by Greg Hunter, USA Watchdog:
Analyst, financial writer and professional trader Rick Ackerman is forecasting a “deflationary end” to our debt-bloated financial system. Ackerman contends, “I think everybody agrees we have more debt than we can ever repay. So, it’s going to have to be repaid one way or another. The debt has to be discharged. Every penny of every debt has to be paid, if not by the borrower, by the lender. Hyperinflation would let borrowers skip free. . . . The powers that be are not going to go for that. The lenders are going to be in charge. This is why I said all of the mortgage contracts will come to resemble leases. This is so the lenders don’t wind up evicting 110 million Americans from their homes. . . . Things have gotten far crazier than I could have imagined a decade ago when I was forecasting a deflationary end.”
Precious metals expert and financial writer Bill Holter says there is a long list of financial trouble coming to America sooner than later. There is the commercial real estate implosion, rising interest rates, an exploding federal budget, banana republic political problems, but the at the top of the list is the monster unpayable debt problem and the soon-to-be failing U.S. dollar. Holter says, “You can’t have a third of the federal taxes paid out in interest, and that number is only going to grow over time. . . . If the markets would not collapse ahead of time, which they certainly will, but if they did not, we would get to the point where the interest would eat up all the tax receipts. That is a mathematical impossibility. We’re broke. On the other side of it, we have two rules of law. We have one rule of law if you are a liar from the left and another rule of law if you are a conservative and you don’t support the bull crap rules they are putting out there. . . . This is an illustration that this country has already become a banana republic. The problem with that is the dollar issued by this country is the world’s reserve currency. It’s a huge problem.”
Residents are fleeing the Democratic-controlled city, many of them heading for Republican lands Robert Bridge is an American writer and journalist. He is the author of ‘Midnight in the American Empire,’ How Corporations and Their Political Servants are Destroying the American Dream.Robert Bridge is an American writer and journalist. He is the author of ‘Midnight in the American Empire,’ How Corporations and Their Political Servants are Destroying the American Dream.@Robert_BridgeFILE PHOTO: A homeless man sleeps on the sidewalk in San Francisco, California © JUSTIN SULLIVAN / GETTY IMAGES NORTH AMERICA / GETTY IMAGES VIA AFP
