Greg Hunter – Legendary financial and geopolitical cycle analyst Martin Armstrong has new data on how well the Biden economy is doing. Spoiler alert: It’s not doing well, and the financial system is about to tank. I asked Armstrong if the US government could default on its debt if countries around the world continue to stop buying it?
Armstrong explained, “I think the US could default on its debt as early as 2025, but probably in 2027. We have kicked the can down the road as far as we can go. It’s not just in the United States. Europe is in the same boat. So is Japan. This is why they need war. They think by going into war, that’s the excuse to default on the debt.
They simply will not pay China. If they try to sell their debt–good luck. We are not redeeming it. The same thing is happening in Europe. So, once that happens, you go into war, and that is their excuse on this whole debt thing to collapse, which wipes out pensions etc. Then they can blame Putin.
This is the same thing Biden was doing before saying this was Putin’s inflation. Then, with the whole CBDC thing (central bank digital currency) . . . . the IMF has already completed its digital coin, and they want that to replace the dollar as the reserve currency for the world. . . . These people are desperately just trying to hang on to power. Nobody wants to give it up, and nobody wants to reform.”
I asked Armstrong what should the common person be doing now? Armstrong surprisingly said, “I think you need, safely, two years’ worth of food supply. . . .This is what I have. It’s not just prices will go up, but mainly because there will be shortages. Then, you do not know what they are going to do with the currency. . . . They will do whatever they have to do to survive. That’s what governments always do.”
Armstrong says his most recent data suggests that government approval ratings in the USA are worse that Biden’s 8% approval rating. Congress, according to Armstrong, is dragging the bottom with a 7% approval rating.
Armstrong has long said that people will buy gold and silver when faith in government crashes. That is exactly what Armstrong is seeing around the world today. Gold is bouncing around the $2,300 level, and Armstrong sees “a new gold and silver rally coming soon.”
War is also coming sooner than later with the announcement that Ukraine will be joining NATO as early as July. When the next war starts, Armstrong warns, “You are going to have to watch the bank because long term interest rates are going to go up. Nobody wants to buy government debt, and you are going to have to hunker down at that stage in the game.”
Armstrong is also predicting a big turn on or about May 7th of next week. Armstrong predicts a recession will start then and go on until 2028. GDP will continue to fall, and inflation will continue to rise. Armstrong says it is the perfect storm for a dreaded “stagflation economy.”
There is much more in the 54-minute interview.
Join Greg Hunter of USAWatchdog.com as he goes One-on-One with Martin Armstrong, who will preview his “Mid-Year Seminar” in London May 24 & 25 for 5.4.24.
SF Source USA Watchdog May 2024
I understand the super low approval of our Congress because they continue to behave like fools. They borrow and spend like crazy because they have promised much more than can be delivered without booming the debt. But, everyone I know has said the country is bankrupt and has been for years. If we look at the USA as a business, it has never been profitable…never. The design is a losing proposition and cannot even function as a non-profit organization.
The only income that is significant is from taxation and the tax payer is not the people, it is business that employs the people. So, our future success has little to do with our government. We the People need to get our facts straight and get our personal approval rating into the 90% range where it belongs. We will bring the country back whether the government defaults or not. In fact, the default may well be just what we need to see how politicians have screwed things up over the years. They have done it the whole way by picking our pockets with taxing, over spending, and inflating out currency.
The end is near is the best news I have heard lately. Let’s get on with it! However, I do not agree that this needs to be a catastrophe. We just need to keep doing our jobs and let the rest of the world figure out how to deal without our dollars and our Un-dollars called our debt. If they complain, tell them to contact Washington. It ain’t our problem. We are bankrupt!
Meanwhile we just keep getting up and going to work. Our work is what made America great in the first place and it is still making it great today.
Much thanks for this share!
Jim Schout’s comments should be Front Page . . . a logical and positively oriented approach
toward addressing the boon-doggle that ‘Officials’ have let loose upon the populace of this great Nation.