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# The IMF just released their annual report detailing <b>global economic stability</b> and they suggested that there might be <b>[trillions of dollars](https://www.theguardian.com/business/2018/oct/10/imf-warns-global-economic-stability-risk-from-no-deal-brexit)</b> in US wealth that's at risk of being slashed in the next financial crisis.
<center> </center> Various financial experts have increasingly warned that we could see <b>a recession coming sometime soon</b> or within the next several years. 

Economists have suggested that thanks to <b>trade wars and growing interest rates</b>, there is an increasing chance that a [recession might hit the United States](https://www.france24.com/en/20181010-trillions-us-net-worth-vulnerable-recession-imf). Other risks that have been identified which might drastically impact economic stability include <b>concerns over [the Brexit deal](https://www.theguardian.com/business/2018/oct/10/imf-warns-global-economic-stability-risk-from-no-deal-brexit)</b>, and more.

According to the recent report from the IMF, they suggest that the <b>overall wealth that's been accumulated</b> from the *17 most advanced economies in the world*, is now trillions of dollars less than it was back before the previous financial crisis. 

[It's estimated that the combined wealth for those countries is roughly $11 trillion lower than it was before the last financial crisis](https://www.straitstimes.com/business/economy/trillions-in-us-net-worth-vulnerable-to-recession-imf). They suggest that for several years now that the net worth of the United States has been in decline. 

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# Liabilities
<center> </center> [State and local government retirement pensions](https://www.cnbc.com/id/100959648) are said to be one of the biggest financial risks, and nationwide it's suggested that some pension funds are <b>underfunded by roughly 8 percent of the GDP</b>.

Using a previous <b>stress test</b>, that had been developed by the Federal Reserve, the IMF suggests that <b>a serious recession</b> could potentially cut <b>the value of publicly held assets</b> in the country by an amount that's equal to [roughly 26 percent of the GDP](https://www.straitstimes.com/business/economy/trillions-in-us-net-worth-vulnerable-to-recession-imf) by 2020. 

They estimate that in the event of such a recession, that real estate prices would plunge, along with a dramatic rise in defaults on mortgages, student loan defaults would increase as well, stocks would collapse, and overall [debt would quickly surge](https://www.straitstimes.com/business/economy/trillions-in-us-net-worth-vulnerable-to-recession-imf).

But [while some say it's just a matter of time before a a financial crisis takes place](https://www.dailymail.co.uk/news/article-6198007/Experts-warn-recession-hit-two-years-worse-Great-Depression.html), other financial experts insist that we have [nothing to worry about](https://www.forbes.com/sites/greatspeculations/2018/10/11/economy-decelerates-but-the-fed-doesnt-see-it/#238db040461f). Some say that thoughts of a recession taking place in the next few years <b>are unfounded</b> and they have waved off worries of anything concerning making its way down the pipe. 

Despite the naysayers though, it appears that there is a [growing number of economists](https://money.cnn.com/video/investing/2018/09/17/jim-rogers-investing-markets.cnnmoney/index.html) and other financial experts who are suggesting that it's <b>only a matter of time</b> before we start to see an [economic downturn](https://www.economist.com/special-report/2018/10/13/another-economic-downturn-is-just-a-matter-of-time). Financial experts like Jim Rogers and others, have suggested *that we could be only a few years away* from seeing the [US dollar lose global dominance](https://www.siasat.com/news/dollar-way-out-jim-rogers-1406754/).



Pics:
Pixabay

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