A worsening global debt trap will make it much harder, if not impossible, for the world's central banks to respond to the next major financial crisis.
Ten years of low interest rates and money-pumping policies of central banks were intended to lift us out of the last financial crisis. But those policies also encouraged businesses and individuals to acquire mountains of debt. Now the central banks are stuck with no ammunition to fight the next crisis. But investors can take steps to protect their money.