Peter Schiff and Reagan Advisor: Complete Economic Collapse Immediately Ahead

With all the news that’s come out over the last year, it boggles the mind that there are still those who are in denial of what is coming to toward the U.S. economy. Right now a tsunami of biblical proportions is cresting, and when it breaks, you better be ready to run for the hills.

In the video below, as always, Peter Schiff under complicates the whole economic forecast. If more people would follow his lead, and leave their Ivy league educations in their trunk, we’d have a lot more Americans preparing their families for what is coming. Instead, one of two things is happening here: Television pundits know damn well that a financial storm the likes of which this country has never seen is coming, but they also know that if they start screaming the sky is falling like an honest player would, first people will start liquidating, then they’ll stop watching, and finally the pundit will end up losing their sponsors. In other words, there is very little incentive for the pundit to be honest, even if they DO know what is going on. The other scenario is that half these Keynesian economists out there really don’t have any clue, and that’s scary.

Peter breaks it down REAL simple. Remember 2008? Sure, Alan Greenspan lowered rates to 1% for a while, but the Fed didn’t keep rates at ZERO for SEVEN YEARS back then, not to mention there have been three rounds of quantitative easing throughout this crisis, and look at how much damage was done in 2008! This time around, the Fed has played MUCH faster, and MUCH loser with monetary policy than it did in 2008, so common sense should dictate that the crash is going to be MUCH worse! Sadly, for so many people, they keep drinking the Kool-Aid.

The second thing that Peter talks about is how even the little money that IS flowing out there in the economy, is not even going toward things like capital investments. Without capital investments, there is no chance the economy is going to grow. Reports say that right now, the average age of our corporate plants and equipment is the oldest its been in over 67 years. That’s awful! Because of Obama’s policies, rather than investing in growth, companies are borrowing money for things like share buy-backs, which certainly doesn’t’ help the average working person… the one Obama purports to be helping. It’s lunacy. As the interview moves along, Peter give his predictions for Gold, as well as foreign investments, but be forewarned: The outlook is NOT good. The negative sentiments are echoed very loudly below by David Stockman, who served as the Director of the Office of Management and Budget under President Ronald Reagan, and Michael Snyder of the Economic Collapse Blog directly below.

Also, for anyone out there who was tracking the Shemitah, and predicting a major event in September or October, in the second interview below, Jeff Berwick interviews Bo Polny of Gold2020forecast.com, who has an almost impeccable track record with financial predictions. Bo says to expect a major event this month. More on that below….