Oil Collapse Could Cause The Most Destructive Economic Situation Since the Great DepressionWith the price of oil hovering around $44 and U.S. oil inventories at record highs the general consensus is that the economy will soon see a boost in consumer spending as Americans will take their gas savings and spend it at retail stores. But there’s a lot more going on with oil on a geo-political scale than can be pumped into a 30-second propaganda soundbite from financial pundits and talking heads. While lower prices may seem like a boon for the American economy, what’s been missing from mainstream assessments are the fundamental data points that show just how serious a problem we may be facing. As you’ll see in the succinct breakdown by Future Money Trends in the micro-documentary below, we’ve got some big problems coming our way. It all starts with the fact that debt in the energy sector over the last six years has exploded to $1.7 Trillion on the hopes that oil would continue to trade at around $80 to $100. As we know, that’s no longer the case, which means that all of the companies who took out large loans are no longer able to service their debt. The end result will be widespread defaults in the oil industry. It’s a recipe for disaster and one that will likely play out right before our eyes in coming months. In the context of current central bank money printing, deflation scares and currency wars; this could cause the most destructive economic situation since the Great Depression. We could see the oil price spike and crash in wild swings of volatility; further scaring already timid capital markets and destroying any thoughts of economic recovery. This will be felt the worst in the United States. More