On the Money News website, Donald Trump, a real estate developer in New York is warning that massive inflation is coming to America. He stated that the U.S. economy is poised for "massive inflation" and that investors better take steps to prepare themselves. In a CNBC interview, Trump told investors that they shouldn't trust official government statistics. In questioning the official employment numbers Trump said unemployment is 20%, not 8.3%. He also believes skyrocketing oil prices will cripple the economy. "Right now, 'oil' is at an all-time record for this time of the year, in the summer they predict $5 gasoline, maybe $6." Trump isn't the only expert sounding the warning alarm for massive inflation. Robert Wiedemer, author of the New York Time's best-selling book Aftershock, stated in a recent interview, "The data is clear, 50% unemployment, a 90% stock market drop, and 100% annual inflation...starting in 2012."
I know there will be some people out there that will say, "I've heard all these doom and gloom warnings for years and it hasn't gotten that bad yet." Maybe not yet. But there will be a day when the bottom falls out. I believe God's been merciful to this country. When you take a look at the direction America is going economically, we're headed for hyperinflation. High fuel prices raises the prices of goods and services in particular. High fuel prices will make it more costly for businesses to operate. Businesses won't add jobs when the costs to operate that business becomes increasingly expensive. Also, the Bush tax cuts are set to expire in January 13, which will slow down the economy even further. When Obamacare is fully implemented in 2014, it will slow down the economy even further and it will be costly. We need to wake up and realize there's a day of reckoning coming. When that day is I don't know for sure, but it's coming.
To read the full story, click on the above link from MoneyNews.com.
No comments:
Post a Comment