JOHN WILLIAMS: NEW RECESSION IN 2013, OPEN ENDED QE WILL LEAD TO HYPERINFLATION
DECEMBER 21, 2012
Economist John Williams thinks the economy is in worse shape than most people think. In 2013, Williams predicts, âAs this goes forward, youâre going to see weâre going to be in a new recession.â The Federal Reserve announced last week it is now printing a total of $85 billion every month to reduce unemployment and stimulate the economy. Williams says, âThatâs nonsense. . . . Thereâs nothing they can do to stimulate the economy.â Williams has long contended the Fed is really just using the weak economy to continue to prop up the banking system. Williams says, âIf the Fed wasnât doing what itâs doing . . . Iâd presume youâd be on the road to a banking system collapse. The banking system is still in trouble.â Williams warns the âopen-endedâ printing of $85 billion a month â. . . will be part of what will eventually become hyperinflation.â And if there is no deal on the so-called âfiscal cliff,â then Williams expects âheavy selling pressure on the U.S. dollar.â Join Greg Hunter as he goes One-on-One with John Williams.