Gary Johnson on Looming Economic Collapse
Libertarian Presidential Candidate Gary Johnson talks to WeAreChange about the pending economic collapse and U.S. intervention in the Middle East.
The Tea Party plan fails based on three critical parameters:
1) Classic economic theory.
2) Historical fact in similar circumstances.
3) Common sense.
Stimulus works in the beginning and middle of economic cycles but does not work at the end of the economic cycle. At the beginning and middle of the economic cycle, there are useful areas to invest stimulus money. At the end of the economic cycle, there are no useful areas to invest in and the money goes to worthless investments that ultimately go broke.
“It would take a 3 % loss in the derivatives market to wipe out the worldwide capital of the banking system in the world. The probability that numerous of the world’s major banks will fail in the coming years due to derivatives is extremely high, putting at risk the solvency of the worldwide banking system.”
Nearly all people will be affected negatively, including billions of the world’s inhabitants that will experience truly terrible economic upheaval.