Greyerz – The Inevitable Global Crisis Is Approaching Fast

Friday, April 12, 2019
By Paul Martin
April 12, 2019

As the world edges closer to the next crisis, today the man who has become legendary for his predictions on QE and historic moves in currencies told King World News that the inevitable global crisis is approaching fast.

MMT Has Been Going On For 70 Years
April 12 (King World News) – Egon von Greyerz: MMT is the socialists dream. It officially stands for Modern Monetary Theory but a more appropriate name would be More Money Theory. Because MMT is just a fancy name to justify more money printing, more deficits and more debts. Socialists love MMT, because for a sovereign nation it justifies constantly living above your means.

This is of course nothing new for the US which has practiced MMT for soon 70 years. Not since the early 1960s has the US had a real budget surplus. Europe has had socialists governments for decades, but for the US it is a relatively new phenomenon. Alexandria Ocasio-Cortez (AOC) has now picked up the baton from Krugman, arguing that socialism and deficit spending is the solution to the US problems and the world’s.

Trump, who normally is as far from a socialist as you can get, is nevertheless applying MMT to the US economy by continuing to spend money that doesn’t exist. His tax cutting and uber-spending, combined with the imminent downturn of the US economy, will soon put the US in the same category as countries like Italy. That is what is called the basket case category where default will be unavoidable.

The Rest…HERE

Comments are closed.

Join the revolution in 2018. Revolution Radio is 100% volunteer ran. Any contributions are greatly appreciated. God bless!

Follow us on Twitter