“The US is really in the worst condition of any major economy or country in the world,” says ShadowStats Editor John Williams. In the following interview with The Gold Report, John concludes the nation is in the midst of a multiple-dip recession and headed for hyperinflation.
The Gold Report: Standard & Poor’s (S&P) has given a warning to the US government that it may downgrade its rating by 2013 if nothing is done to address the debt and deficit. What’s the real impact of this announcement?
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The Once and Future Dips of the US Economy
Last week, it looked as though a tide might have turned. The Dow fell another 97 points on Friday. And the 10-year US Treasury note rose to yield less than 3%.
What will happen next? We don’t know. But it wouldn’t be a bad thing if investors took a beating. At least, the rest of the country would probably like to watch.
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