Economist: ‘This is Far From Over… They Know There Is a Problem Coming’

Well known Shadow Stats economist John Williams has warned time and again that the narrative being crafted by government statisticians, elite bankers and politicians is nothing but smoke and mirrors. With an election coming up in just a couple months, it’s highly unlikely that they’ll come out and tell us right now how fundamentally troubled our financial, economic and monetary systems really are.
But that doesn’t change the facts. The reality, as Williams notes in a recent interview with Greg Hunter’s USA Watchdog, is that the U. S. economy is in severe trouble and we may be just months away from the beginning of the next leg down, especially for the U. S. Dollar.
If we were to go back to the levels before the recession, we would need at least 11 million new jobs. That’s 11 million more than we have now. . . . We are in serious trouble here.

One of the best indicators is how people on Main Street, USA feel.
I found that those who live in the real world have a pretty good sense of what’s really going on.
If you don’t believe in the numbers coming out of the government, you’re probably right.
Over time… actual experience that trumps the romanticized numbers they’ve put together and we’re not seeing a recovery here. [We] haven’t had a recovery… the economy plunged into 2009… we had a financial panic… none of the issues have been resolved.
The economy has bottomed out. The banks are still in trouble. This is far from over.


This post was published at shtfplan on September 3rd, 2014.

Jim Rickards: 2014 Expectations

In this audio clip from Physical Gold Fund, James Rickards of Tangent Capital talks about the Fed’s alternatives in 2014 and how they may carry out their tapering plans.  Rickards reviews the Fed’s actions, and how they’ve been unable to attain their specific goals, the forces of deflation versus inflation, as well as affects of nominal GDP growth in lieu of real GDP growth.  He also discusses gold and gives some interesting comments regarding why he holds it, how much of it should be a part of any investment portfolio, and its current trading environment  (specifically, that the current set-up could yield a major short-squeeze opportunity).  Listen to mp3 audio.

And in the following Bloomberg interview, Rickards talks more about gold and how even though 2013 has seen a bad year for the metal in paper terms, there is still major demand for obtaining gold in physical form.  Physical gold has been leaving the GLD ETF and going straight to China.  That the central banks have to drain the ETF in order to get the physical metal shows that there is very little of the stuff available elsewhere.  This is a must watch interview with James Rickards.