I recently watched the movie ‘The Big Short’. Now, I wouldn’t recommend the movie as a family movie. It had a lot of language and other stuff that I would not want my family to see. However, the story of the movie was very instructive.

In case you don’t know, it was based on a true story of what happened in 2008. The banks were making a lot of risky loans to people on their homes and figured they were safe. A lot of them were interest only and made to people with very risky credit.

They were then repackaging those loans into securities and selling them to the public as safe investments. This was borderline fraud. The problem was that everyone was in on it from the ratings agencies to the government.

Very few people saw the collapse coming, but a few smart guys placed money on it crashing. They made a lot of money, but at one time they were afraid of losing everything. The only thing that saved anyone was that the government took money from us and bailed out the big banks.

So, the big banks got bailed out and paid themselves big bonuses with our money while the national debt just got bigger. Now most of those banks are bigger and highly leveraged. That means that if things don’t go as planned, they could have a bigger problem.

They movie gave me a little bit of deja vu as the main characters in the movie said what was going to happen and no one believed them. I am saying we are headed for another major disaster and very few people want to believe me.

I don’t know for sure what will trigger the disaster, but I suspect debt defaults will play into it. We have a trillion dollars worth of college loans and many of them are behind on payments. Corporate debt is also struggling as well as car loans.

If the economy keeps on struggling along like it has been and we get a little downturn, it could start the ball rolling. I just can’t see how we can kick the can much further down the road.