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Catastrophic Meltdown Coming to America – No Way Out-Stock, Bond and Real Estate Markets Will Collapse – Doug Casey with Greg Hunter

Monday, May 5, 2014 6:06

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(Before It's News)

by Greg Hunter
USA Watchdog

Investor/author Doug Casey says most Americans are ill-prepared for what is coming. Casey explains, “This huge recession that started in 2007, and the bottom was 2009 and 2010, has cyclically recovered. So, people think it’s going to be happy days again, but it’s not. The way the government engineered this recovery is by creating trillions in currency units, and as we speak, they are creating $55 billion a month more by buying government bonds and mortgage securities. All of this paper money which is currently sitting in banks, at some point, is going to wash over the U.S. You’ll see very high levels of inflation. It’s going to be quite catastrophic.” Casey, who has a new video called “Meltdown America,” contends, “The standard of living for the average American has been dropping for years now. The average American can’t lay his hands on $2,000. A recent poll came out and said 40% of Americans, if they had to get $2,000 cash in 30 days, couldn’t do it. So, things are pretty strapped, and when the economy goes off the deep end again, and I think it could happen this year quite frankly, there’s going to be a lot of unemployed people, a lot of people without any money and a lot of people with a lot of debt. There is nothing the government can do at this point except print more money. The problem is all the money they are printing is coming out of a financial fire hose at the Federal Reserve. The rich guys are where the fire hose is, and the little people are just getting some dribs and drabs. This is why the country is becoming polarized, where the rich are becoming richer and the poor are becoming poorer. It’s exactly because of these government actions that are incredibly stupid. . . It’s just bailing out the rich. The prognosis is extremely grim. There’s no way out.”