities are preparing for a potential default on U.S. debt in a variety of ways, including by convening war rooms, formulating swift bailout plans, and sounding house-on-fire alarms.

According to India Today, You might not be able to understand so lets get this straight! US is in a debt of $31.4 Trillion Dollars. As the world is preparing for the worst global recession as attacks escalate due to the deadline coming close.

The U.S. Treasury Department has issued a warning that the federal government may not be able to pay all of its debts by June 1, which is less than two weeks away. That would result in a default, which may destabilise the financial system and drive up interest rates.

There's nothing American people can do when central bankers can print money to fund wars. A lot of Americans are against it.

— OPZ

And the effect will be seen everywhere including jobs, stock market, inflation and more.

According to NDTV news agency, The doomsday preparations are a response to President Joe Biden and House Republicans attempts to raise the US$31.4 trillion debt ceiling without much success; a new round of talks was held on May 16, 2023. The United States cannot borrow more money to pay its payments, all of which have already been approved by Congress, without a rise in the debt ceiling, which practically means a default.

Which indicates that less 2 weeks apart there might be a global reccesion worse that the 2008 reccesion. Stay Safe and Prepared for Anything and stay updated with Union Daily news.