World Will Become Baltimore When Debt Bubble Bursts-Gregory Mannarino

by Greg Hunter, USA Watchdog Trader/analyst Gregory Mannarino thinks increasing bad economic news will force the Fed to print more money, or QE. Mannarino contends, “I absolutely think that’s going to happen. Before they allow this mechanism that they have propped up with these distortions that are so extreme, to correct to fair market value, they are going to throw everything at it to keep it going. Again, the alternative is too horrible to contemplate—too horrible to contemplate. The world will become Baltimore when the debt bubble bursts. Every street in every nation around the world is going to become Baltimore as people realize they cannot acquire basic assets. Everyone is struggling for these resources. This is really what it’s all about. They understand this. The world central banks are not stupid. This goes back to why the police are militarized in every state in the union. We are one nation under surveillance. They have understood where this was going for many, many years.” Mannarino goes on to say, “The mechanism that is in place right now is boosting up the stock market at the expense of everyone else in regard to the gap between the haves and the have-nots. We are clearly moving back to a two-tier society. When this is over, the middle class will not exist–period.” In terms of the so-called recovery, Mannarino says, “We are going nowhere. We got consumer spending falling off a cliff despite the promise we heard from the mainstream that people were going to be saving cash at the pumps and we were going to be spending it on other things. . . . We got manufacturing falling off a cliff. Exports are falling off a cliff. We’re in decline. There is no doubt about it, and they bare blaming the weather and everything they can think of to try to get people to believe this is a good economy. This is the new norm, and I don’t see how people can believe the nonsense anymore. This is it. The new norm is what we have now. . . . This is a set up for a massive downside move with asset prices.” Continue Reading>>>

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