Start the conversation
By Terry Weiss, Money Morning
The U.S. economy is in "deep, deep trouble" and nearing a point of no return.
That's according to billionaire Donald Trump speaking on Fox News. He warned investors that four more years of our current leadership puts the economy – indeed the entire country – in grave danger.
According to Trump, if things don't change soon, "we're not going to make it."
"This country is doing terribly," he said. "And I'm not sure [we] can come back if it continues."
Trump put the blame squarely on President Obama's policies of printing money and racking up debt, calling the federal deficit a federal "disaster."
"We'll be up to $17 trillion [in debt] very soon, $17 trillion. You never even heard the word trillion. It wasn't in the vocabulary. Now it's commonplace."
Regarding America's safety net -a hotly debated topic in this year's presidential election – Trump says if we continue with current policy the whole discussion of saving Medicare and Social Security will be moot.
"Medicare is not going to exist any longer… They're destroying Medicare."
While Trump presents a gloomy outlook for the U.S. economy, he's hardly alone. In fact, other less known, but even more highly regarded and influential economists warn the situation is dramatically worse than even Trump understands.
Dr. Chris Martenson, a global economic trend forecaster and former VP of a Fortune 300 company, calls the U.S. economy "a ticking time bomb ready to explode."
"The government has spent and borrowed us into oblivion by wasting our tax dollars, hard work, and loyal citizenship," Martenson said. "They've gambled our futures away."
"I expect to see the collapse of sovereign debt any time now."
Martenson and a team of economists have, in fact, been getting Trump-like attention recently.
That's because in July they appeared in a disturbing video that's since gone viral. The video shows in frightening detail how an "alarming pattern" found in systems critical to our society points to a massive economic catastrophe unlike anything ever seen.
The work of this team of scientists, economists and geopolitical analysts has garnered so much attention, they were brought in front of the United Nations, UK Parliament, and numerous Fortune 500 companies to share much of their findings. Click on the short video above to see the "alarming pattern."
And according to these expert – who have presented their findings to the United Nations, the UK Parliament and a long list of world governments – the catastrophe may happen well before Americans hit the polls in November.
"What this pattern represents is a dangerous countdown clock that's quickly approaching zero," said Keith Fitz-Gerald, the Chief Investment Strategist for the Money Map Press, who predicted the 2008 oil shock, the credit default swap crisis that helped bring about the recession, and the Greek and European fiscal catastrophe that is still wreaking havoc until this day.
"The resulting chaos is going to crush Americans."
Martenson says the "pattern" can be found in our debt, total credit market, and money supply that guarantees they're going to fail.
"This pattern is nearly the same as in any pyramid scheme, one that escalates exponentially fast before it collapses. Governments around the globe are chiefly responsible."
Dr. Kent Moors, one of the world's leading energy analysts, who advices 16 world governments on energy matters and who currently serves on two State Department task forces on energy, also voiced concerns over what he and his colleagues uncovered.
"Most frightening of all is how this exact same pattern keeps appearing in virtually every system critical to our society and way of life… food, water, energy, everything," Dr. Moors stated.
this new investigation.
"It's a pattern that's hard to see unless you understand the way a catastrophe like this gains traction," Dr. Moors says. "At first, it's almost impossible to perceive. Everything looks fine, just like in every pyramid scheme. Yet the insidious growth of the virus keeps doubling in size, over and over again – in shorter and shorter periods of time – until it hits unsustainable levels. And it collapses the system."
Martenson points to the U.S. total credit market debt as an example of this unnerving pattern.
"For 30 years – from the 1940s through the 1970s – our total credit market debt was moderate and entirely reasonable," he says. "But then in seven years, from 1970 to 1977, it quickly doubled. And then it doubled again in seven more years. Then five years to double a third time. And then it doubled two more times after that.
"Where we were sitting at a total credit market debt that was 158% larger than our GDP in the early 1940s… By 2011 that figure was 357%."
As the U.S. inches closer to the dreaded "Fiscal Cliff" that has average Americans terrified of what might come next, Martinson expects to see absolute desperation on part of the U.S. government.
"They'll aggressively print more money. I believe we could see America enter into a period of devastating inflation where the dollar becomes nearly worthless."
According to polls, the average American is sensing danger. A recent survey found that 61% of Americans believe a catastrophe is looming – yet only 15% feel prepared for such a deeply troubling event.
Fitz-Gerald says people should take immediate steps to protect themselves from what is happening. In fact, the video investigation offers step-by step solutions that average Americans can use to maintain and protect themselves during these uncertain times.
"If our research is right," says Fitz-Gerald, "Americans will have to make some tough choices on how they'll go about surviving when basic necessities become nearly unaffordable and the economy becomes dangerously unstable."
"People need to begin to make preparations with their investments, retirement savings, and personal finances before it's too late," says Fitz-Gerald.