US headed for a depression AND a currency collapse

05/11/2008 § Leave a comment

 

The US headed for a depression AND a currency collapse. Americans will see their wealth wiped out as stocks and home values plunge, their cost of living soar as food and oil prices spike up, and their taxes increase as the government struggles to fund itself. To understand where the US is heading, we need to step back and take a look at the deep problems afflicting the US economy:

As it becomes obvious that consumer spending will not to pick up and that US will never be able to repay its mountain of debts, investors will begin dumping dollars. The selling of dollar holdings to transfer the money to gold or other currencies will accelerate the collapse of US assets prices. With the deflationary/dollar collapse worsening, a large part of corporate America will become insolvent.

I believe the US is on the verge of a downward spiral that will rapidly intensify into an economic collapse the likes of which has not been seen in modern economic history.

Yes indeed, I’ve been saying this for more than a year.

GET OUT WHILE YOU STILL CAN!!

Market Skeptics: US headed for a depression AND a currency collapse

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