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