Bad Economy is Why Trump GOP Nominee-John Williams…”The next crash will be the greatest ever, and Williams contends, “It will certainly be a world class event that people will be talking about for centuries.”…(Help Support Revolution Radio! Thanks Glennis From Canada!)
By Greg Hunter
USAWatchdog.com
08/7/2016
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.”
Home » Market Analysis » Bad Economy is Why Trump GOP Nominee-John Williams
Bad Economy is Why Trump GOP Nominee-John Williams
By Greg Hunter On August 7, 2016 In Market Analysis No Comments
john%20williamsBy Greg Hunter’s USAWatchdog.com (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.”
The global economy is weak, and a black swan could hit anytime and take it all down. The next crash will be the greatest ever, and Williams contends, “It will certainly be a world class event that people will be talking about for centuries.”
On gold, Williams says, “I’ve been bullish on gold for as long as I have been bearish on the dollar and calling for the ultimate collapse of the dollar and hyperinflationary depression that will eventually unfold. The best hedge in that type of circumstance are the precious metals. I am talking about physical ownership of gold and silver. Personally, I prefer coins because they are liquid.”
How will you know the mother of all hyperinflations has started? Williams says, “It will hit once you start seeing the dumping of the dollar. . . . There will be massive amounts of dollars the Federal Reserve is going to have to absorb. Once you start to see a panic decline in the dollar, I’d be real cautious because it can happen quickly. You will see a decline in the dollar first, and the likely trigger for the selloff in the dollar is the move back into quantitative easing.”
So, what it the timing for what Williams says is a coming hyperinflationary depression? Williams says, “You could have a crisis at any moment. The circumstance is not stable for the economy or the global financial system or the banking system. There may be some type of banking crisis before the election that would force the Fed to move on quantitative easing (money printing). I think the Fed will try everything in their power to keep things stable until after the election. So, most likely the dollar selloff will come after the election. Once the dollar selloff starts, I think you will be seeing the stages of early hyperinflation well within a year.”
Join Greg Hunter as he goes One-on-One with economist John Williams, founder of ShadowStats.com.
Video Not Up At Posting Time…HERE
