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Vicious Out of Control Downturn Coming – Chris Martenson
TND Videocast Spotlight: Greg Hunter’s USAWatchdog.com
Economic researcher and co-founder of Peak Prosperity, Dr. Chris Martenson, says, “Here’s where we are in the larger story. World economies can’t grow anymore, at least not like they used to. We are not going to see 3, 4 or 5 percent real growth. The pie is no longer expanding like it used to, and here’s the problem. The banking overlords got used to a certain take or lifestyle. . . . They became addicted to a certain amount of skim, and when everything is expanding, the banks can skim, and there is enough left over for things like middle class and 401ks to go up and pensions to be funded. When the economy is not growing fast enough, and the skimming continues, then there is not enough left over for other people. That’s where we are in the story. That’s step one. Step two is will the banks convert all of their loans into physical hard assets, and the answer is yes.”
The economy and banks are more debt filled than ever, and Dr. Martenson goes on to point out, “There is one thing we have a lot less of, and that’s trust. I don’t know anybody who loves these markets. Everybody is highly distrustful of them. All of the big money people that I talk with, all them have one foot right next to the exit. Everybody is convinced they will be able to get out just a little faster than the next guy. I think they are mistaken in that regard. Without that trust, and without that ability that the authorities are going to be able to contain it, I think we could see a very vicious downturn, something that gets out of control of the central planners. . . . Markets have a way of winning out in the end.”
Click here to read the rest of Greg Hunter’s write-up and to access the active comment section.
After the Interview: Most of the information on PeakProsperity.com is free. There is also a detailed subscription service that you can buy by the month, quarter or the year. The monthly subscription is $30 and the yearly is $300. To subscribe click here. Dr. Martenson is coming out with a new book about how to prosper in the coming economy. The book is due out in November, and USAWatchdog.com will have Dr. Martenson back then.
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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. 
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