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Spending into Oblivion – Gregory Mannarino

Wednesday, October 8, 2014 9:45

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(Before It's News)

TND Videocast Spotlight: Greg Hunter’s USAWatchdog |

Greg Mannarino

Financial analyst/trader Gregory Mannarino says forget about the recent positive economic news. The economy is not in recovery and there is a simple way to prove it. Mannarino says, “All you need to do is look at two metrics, just two, and you can see there is no economic recovery. One of them is the money velocity. That’s the rate that cash is moving through an economy. We are at historic lows here. We also have a labor force participation rate at a three decade low. So, please explain to me how we can have a recovery without those two simple metrics.” Mannarino goes on to say, “They’re going to do things to prop this dollar up . . . with regard to bringing us to war, more spending on the military and equipment to fight this new war. This is all going to be added to GDP.”

On the fact more war is going to explode the debt and deficit, Mannarino says, “The debt doesn’t matter . . . all they are determined to do is hyper and super hyper-inflate the debt bubble because this is the foundation of our economic model. It is a debt based economic model. It demands that cash be borrowed into the system in perpetuity. It cannot stop. Once we stop or admit we have a debt problem—implosion time. They are going to look for every single excuse to borrow this cash into existence. They waited for the right time to do this new war. They waited for the beheadings to happen so they could get the American people behind spending more. This is what this is about. It’s about spending into oblivion. That’s where we are, and again, we are hyper-inflating that bubble in debt which parallels the population boom and a human bubble. In fact, it is the greatest threat to humankind period.”

Click here to read the rest of Greg Hunter’s write-up and to access the active comment section.

After the Interview:

Mannarino is a prolific writer. If you want to read his latest posts, please click here. He also gives free analysis and stock trades at TradersChoice.net.

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About Greg Hunter:

Mr. Hunter is the producer and creator of Greg Hunter’s USAWatchdog.com. The site’s slogan is “analyzing the news to give you a clear picture of what’s really going on.” The site will keep an eye on the government, your financial interests and cut through the media spin. Greg Hunter’s USAWatchdog.com is neither Democrat nor Republican, Liberal or Conservative. Before creating and producing the site, Greg spent nearly 9 years as a network and investigative correspondent. He worked for ABC News and Good Morning America for nearly 6 years. Most recently, Greg worked for CNN for shows such as Paula Zahn Now, American Morning and various CNN business shows. Greg encurages feedback and welcomes comments. You may also support USAWatchdog.com by clicking here to donate. Reprinted with permission.