Bob Chapman: No Decoupling, Worldwide Depression, Inflation Will Rage Globally
Bob Chapman writes Fed as Policeman for Economy a Big Mistake
As you have already seen this is a worldwide depression and no one will escape. Europeâ€™s economy is already in a shambles as is the US economy. Inflation will rage all over the world, because every nation has created massive amounts of money and credit as demanded by US and British elitists. They have all overmedicated the patient. As the Broadway hit play of many years ago told us, we are going to have to go through a â€œPeriod of Adjustment.â€ Some nations will get off easier than others. There will be no decoupling and many nations could have revolutions.
Government spending and increased debt has been taken on by all countries and to in part pay for that taxes will rise everywhere. Deficits will hit records as far as the eye can see. You canâ€™t have massive spending, massive debt and massive tax increases and expect to have growth. It is impossible.
Thus far government has been able to paper over the systemic meltdown in the financial area. They still havenâ€™t dealt with off balance sheet and derivative losses. Even with the trillions poured into these entities it has not been enough to solve their problems and over the next few years that will become obvious.
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Date: June 30th, 2009
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