Former Assistant Treasury Secretary and economist Dr. Paul Craig Roberts says there is another financial calamity coming to the U.S. Dr. Roberts says, “It is a crisis they can’t avoid. One way or another it’s going to bite very hard, whether it comes through the dollar or the bonds.” Dr. Roberts says all the ongoing financial problems we face today are a result of little or no regulation.
Dr. Roberts makes his case in a book titled “The Failure of Laissez Faire Capitalism and Economic Dissolution of the West”. Dr. Roberts contends, “What you are looking at is a deregulated financial system, and the result was fraud, crisis and collapse. . . . The end result of financial deregulation is crony capitalism.”
Look no further than the continuing bank bailouts with massive money printing and zero percent interest rates as the reason for the coming catastrophe of spiking interest rates. Roberts asks, “How can the dollar be anything but a bubble because the Fed is creating a trillion new dollars every year, but the demand for dollars is not growing by a trillion dollars a year.” Roberts goes on to predict, “Sooner or later, the printing has to affect the dollar’s value. If the dollar drops . . . we have inflation . . . you can’t have inflation and zero percent interest rates.” Join Greg Hunter as he goes One-on-One with economist Paul Craig Roberts.