U.S. Economy Progressing to Worse Recession and Inflation
April 05, 2008
Everyone keeps asking, “Are we in a recession?” but few actually state the answer. The media and our U.S. leaders just keep dancing around the issue. But look at the facts: the last year home prices fell the way they are today was 1941 -- the year the United States entered World War II.
Unscrupulous, predatory lenders and the creation of the subprime market have created a downward spiral that threatens to swallow many Americans whole.
Entire U.S. cities are being devastated by the predatory lending practices facilitated by Wall Street. It is no longer just inner cities or low-income families being affected. Everyone, from the poor to the wealthy, is being hit by this crisis.
Many U.S. economists are convinced that a recession is inevitable, as the mortgage crisis is FAR from having peaked. In fact, it is still in its infancy. And in this interview, Jim Rogers, the CEO of Rogers Holdings, explains how current government policies will cause even greater inflation and a massive recession.
I agree with Rogers, most likely the situation will get far worse before it gets better.
If you still believe that the dollar is strong and the United States is destined to be an eternal superpower, think again. After watching this video, and the must-see videos in the related articles below, I’m sure you’ll have a far more realistic view of the U.S. situation.