Is the world on the verge of another financial collapse? Yes! The western world is drowning in an ocean of debt, unlike anything the world has ever seen before, and our financial markets are gigantic casinos, that are dependent on huge mountains of risk and leverage remaining very stable. In the end, this house of cards that has been built on a foundation of sand is going to come crashing down in a horrifying manner. Usually in this column, I go on and on about why things will soon get much worse, but today I am going to take a bit of a break. Today, I am going to let some of the top financial professionals in the world tell you why things will soon get much worse. Many of the quotes that you are about to read just might make the hair on the back of your neck stand up. Most people out there have no idea what is about to happen. Most people out there are working hard, and are so busy preparing for the holidays, and they are hopeful that the economy will turn around soon, but that is NOT going to happen. We are headed for another major global financial collapse, and when it happens, the economy of the United States economy is going to get even worse. The epicenter for the coming global financial collapse is almost certainly going to be in Europe. As you will see below, financial professionals all over the world are sounding the alarm about Europe. It is a disaster that everyone can see coming but that nobody seems to be able to prevent. Of curse, the failure of the "super-committee" in the United States certainly is NOT helping matters: There is already talk that we may soon see another downgrade for US debt. It is hard to even describe how incompetent the US Congress is. When the time comes, who is going to step forward and provide that leadership? That is a really, really good question.