Big Time Crash

Paul Craig Roberts was Assistant Treasury Secretary in the Reagan Administration, and he warns, “America is going to crash big time.”  Dr. Roberts says, “The real problem is not the fiscal cliff.”  The dollar is on very thin ice.  Dr. Roberts says, “They can’t stop hemorrhaging the debt, and the way they cover that is to hemorrhage the dollar.”  In this real time scenario, Dr. Roberts goes on to say, “When you have debt pouring out and dollars pouring out, the dollar can’t keep its value forever.  At some point, people will run away from it, and it will start abroad.”  Dr. Roberts thinks there is “an impending collapse of the exchange value,” and the U.S. dollar could unexpectedly plunge in buying power.  Dr. Roberts contends, “All of a sudden, people walk into Walmart, as usual, and they think they’ve walked into Neiman Marcus.”…


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