Collapse Of The Velocity Of Money Indicates Depression Dead Ahead - 06/02/14

The Wake Up Call show

Summary: The velocity of money has fallen to an all-time, record low. This means that economic activity is grinding to a halt. An all-time record one out of every eight men in their prime working years (25-54) is not in the labor force. No amount of money-printing will bring them back. Printing money is as irrelevant to the problem as creating billions of cans of baked beans. (Actually that would be more useful: you can eat the beans but you can’t eat the money). I explain why the U.S. is broke. The government is broke. “Owing the money to ourselves” is a malicious and spurious lie. All areas of government are insolvent including the Federal Reserve. U.S. debt as a percentage of GDP is getting higher and higher. The situation is desperately critical but nobody can see it because the media cover it up. Stock market report. The China question. The hypocrisy of that evil and merciless institution: the IMF.