We can no longer kick the can down the road.
(Right-click title to watch on YouTube) (Image source)
– Flash Points –
1 – The massive amounts of QE money-printing should concern everyone.
2 – QE has given many people a false sense of complacency.
3 – We kicked the can down the road, but have now caught up to the can.
4 – The dollar has started to tank, and it will continue to plummet.
– Synopsis –
In a recent appearance on Greg Hunter’s show “USA Watchdog,” Peter Schiff proclaimed that everyone should be more worried than they were in 2009 and 2010, when the Federal Reserve started its “quantitative easing” (QE) money-printing programs.
Can Can No Longer be Kicked
But now that the corona virus pandemic has burst the most recent bubble, we will soon feel the effects of not only the current QE-4, but also the cumulative effects of the previous QE programs.
Now that the Fed is going “all in,” said Schiff, we “have caught up to the can.” Moreover, we can be certain that the dollar “is going to tank.” That tanking dollar will lead to huge increases in consumer prices and interest rates – not to mention inflation and probably even hyper-inflation.
Deeper and Greater
Since the situation has become so horrible, and since our predicament has become so dire, Schiff believes that we will soon be in the midst of a “deeper economic contraction” – one that will be much worse than the Great Depression of the 1930s. During that downturn, prices dropped. This time, we will not be so lucky.
The CV pandemic did not cause the current collapse. The pandemic was simply the trigger and the catalyst – the pin that finally pricked the massive bubble. Even before the pandemic hit, the economy was doomed. Contrary to the frequent assertions by Prezint Drumpf that the US economy was doing well, it has actually been on the brink of collapse for years. (Image source)
The only way the economy survived was through QE and the quixotically low interest rates. It is now on its deathbed. It will not survive much longer. The hapless policies of our clueless leaders will “end in disaster.”
– Insight from Outside –
Today, we are in a situation that is much worse than when the Fed started its fast and furious “quantitative easing” (QE) money-printing programs.
All is Not Well
After the Fed started printing tons of money following the 2008 crash, Schiff and many other observers became quite concerned about the harmful effects the monetization would have.
The printing did not stop, nor did the harm. Strangely, however, the concerns and worries about the ramifications did stop. Even though the money-printing continued, even though it went out of control, and even though it reached unsustainable levels, many people nowadays seem to believe that all is well and that all will continue to be well.
Extend and Pretend
The powers-that-be essentially followed a policy of “extend and pretend.” In other words, just continue with their futile, destructive policies, and hope against all hope that things might somehow turn out well. Even though there was no chance in hell that the situation would improve.
Empire Doomed to Collapse
That insanity has continued for over 10 years now. Things have not improved, nor have they turned out well. The economy has been on life-support for years. Drumpf’s declarations about the US having “the strongest economy in the history of the universe” are nonsense.
As Egon von Greyerz once said, money-printing signifies “the last stage of an empire before it collapses.” The US economy was doomed, and now it is doomed to collapse. (Image source)