For Americans, "Your Cost of Living will Quadruple"

News Buzzard wrote:
By 2016 the economy should be in a good place for Hillary to take over!

News Buzzard wrote:The debt ceiling was increased and Peter Schiff is an alarmist. People like that should stuff a sock in it!  

A record-breaking stock market is distorting a frightening reality: The U.S. is being eaten alive by a horrific cancer that will ultimately destroy the economy and impoverish the vast majority of its citizens.

That's according to Peter Schiff, the best-selling author and CEO of Euro Pacific Capital, who delivered his harsh warning to investors in a recent interview on Fox Business.

"I think we are heading for a worse economic crisis than we had in 2007," Schiff said. "You're going to have a collapse in the dollar...a huge spike in interest rates... and our whole economy, which is built on the foundation of cheap money, is going to topple when you pull the rug out from under it."

Schiff says that, despite "phony" signs of an economic recovery, the cancer destroying America stems from a lethal concoction of our $17.2 trillion federal debt and the Fed's never ending money printing.

Currently, Yellen and The Fed are buying $65 billion per month of Treasury and mortgage bonds and will increase or decrease this number as they see fit.

According to Schiff, this "exit strategy" is not credible and will unravel.

Eventually interest rates will rise... and when they do, Schiff says, stocks will tank and bonds dip to nothing. Massive new tax hikes will be imposed and programs and entitlements will be cut to the bone.

"The crisis is imminent," Schiff said.  "I don't think Obama is going to finish his second term without the bottom dropping out. And stock market investors are oblivious to the problems."

"We're broke, Schiff added.  "We owe trillions. Look at our budget deficit; look at the debt to GDP ratio, the unfunded liabilities. If we were in the Eurozone, they would kick us out."

Schiff points out that the market gains experienced recently, with the Dow first topping 17,000 on its way to setting record highs, are giving investors a false sense of security.  

"It's not that the stock market is gaining value... it's that our money is losing value. And so if you have a debased currency... a devalued currency, the price of everything goes up. Stocks are no exception," he said.

"The Fed knows that the U.S. economy is not recovering," he noted. "It simply is being kept from collapse by artificially low interest rates and quantitative easing. As that support goes, the economy will implode."

Should American seniors who've been paying taxes their whole lives bear the price of Washington's folly? See the shocking facts by clicking on the video.

A noted economist, Schiff has been a fierce critic of the Fed and its policies for years. And his warnings have proven to be prophetic.

In August 2006, when the Dow was hitting new highs nearly every day, Schiff said in an interview: "The United States is like the Titanic, and I'm here with the lifeboat trying to get people to leave the ship... I see a real financial crisis coming for the United States."

Just over a year later, the meltdown that became the Great Recession began, just as Schiff predicted.

He also predicted the subprime mortgage bubble burst, nearly a year before the real estate market fully crashed.

According to polls, the average American is indeed sensing danger. A recent survey found that 61% of Americans believe a catastrophe is looming - yet only 15% feel prepared for such a deeply troubling event.

News Buzzard wrote:The debt ceiling was increased and Peter Schiff is an alarmist. People like that should stuff a sock in it!  

News Buzzard wrote:So now you take a snippet from Warren Buffet that is put into an advertising campaign for some radical new money?

"On a conference call today with reporters, S&P analysts David Beers and John Chambers said that in their analysis, the “extremely difficult” political discussions in Washington over how to reduce the more than $1 trillion budget deficit carried more weight in their decision than the nation’s outstanding debt. It said the talks weren’t “consistent” with a AAA rating."

“Run from paper money.”

“worth less and less over time.”

News Buzzard wrote:
I guess you've been brainwashed by the Koch brothers, just like all of the other right wingnuts!!

Rising food, water, gas, electricity and just about everything else...

If our paychecks were increasing at the same rate as Inflation, perhaps most families would be able to weather all of this.

Unfortunately, that is not the case at all.

As I wrote about recently, median household income in the U.S. is now about 7 percent lower than it was in the year 2000 after adjusting for Inflation.

And if realistic Inflation numbers were used instead of the government-manipulated ones, it would look a lot worse than that.

Inflation is a hidden tax that all of us pay, and it is systematically eviscerating the middle class.

http://www.zerohedge.com/news/2014-06-20/inflation-only-if-you-look-food-water-gas-electricity-and-everything-else

WHL wrote:Obama wants to destroy us.

News Pigeon wrote:Oh com'on, she's just "fudging" the facts a little bit....it's not really a lie!

WHL wrote:Obama wants to destroy us.

WHL wrote:They see it health wise, lots of others see it for others reasons, for instance the poor coal miners see it that"s for sure.  Isn't he hell bent on destroying our coal industry??!!

WHL wrote:Obama wants to destroy us.

News Buzzard wrote:The kids are coming from Central America and the protocol for dealing with them was signed by President George W Bush, but I know you will add this one to your list of Obama bashing.   

We should never let the facts get in our way !