Even Donald Trump Is Warning That An Economic Collapse Is Coming
In a shocking new interview, Donald Trump has gone farther than he ever has before in discussing a potential economic collapse in America. Using phrases such as "you’re going to pay $25 for a loaf of bread pretty soon" and "we could end up being another Egypt", Trump explained to Newsmax that he is incredibly concerned about the direction our economy is headed. Whatever you may think of Donald Trump on a personal level, it is undeniable that he has been extremely successful in business. As one of the most prominent businessmen in America, he is absolutely horrified about what is happening to this nation. In fact, he is so disturbed about the direction that this country is heading that he is seriously considering running for president in 2012. But whether he decides to run in 2012 or not, what Trump is now saying about the U.S. economy should be a huge wake up call for all of us.
Trump says that the U.S. government is broke, that all of our jobs are being shipped overseas, that other nations are heavily taking advantage of us and that the value of the U.S. dollar is being destroyed. The following interview with Trump was originally posted on Newsmax and it is really worth watching....
The following are 12 key quotes that were pulled out of Trump's new interview along with some facts and statistics that show that what Trump is saying is really happening.
#1 "If oil prices are allowed to inflate and keep inflating, if the dollar keeps going down in value, I think there’s a very distinct possibility that things could get worse."
Donald Trump is exactly right - we are headed for big trouble if we continue to allow the Federal Reserve to pump hundreds of billions of new dollars into the system. As I have written about previously, all of this new money will give us the illusion of short-term economic growth and it will pump up the stock market, but in the end all of the inflation the new money is gong to cause is going to be very painful. Just look at how rapidly M1 has been skyrocketing over the last couple of years. Is there any way that we are going to be able to avoid paying a very serious price for all of this reckless money printing?....
Already all of this money printing has had a very serious affect on world financial markets. The price of agricultural commodities is skyrocketing and the price of oil has almost reached $100 a barrel once again. The last time that the price of oil soared above $100 a barrel was in the early part of 2008, and we all remember the horrific financial collapse that followed in the fall of 2008.
#2 "....you’re going to pay $25 for a loaf of bread pretty soon. Look at what’s happening with our food prices. They’re going through the roof. We could end up being another Egypt. You could have riots in our streets also."
The price of corn has risen 88 percent over the past year and the price of wheat has soared a whopping 114 percent over the past year. Let's hope that we don't have to pay $25 for a loaf of bread in the United States any time soon, but in some areas of the world that is what it now feels like.
Approximately 3 billion people in the world today live on the equivalent of $2 a day or less, and most of that money ends up getting spent on food. When food prices go up 10 or 20 percent in deeply impoverished areas of the globe, suddenly the lives of millions are threatened. The riots that we have seen in Egypt, Algeria, Tunisia and other nations recently were not entirely caused by rising food prices, but they were certainly a big factor.
#3 "I think gold will go up as long as people don’t have confidence in our president and our country. And they don’t have confidence in our president."
Investors run to gold and other precious metals when they don't feel secure. We saw that happen a lot in 2010. As confidence in the paper currencies and the financial systems of the world has rapidly diminished, precious metals have become increasingly attractive.
In fact, the price of gold has doubled since the beginning of the economic downturn in 2007. As the global financial situation continues to become more unstable, the demand for precious metals is likely only going to become more intense.
#4 "The banks have really let us down. Number one, they did some bad things and caused some bad problems. Number two, if you have something that you want to buy, like a house, they’re generally not there for you."
Banks were given massive bailouts with the understanding that they would open up the vaults and start lending money to average Americans again.
Well, that has not happened.
In particular, it has become much, much harder to get a mortgage in the United States today. Not that the big banks didn't need to make changes to their lending practices, but things have gotten so tight now that it is choking the real estate market to death.
#5 "I see $3.50 for a gallon of gas for cars, and cars are lined up trying to get it and it’s $3.50. It’s a shame, a ridiculous shame."
Our lack of a cohesive energy policy is a national disgrace. There is no way in the world that a gallon of gas should be $3.50 a gallon.
The U.S. has massive reserves of oil and natural gas that it should be using. In addition, the lack of progress on developing alternative energy sources in light of our sickening dependence on foreign oil is very puzzling. We should be very far along towards solving our energy problems by this point.
Meanwhile, we keep pouring billions into the pockets of foreign oil barons every single month. Unfortunately, Trump was exactly correct in the interview - if something is not done the price of gas is going to keep going higher.
Read the rest here:
http://theeconomiccollapseblog.com/archives/even-donald-trump-is-warning-that-an-economic-collapse-is-coming
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