warns about the signs of the times for the US. The American economic apocalypse is the day when White House would finally meet its maker---the ever demanding global financial markets. The research firm asserts that it is right upon us. It implies that soon, the situation would further go worse due to the logical zeal of investors in the country to avoid incurring more losses.
The chairman of the research company, Martin D. Weiss has detailed his warning in his book entitled 'The Great American Apocalypse.' Among the highlights of the recently published book are: a possible threefold jump in commodity prices and the supposed effects of an inappropriate money printing policy by the US Federal Reserve.
Mr. Weiss attributed the current economic turmoil in the US to the federal government's massive debts, unreasonable spending, political cowardice, and uncontrollable money printing. He even points out that an imminent depreciation of the US dollar could make matters worse. According to him, the International Monetary Fund (IMF) has already hinted plans to displace the US dollar as the reserve currency of the world.
The US dollar factor
In the past 218 years of the currency's existence, it has successfully overcome massive blows. Among those challenges are a huge civil war, a flu pandemic that shut down the American economy, the Great Depression, up to 44 economic recessions, and 10 major global wars. Now, it is about to face another difficulty and no one could assure it would keep its winning streak.
The credibility of Weiss Research
has been strongly established based on its record of successful issuance of warnings prior to some of the major economic crises that hit the US. It was the only US-based research firm that warned of a possible crash of some major businesses during the most recent economic downturn like General Motors, Citigroup, Lehman Brothers, and even government-sponsored Fannie Mae.
The research firm was also known for having had accurate predictions about some major economic occurrences in history. Among those are the failures of major insurers in the 1990s, the techno-burst of 2000, and the previous debt crisis, housing downturn, and credit collapse, which started in 2007. Thus, more economists and experts get more scared because of the firm's proven and tested credibility. That may mean that it has valid basis to warn about a possible US meltdown.
Mr. Weiss is now more particularly opposing Fed's new policy for money printing. He reminds everyone that the central bank is now into the biggest money-printing strategy since Germany's Weimar Republic, which printed too much of its currency that a single US dollar became as expensive as 3 trillion marks. He warned that too much printing of the US dollar today could push down actual worth of the currency in the same way.
The economic apocalypse, still according to Mr. Weiss, would be harsher to Americans. That is because of the possibility that energy and food prices would get non-affordable to most consumers who have lower overall standard of living. Overall, Weiss Research
reiterates that the US predicament would get all the more serious. For now, what we could actually do is to take precautions based on the warning and see how the situation could possibly go from bad to worse.
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