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23 August, 2010

U.S. Financial Meltdown or Is A Complete Financial Armageddon Coming?

US Financial Meltdown or Is A Complete Financial Armageddon Coming? | Greg Hunter’s USAWatchdog: "A little more than two years ago, economist John Williams of shadowstats.com predicted a 'severe recession' was coming and soon... Most so-called experts, at the time, did not see the financial meltdown coming, let alone that all the banks were in trouble. Williams’ assessment of the economy was spot on in 2008...

... Williams also predicted 2 years ago we would have a 'hyperinflationary depression' within 10 years. Then, about a year ago, he revised his prediction and narrowed the window to 'five years.' The day before last Friday’s dismal jobs report, Williams said, '. . . the timing of the looming U.S. financial Armageddon is coming into better focus, with increasingly high risk of it breaking within the next six months to a year'...

... I called Williams to see why the odds of calamity have accelerated. He told me on the phone last night, 'What is happening now to bring the timing into focus is the economy IS turning down. It is no longer the perspective the economy is going to turn down. That, in turn, will eventually trigger all the problems with the dollar, the debt and the deficit.'

For confirmation the economy is rolling over, look no further than the awful jobs report from the government last Friday..."


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