In a recent interview to talk about his New York Times best-seller Aftershock, Wiedemer says, “The data is clear, 50 percent unemployment, a 90 percent stock market drop, and 100 percent annual inflation… starting in 2013.” According to them, we are on the verge of another recession, and this one will be far worse than what we experienced during the last financial crisis. Faber’s pessimism is matched by well-respected economist and investor Peter Schiff, the CEO of Euro Pacific Capital. Schiff remarks that the stock market collapse we experienced in 2008 “wasn’t the real crash. The real crash is coming.” Schiff didn’t stop there. Most alarming is his belief that daily life will get dramatically worse for U.S. citizens. “If we keep doing this policy of stimulus and growing government, it’s just going to get worse for the average American. Our standard of living is going to fall . . . People who are expecting Social Security can’t get all that money. People expecting government pensions can’t get all their money . . . We simply can’t afford to pay them.” Equally critical of the current government and our nation’s economy is real estate mogul and entrepreneur Donald Trump, who is warning that the United States could soon become a large-scale Spain or Greece, teetering on the edge of financial ruin. Read Latest Breaking News from Newsmax
Posted on: Mon, 08 Jul 2013 21:20:50 +0000
Trending Topics
Recently Viewed Topics
© 2015