Wiedemer: Get Ready for Second Recession, Inflation
Financial guru Robert Wiedemer says that America is facing a double-barreled threat. He stated that a "recession" is actually coming and inflation will be the "biggest problem of all." I'm not sure that America actually climbed out of the recession over two years ago. I know I read a news report last year that stated America had climbed out of the recession in 2009, but it's difficult to believe the news concerning the American economy when the news media is a propaganda arm of the government. The way things are appearing I wouldn't be surprised if we're on the verge of a second great depression. We have foreign holders of debt. China holds over one trillion dollars of America's debt and China has told our government to get its financial house in order. The fact that we have foreign holders of our nation's debt is scary. What is going to happen if foreign countries decide to stop using our dollars?
Since Congress and President Obama has made an "agreement" concerning the debt ceiling earlier this week, the Dow has plunged 512 points. There is major uncertainty in the market today. That doesn't mean businesses are broke. However, they're scared because they don't know what to expect from the Obama administration. The federal government is increasingly controlling more and more aspects of the American way of life.
I do agree with Wiedemer that inflation will be the biggest problem of all. Within the last two presidential administrations, the Federal Reserve has been printing money like crazy. America is continually piling on debt. It's affecting our credit rating. Moody's says that our credit will be downgraded meaning interest rates will be higher, for example. If government doesn't rein in federal spending and function like a sane government, then our republic is finished, if not already. Clink on the above link entitled, "Wiedemer: Get Ready for Second Recession, Inflation" to read what he has to say.
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