Anyone who thinks the U.S. is in recovery should stop listening to the mainstream media and listen to John Williams. He heads up Shadowstats.com, and is one of the few economists who crunches the numbers to give unvarnished true statistics. Adjusted for real inflation of about 7%, Williams says, “GDP has plunged, and we have been bottom bouncing” ever since the financial crisis started. Williams says, “The next crash will be a lot worse (than 2008) because it will push us into the early stages of hyperinflation.” He predicts this will happen “by the end of 2014– at the latest.” Long before 2014, Shadowstats.com thinks there is a good chance of “panic selling of the U.S. dollar,” if the Federal Reserve starts another round of money printing (QE3) to save the system and the big banks.
No matter what Williams predicts, “There will eventually be a crisis to bring the system down as we know it. . . . We’re on the brink.” According to Williams, “at some point, you will see a new currency in the U.S.” The founder of Shadowstats.com sat down for a one on one interview with Greg Hunter to talk about the mathematical certainty of a systemic collapse in the not-so-distant future.
If you want a no-nonsense look at the world and where we are heading, you talk to a journalist who has seen it all. James Howard Kunstler began his career in the 1970’s at Rolling Stone magazine. Thousands of articles and 11 books later, you have a writer with the experience to decipher a very complicated world.
The big story of our generation is the financial calamity we face, and Kunstler writes about it almost weekly on his site, Kunstler.com. He thinks “the global banking system is broke,” and world powers are “trying to conceal it.” Kunstler says, “All the loans are bad and we are pretending they’re not.”
The world is heading for a “lower standard of living,” and the only question is “how disorderly will that process be.” Greg Hunter goes one on one with James Howard Kunstler.
Forget about the outcome of the Greek elections. The only thing that matters, according to Karl Denninger of Market-ticker.org, is math. Denninger thinks, “The powers that be are lying about the solvency of institutions and this is doomed to fail.”
He still thinks the financial crisis “detonates before the election,” and “layoff numbers start going back up.” If the U.S. isn’t careful, we could be looking at a sudden 50% to 75% cut in the federal budget. Greg Hunter goes one on one with Karl Denninger.
The nice folks at RNN gave me and USAWatchdog.com a nice plug. It, also, broke some news that was basically ignored by the MSM this week. The U.S. gave Iran a “last chance” ultimatum about its nuclear program. This is a cartoon, but what it is talking about is anything but funny. The description put on You Tube said, “Midday News for March 14th discusses the ISDA declaration of a Credit default event in Greece and the subsequent reaction in Gold and Silver pricing. We review the move by the CME to get out of the business of clearing European Derivatives. We also touch on Tuesdays FOMC and the message sent to Iran by Hillary Clinton.” Give it a look. It is not very long, but it is good.