Economic fallout will cause unrest in United States
Paul Joseph Watson
Thursday, September 22, 2011
Stock markets around the world tumbled in early trading today following the Federal Reserve’s announcement that it will proceed with a a new $400bn bond-buying plan to ward off a double-dip recession, and yet both George Soros and Nouriel Roubini say the US is already in a recession, and that it will lead to civil unrest.
The Dow Jones is expected to open 160 points lower after European markets suffered sharp drops this morning.
Although designed to prop up markets, the Fed’s announcement yesterday only heightened fears that the so-called “recovery” of the global financial system has completely stalled to a halt.
The dollar is on a rampage, behaving similarly to how it shot up in 2008 after the collapse of Lehman Brothers, while risk-based currencies are sinking.
While the media still fools people into thinking that the dreaded double-dip has yet to arrive, the reality is that central banks continually pumping the system full of hot air with round after round of quantitative easing has finally reached its limit. The bubble is about to burst.
Asked by CNBC if he believed the US risks falling into a double-dip recession, Soros said: “I think we are in it already.”
Soros added that two or three small countries in the Eurozone will default, and that the economic outlook was a “more dangerous situation” than Lehman Brothers.
New York University professor Nouriel Roubini echoed Soros’ comments, telling a conference in Johannesburg that the double-dip would prompt serious dislocation in the United States.
“As we go into another recession, there will be unrest in the US,” said Roubini.
Paul Joseph Watson is the editor and writer for Prison Planet.com. He is the author of Order Out Of Chaos. Watson is also a regular fill-in host for The Alex Jones Show.
This article was posted: Thursday, September 22, 2011 at 3:53 am