Former managing partner of PricewaterhouseCoopers: “Our Economy Is About to Implode”
It really is only a matter of time:
For the United States, and the world economy, the Ides will be around March 4 this year, predicted Grady Means in October 2012.
Mr. Means isn’t a doomsayer who’s predicted 11 of the last two recessions. He isn’t trying to sell gold, silver or freeze-dried food. He was managing partner of PricewaterhouseCoopers LLP, an assistant to Vice President Nelson Rockefeller and wrote well-regarded books on international finance.
And he isn’t alone in issuing warnings.
“We expect the bottom to fall out by the second quarter of 2014,” Trends Research Institute founder Gerald Celente predicted last October.
Because the dollar is the world’s reserve currency, America is, in effect, the real world bank. Soon there’ll be a run on it, though, because our massive deficits have eroded foreign investors’ faith in the safety of the dollar, Mr. Means said.
The run on the bank “will start suddenly, build quickly and snowball,” Mr. Means said. “Interest rates will skyrocket, businesses will fail, unemployment will go to record levels.”
It will start when we add “another trillion dollars or so” to our debt, Mr. Means wrote in The Washington Times Oct. 25, 2012. The national debt – $16.3 trillion when he wrote those words – is $17.3 trillion now.
Food and bullets.
That’s the next currency.
Do you have enough of both? : Either?
Duane Lester is co-founder of All American Blogger, and the primary writer. Following graduation, Duane entered the United States Navy as a journalist. He spent five years touring the world, reporting on local news and sports. Following his enlistment, Duane spent almost 10 years working with adjudicated youth in residential treatment environments. Duane discovered politics after September 11. He credits Erich "Mancow" Muller for opening his eyes to his conservative beliefs. Since then, Duane has devoured books and literature on politics, reading everything he can from Adam Smith to Larry Elder to Thomas Sowell. He refers to his style of politics as "conserva-tarian", a mixture of conservative and libertarian beliefs.