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John Williams: World Class Crash Coming No Matter What

  • John Williams: World Class Crash Coming No Matter What
    by Greg Hunter’s  (Early Sunday Release) 
    Economist John Williams says don’t believe the hype about the U.S. economy being good—it’s not. Williams explains, “I love America, but we are in a deepening recession.  The economy collapsed into 2009 . . . we never really recovered from that.  We had a few bounces higher, but generally, we went into low level stagnation, and now it’s turning down again.  We just had a revision to the benchmark GDP (1.2%) and the numbers are nonsense.  The numbers are a lot weaker than they appear. There’s no question we are in a recession.”

    President Obama keeps telling the public that the economy is great. Williams, who computes economic data without accounting gimmicks that make things look better than reality, says, “If that were the case, Donald Trump would not be the Republican nominee.  The voters are telling you we’ve got a problem here, and they sense it.  The average guy in Main Street USA knows what’s going on.  That’s what’s giving you such an unusual election year.  You cannot discount that.  Main Street USA knows a lot better than the bureaucrats in Washington when you are in an election year, and people might want to play with the numbers a little bit.”

    Williams says don’t expect the government to start a new round of money printing before the election. Williams explains, “Let me put it this way.  At such time it happens, and I believe it will, you will see heavy selling against the dollar which will tend to hurt stocks.  When you get massive selling against the dollar, you are going to start spiking inflation. . . . So, the dollar weakens and gasoline prices go higher.  That’s been the biggest variable in the headline inflation numbers since the panic of 2008.  You see gasoline prices rising again, and you’ve got an inflation problem again.  That will start all sorts of issues.”

    read more.


August 8, 2016 - Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , , , , , , , ,

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