David Morgan: Hardships Across The Board Will “Test Us In A Way We Haven’t Been Tested In A Very Long Time”
Major financial research firms like JP Morgan are already warning that there is a high probability of a recession. But what’s coming could be even worse than most predict or care to even imagine. Given the state of our national finances and the literal tens of millions of Americans living on food stamps and other government-sponsored social programs, it should be evident that the system as it exists today is unsustainable.
“You cannot sustain an economy by consuming more than half you save forever,” says David Morgan of Silver Investor in an interview with Crush the Street.
Morgan says that unlike The Great depression when Americans were more self reliant and capable of sustaining themselves both physically and mentally, we have such a large portion of our population dependent on the government to provide essential goods and services that when the system can no longer handle it people will face hardships like never before:
They had enough human ability to withstand hardship with a mental and physical attitude that very few of us possess these days… and when that attitude is tested just a little bit people seem to cave pretty easily.
…
I think that what’s going to take place is some hardships across the board -regardless of how much money you have – that is going to test us in a way we haven’t been tested in a very long time…
Watch the full interview (via Youtube):
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