2/3 of America to Lose Everything

2/3 of America to Lose Everything

Posted in the Richvale Forum


Hidden Valley Lake, CA

#1 May 11, 2013
"The crisis is imminent," Schiff said. "I don't think Obama is going to finish his second term without the bottom dropping out. And stock market investors are oblivious to the problems."

"We're broke, Schiff added. "We owe trillions. Look at our budget deficit; look at the debt to GDP ratio, the unfunded liabilities. If we were in the Eurozone, they would kick us out."

"It's not that the stock market is gaining value... it's that our money is losing value. And so if you have a debased currency... a devalued currency, the price of everything goes up. Stocks are no exception," he said.

"The Fed knows that the U.S. economy is not recovering," he noted. "It simply is being kept from collapse by artificially low interest rates and quantitative easing. As that support goes, the economy will implode."

The Infantile left Winged

United States

#2 May 12, 2013
Jim Rogers to Moneynews:‘We Should Be Terrified’ Because Fed Tactics 'Going to End Badly'
The Federal Reserve’s massive easing campaign will produce a crisis for the economy, says famed investor Jim Rogers.

“The central bank has been printing staggering amounts of money, and the government has been spending a lot of money because they wanted Mr. Obama to get re-elected,” he tells Newsmax TV in an exclusive interview.“That's still spilling over into the economy.”

“Fed Chairman Ben Bernanke has said he's going to keep doing this until 2014 or 2015. The man doesn't know anything about economics. He doesn't understand finance or currencies. All he understands is printing money.”

Rogers doesn’t buy President Barack Obama’s claim that the economy has improved over the last three years.“Do you believe the government?” Rogers asks rhetorically.“If you are going to believe the government you are going to go bankrupt.”

All governments lie — Democrat and Republican, domestic and foreign, he notes.“We're in worse shape than we were before Obama,” Rogers adds.

Read Latest Breaking News from Newsmax.com http://www.moneynews.com/StreetTalk/Jim-Roger...
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