Our incumbent President says that things are getting better, jobs are being created, and America is on the road to recovery. His opponent, Governor Mitt Romney, says the opposite, but claims he has a plan that will turn things around and bring prosperity back.
According to free market proponent Peter Schiff, it doesn’t matter who wins, because the crunch is coming – and it’s going to become apparent during the next President’s administration.
He [Mitt Romney] is not going to prevent the crisis.
We’re headed for a real economic collapse regardless of who wins this election.
The government has over-promised. There are gigantic Ponzi schemes. They do not work.
Meanwhile, the only reason the economy has not collapsed is because interest rates are artificially low. the Fed cannot keep interest rates low indefinitely, and when interest rates go up the party is over. And then we’re not going to have a choice anymore.
We’re going to have to finally deal with these problems or destroy our currency, and that is a real economic crisis that is going to make 2008 look like a walk in the park.
[The crunch] is going to happen in the next administration.
We can’t fix these problems by repealing Obamacare and cutting taxes. We have structural problems that underline the U.S. economy that are very deep that require real free market reforms, and unfortunately none of the major candidates are even talking about that right now.
Peter Schiff was ahead of the collapse of 2008, warning clients of his firm Euro Pacific Capital that global equities would crash as a result of fraud, unservicable debt levels and a failed monetary policy. After the crash he, like many others, urged Congress to address the fundamental problems within the US economy, including fiscal, monetary and economic policy reform.
He and the American citizenry were ignored as Washington not only didn’t listen, but engaged in exactly the opposite of what should have been done.
Four years on we’re worse off than ever before, with more money having been borrowed from foreign creditors and stolen by the government from taxpayers under the guise of bailing out essential financial and manufacturing sectors of the global economy.
We’re in too deep folks. At this point, it cannot be stopped.
Trillions of dollars are owed, and as a country we have no way to make good on that debt.
Confidence in the US dollar will soon be lost, and when that happens we will experience a collapse in the United States and the global economy unlike any that has ever been witnessed in the history of the world.
Historians will write about this era for centuries to come, just as they write of Rome today.
Please Spread The Word And Share This Post
Mac Slavo Views:
Read by 46,718 people Date: August 30th, 2012 Website:www.SHTFplan.com
Copyright Information: Copyright SHTFplan and Mac Slavo. This content may be freely reproduced in full or in part in digital form with full attribution to the author and a link to www.shtfplan.com. Please contact us for permission to reproduce this content in other media formats.
The content on this site is provided as general information only. The ideas expressed on this site are solely the opinions of the author(s) and do not necessarily represent the opinions of sponsors or firms affiliated with the author(s). The author may or may not have a financial interest in any company or advertiser referenced. Any action taken as a result of information, analysis, or advertisement on this site is ultimately the responsibility of the reader.
SHTFplan is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com.