Skip to comments.Rupert Murdoch predicts global economic crash
Posted on 05/01/2012 9:33:08 AM PDT by Para-Ord.45
Governments worldwide have borrowed 100 trillion last ten years. Defaults inevitable sometime soon. Means crash, hurting rich and poor.
Rupert Murdoch (@rupertmurdoch) May 01, 2012 The business mogul and Newscorp head gave a dire outlook for the worlds economic future. With the worlds debt crisis coming to a head will we see a massive crash? This billionaire sure seems to think so.
And if Murdoch starts cutting loose and telling the truth too much, I bet the stress of his recent troubles will be enough to Breibart him.
Gee! We’ve been borrowing money to hand out to the least productive members of society for fifty years. We teach our children that society’s producers are evil because they won’t ‘share’ with those who are too good to work. We resent anyone who has more than we do. And we don’t understand that we cannot afford to do everything we would like to do.
How could these practices fail?
The government has it’s hands completely tied.
The Fed (quasi-NGO, I know) *should* be raising interest rates right now, but CAN’T. If it does, the interest payments on the debt skyrocket and our deficit becomes completely unmanageable in a VERY short period of time. But there is very low foreign interest in our debt. So the Fed buys it (via a shell game, since it can’t do it directly) with printed money. We monetize but can’t increase interest rates.
We’re STUCK. Out of options. There is only one way this ultimately gets resolved, historically. War. Because someone is going to be left holding the bag, and they aren’t going to be happy.
Murdoch is right.
Iran, in October of 2012.
Last year over 60% of federal debt was “bought” by the fed, very very bad news for our dollar. If OPEC ever stops accepting dollars for oil we crash and I mean crash big time, 5 minutes later.
And he won't be the last to predict an economic crash, so many are predicting a crash. Now if only all these great Oracles would spit it out and say WHEN!
I want to know when. Q4 2012?, 2015? 2033? 2157?