Spending into Oblivion-Gregory Mannarino…” Once we stop or admit we have a debt problem—implosion time.”

Monday, September 29, 2014
By Paul Martin

By Greg Hunter
USAWatchdog.com
September 29, 2014

Financial analysts/trader Gregory Mannarino says forget about the recent positive economic news. The economy is not in recovery and there is a simple way to prove it. Mannarino says, “All you need to do is look at two metrics, just two, and you can see there is no economic recovery. One of them is the money velocity. That’s the rate that cash is moving through an economy. We are at historic lows here. We also have a labor force participation rate at a three decade low. So, please explain to me how we can have a recovery without those two simple metrics.” Mannarino goes on to say, “They’re going to do things to prop this dollar up . . . with regard to bringing us to war, more spending on the military and equipment to fight this new war. This is all going to be added to GDP.”

On the fact more war is going to explode the debt and deficit, Mannarino says, “The debt doesn’t matter . . . all they are determined to do is hyper and super hyper-inflate the debt bubble because this is the foundation of our economic model. It is a debt based economic model. It demands that cash be borrowed into the system in perpetuity. It cannot stop. Once we stop or admit we have a debt problem—implosion time. They are going to look for every single excuse to borrow this cash into existence. They waited for the right time to do this new war. They waited for the beheadings to happen so they could get the American people behind spending more. This is what this is about. It’s about spending into oblivion. That’s where we are, and again, we are hyper-inflating that bubble in debt which parallels the population boom and a human bubble. In fact, it is the greatest threat to humankind period.”

On the stock market, Mannarino says, “The market is still going to go higher here . . . The European Central Bank will, without a doubt, be instituting full on Federal Reserve style quantitative easing. They’re already half way there. They are buying assets from the banks. They have negative interest rates. Does this sound familiar?” So, is this a way to counter Russia cutting gas supplies and raising prices by simply printing money? Mannarino says, “Without any doubt, this is exactly what they are going to do. They are not going to allow the economy to falter. Mario Draghi came out and said he will do whatever it takes. This is what they are going to do over there, and that’s what is going to push the markets higher.”

It’s all about propping up the western economy, and Mannarino goes on to say, “War is part of the mechanism of propping this entire thing up, and it’s going to get much worse. Anyone out here has to understand what is going on here; it’s a scramble for resources. We are witnessing the decimation of the middle class. A two-tier society is being created, and it will span the globe, unfortunately. They need to push this higher to foster this wealth transfer that is going on. With negative interest rates, anyone with a savings account is being robbed here.”

What happens when the money printing stops working? Mannarino says, “War, we are going to global war. This is the next step here. It is the natural progression of where they are taking us now. This new war we have in Syria, and Iraq is going to get much, much worse here.”

Join Greg Hunter as he goes One-on-One with Gregory Mannarino of TradersChoice.net.

Leave a Reply

Happy Holidays! Revolution Radio is a 100% volunteer run site. We appreciate any holiday cheer you can spare this Christmas season. God bless!