In November 2008, the late Queen Elizabeth famously requested a bunch of economists why no person seen {that a} monetary disaster has been coming.

In reality, a number of economists had been alerting the world to the rising hazard, however their warnings had been ignored.

Step ahead Jeremy Grantham, Peter Schiff and Nouriel Roubini, who at the moment are urgently warning that we're charging in direction of an excellent larger catastrophe.

These males aren’t hoaxers, web cranks or crazed survivalists, however among the many most revered monetary specialists on the planet.

One of them is even a noble prize-winning economist. All have the identical message, and it makes terrifying studying.

I reported on certainly one of them final week, renowned US investor Jeremy Grantham, who didn’t simply predict the good monetary disaster of 2007/08, however the dot.com crash of 2000, too.

He is warning that years of low-cost cash and rates of interest have created a "superbubble" that can shortly burst.

When that occurs, inventory markets might fall between 27 p.c and 50 p.c, relying on how fortunate we're, Grantham says.

He says the state of affairs is “ominous” and in a crash this massive “almost everybody gets hurt”.

If it was only one man saying this stuff – irrespective of how admired and skilled – it might be simpler to dismiss.

Unfortunately, Grantham is not alone.

Economist Peter Schiff, chief government of Euro Pacific Asset Management, additionally noticed bother brewing in 2007.

In August 2006, he mentioned the US “is like the Titanic and I am here with the lifeboat trying to get people to leave the ship. I see a real financial crisis coming".

Later that year, he warned that property prices were “going to come crashing back down to earth" and we were heading for a "deep recession". A few months later, the sub-prime mortgages mis-selling scandal broke.

Today he is just as worried, warning that the US banking system is “a house of cards that is starting to collapse”.

Schiff mentioned final month central bankers just like the US Federal Reserve have created an excellent larger bubble than in 2007, by means of years of low rates of interest and different financial stimulus.

Last month’s banking disaster is the cusp of a a lot worse monetary disaster, he added. “The US economy is poised on the biggest economic disaster in its history.”

Which is chilling stuff.

But not as chilling as Nouriel Roubini, the Nobel prize profitable economist I discussed earlier.

He received the nickname Dr Doom after accurately predicting that the credit score crunch would set off a systemic monetary disaster and international recession.

Today, Dr Doom is even gloomier. Last month, he mentioned a “severe recession” is probably going within the subsequent 12 months due to a “Bermuda Triangle” of risks to the worldwide economic system.

It will finish within the “mother of all debt crises”. Brace yourselves.

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Roubini warned in regards to the “huge build-up of debt” worldwide, as households, companies, governments and even entire nations are successfully bankrupt.

He described them as “zombies” that had been solely saved alive by years of low rates of interest.

The meltdown is not distant: “It’s too late to find a solution that prevents a hard landing and prevents severe financial stresses,” Roubini mentioned.

This is horrifying stuff and there are certainly reasons to be worried right now. We all know the mess we’re.

Yet it is also value noting that every one three males are well-known “perma bears", which means they take a constantly bearish (negative) view of the global economy, as opposed to being positive and bullish.

I've been writing about finance for more than 25 years and in all that time, Dr Doom has been diagnosing Doom, Doom, Doom.

Grantham has also been predicting stock market collapses for years, while making a fortune from rising share prices.

Schiff is another perma-bear who has also been labelled Dr Doom, although in 2021 he rejected this nickname saying: “I'm not Dr Doom just Dr Reality.”

As Grantham has admitted, predicting a crash is easy, the hard part is saying exactly when it's going to happen.

These three soothsayers get round this by repeatedly predicting the worst, year after year.

At some point, they have to be right.

Will it be this year? We'll soon find out.