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John Williams: The Economy is in SEVERE TROUBLE — No Bank Bail-ins… INFLATION Instead

from USA Watchdog:

Economist John Williams says forget all the happy talk about the improving economy. Williams says “The economy is in severe trouble.”

Williams says, “When you see a contraction as we had in the first quarter, given all the upside biases that the government puts into the series, you know the economy is in serious trouble. The second quarter was reported at 4% (GDP). They revised it up to 4.2%. That is not much of a revision, and it is barely significant when you consider there is a margin of error plus or minus three and a half percentage points. Early numbers we have seen on the third quarter suggests that the third quarter is going to be weaker. The numbers for the second quarter . . . do not support 4% growth. There is no way that is happening.”

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5 comments to John Williams: The Economy is in SEVERE TROUBLE — No Bank Bail-ins… INFLATION Instead

  • Angel

    Contrary to what other analysts are claiming, Williams seems to think there won’t be any bank bail-ins, which would cause people to lose faith in the banks and create massive bank runs. Instead, just more money printing and bank stimulus to keep them afloat (and the end result: hyper-inflation).

    Either way, with dollar alternatives poised to take off, an abandonment and weakening of the dollar certainly won’t help matters, anyway you slice it.

  • Rodster

    No one knows if we’ll have bank bail in’s. The entire global economy has been on a suicide watch since 2008. And since the criminal banksters have been busy fucking everyone over who knows if they’re desperate enough to steal more money by bail in’s?

  • Paul T

    I think he’s right. They’d rather cause more inflation and lie about it than cut the tree down and upset the hornets nest. people will SW prices rising and blame everything but the banks for a while because people just don’t understand currency printing or banking in general. So that will buy the bankers a little more time to fuck us. I say, just have some silver coins stacked, along with some food and necessitites and try and wrap your mind around what’s about to happen and just deal with it because that’s all we can do at this point.

  • That1Guy

    What if John is right and wrong?


    There wont be bail-ins, perhaps there is a cyber attack? Say 10 trillion uninsured excluded deposits are “vaporized” as a response the depositors unsecured loans are evaporated. In order to reconstitute and make whole the deposits the FED is instructed by the BIS to cover the “missing” currency with freshly printed fiat. The end result is the people get their money back less 50% of the purchasing power. Different experiment, same result as a 50% bail in.

    In my opinion, this is when they blame Russia.

    Hey is that a Russian hacker with a cyber attack ray over there? He robbed you…lets get him.

    Either way its not deflationary for real NON FINANCED necessities. Things like cars and homes will go down as rates raise attempting to draw additional investment. Side note..investment of what they are all fiat. While financed assets appear to be deflationary indicators, food, energy, water, bullets..everything real starts the crack up boom. Hyperinflation.

    Thats my thought on this.

    Happy Labor Day SGT!


    • Angel

      I also had discussed this very scenario with someone, as I had heard the recent DABHOO7 clip discussing a likely (imminent?) cyber-attack on the banks. Both he and Williams might be correct.

      Then they blame Russia or Russia/China, or ISIS.

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