Online:
Visits:
Stories:
Profile image
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

100% Fake Economic Recovery, and Updates on Gold, Stocks and the Fed – Robert Wiedemer with Greg Hunter

Monday, February 10, 2014 6:09
% of readers think this story is Fact. Add your two cents.

(Before It's News)

by Greg Hunter
USA Watchdog

Robert Wiedemer, best-selling author of “The Aftershock Investor,” says the so-called recovery is “100 percent fake.” Wiedemer explains, “If you look at the amount our economy has grown last year, our GDP grew 2% or $350 billion, but we borrowed over $700 billion. That tells you right there that we are borrowing more than we are even growing. Our entire growth is due to government borrowing . . . it’s a fake recovery.” Wiedemer, who has totally rewritten and updated his book, goes on to say, “It would be great if we would adjust our economic figures for stimulus. What would the figures really look like if you took the fake money and borrowed money away?” It is supported heavily by printed money of over a trillion dollars last year. We’re not talking about what’s driving the recovery we are getting, and it’s powered by massive money printing and massive money borrowing. Yes, we are getting some recovery, but it is not driven by something that is sustainable.”

On the bond market, Wiedemer contends, “The only way you can keep interest rates low is to print money, and you are printing money to buy bonds. Ultimately, that’s not going to work. If printing money could do all the things they say it can do without creating inflation then . . . why don’t we get rid of taxes? We could print the money instead. The money we are printing, ultimately, will create inflation.” Overall, the bond market has turned and turned for good, and you are going to have inflation. That’s really going to be a problem for the bond market.”

Continue Reading at USAWatchdog.com…



Source: http://financialsurvivalnetwork.com/2014/02/100-fake-recovery-robert-wiedemer/?utm_source=rss&utm_medium=rss&utm_campaign=100-fake-recovery-robert-wiedemer

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.