continued uncertainty in global market, today a 50-year market
veteran warned King World News that the collapse is intensifying
and something terrifying is on the horizon.
Embry: “I would encourage all KWN readers and listeners to
ignore the predictable and ludicrous price action currently going on
in today’s market. And rather, go back and re-read the words
von Greyerz’s piece published on King World News this
Embry continues: “Seldom have I ever read such a succinct and
brilliant analysis of the true state of the world and the global
markets. The many people out there who have their heads buried
in the sand should take heed of Egon’s words or they are going to
be in for a very uncomfortable comeuppance.
Collapse Is Intensifying
found it incredible that the mainstream media in the United States is
attacking anyone who exposes the truth about the U.S. economy.
The U.S. economy is giving ground everywhere you look. Manufacturing
is in decline and this is only being exacerbated by the overvalued
has peaked, big box retailing is in deep trouble — witness the
large number of store closures by Walmart and Macys — railfreight
movement has been declining for over a year and foodstamp usage is at
a record. I could go on, Eric, but you get the point.
this is happening at a time when the U.S. is drowning in debt at the
government, corporate and consumer levels. The plight of the
government is well-known — $19 trillion in funded debt and
trillions more in off balance sheet liabilities, and an almost
unfathomable $100 trillion in unfunded liabilities.
at the same time, corporations have been significantly weakening
their balance sheets by using debt for share buybacks at the very
time that the economy is unraveling. And the consumer is in sad
shape, with real disposable income declining for the vast majority of
the debt-burdened population. America’s economy is most
assuredly in decline, and the carnage will be complete with the
eventual collapse of the U.S. dollar.
Governor Fischer Exposes The Ugly Truth Now,
a more realistic assessment came from former Dallas Fed Governor,
Richard Fischer, a couple of weeks ago. Much to the horror of
his interviewer, he boldly and correctly stated that the Fed had
attempted to create a wealth effect through its QE programs, and by
doing so it was hoped it would lift the real economy. He then
admitted that the ploy had essentially failed and now the populace
was left to confront overvalued markets.
Terrifying Is On The Horizon
is rare that a prominent public figure is so candid, and I have a lot
of regard for Fischer, who was one of the better Fed governors. So
the question we should ask is, ‘What motivated him to be so
frank?’ Perhaps he realizes what is on the horizon and wanted
to be one of the first public figures to issue a warning.