Collapse in Credit Coming -Chris Martenson & Greg Hunter Video
By Greg Hunter’s USAWatchdog.com
Co-founder of Peak Prosperity and economic researcher Dr. Chris Martenson warns the next financial collapse will start with a default in the credit markets. Dr. Martenson explains, “Demand is down. Supply is down. That’s the underlying story. We think the first part of this story is thesecredit instruments will get wiped out. It could be a sovereign default. Who’s first? That is the question in the world. Is it going to Venezuela? Is it going to be Brazil? Could it be Turkey? Interesting story about Turkey with the downed Russian jet. We just don’t know. If we have a big sovereign default in one of these countries, that could be the trigger. Maybe it’s a company like Glencore that would be a repeat of Lehman. We just don’t know, but we do know there is going to be a collapse in the credit, and then we will have the next stage of this where the central banks freak out one more time and pour more money into the markets. We believe, this time, money will be given to people like you and me. . . . Once the Federal Reserve sends you and me money, whether it’s a tax rebate or check, it doesn’t matter. You should run, not walk, and buy anything you possibly can with that because that is the next stage of this story. Stage one is collapse.”
Can’t this go on as long as the Fed prints money? Martenson says, “The way we have constructed the economy is unsustainable. Everybody knows that. You can’t grow infinitely on a finite planet. Look at the debt. We have added $57 trillion of new debt to the world since the crisis in 2007–$57 trillion. How much has the global economy grown in that span of time? The answer is about one-fifth as much. Anybody knows you can’t grow your debt faster than you are growing your income. That’s the system we are trying to sustain. We don’t think it’s sustainable, which is why we say people need to begin preparing, but we think there is a way to prosper too. Everything we see now is confirming that we are at the beginning of a very long period of very disruptive adjustments.”
On the unsustainability of ever expanding debt, Dr. Martenson contends, “The United States has doubled and redoubled its debt and gone through five doublings of our debt in four decades. If we want the next two decades to look like anything like the last two decades, we are going to have to see not one, but at least two doublings of our debt. Really? How are we going to create more debt by a full doubling? The answer is–we won’t.”
Join Greg Hunter as he goes One-on-One with Dr. Chris Martenson of PeakProsperity.com and co-author of the new book “Prosper! How to Prepare for the Future and Create a World Worth Inheriting.”
(There is much more in the video interview.)
After the Interview:
There is free information and articles on PeakProsperity.com. You can also find the book buying link on the top right hand side of the home page.
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http://usawatchdog.com/collapse-in-credit-coming-chris-martenson/
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