John Rubino--The Money Melt Down 20.Dec.13

www.FinancialSurvivalNetwork.com presents 

John and I connected to discuss the latest economic developments. His next book, co-written with Goldmoney's James Turk will be released any day. John believes that bank lending is about to pick up big time. The reason is simple. Since at least the 1980s, US policy has been to convince us to borrow as much as possible on pretty much anything we could think of. This worked brilliantly until 2008, when homeowners, consumers and businesses hit a wall and private sector defaults began to exceed new loans. Another Great Depression was imminent.

But instead of allowing this natural cleansing process to run its course, governments around the world stepped into the breach themselves, borrowing tens of trillions of dollars to replace evaporating private sector debt. The idea, to the extent that there was one, was to buy time for traumatized consumers and businesses to relax a bit and start borrowing again. So sit back and watch the fun begin again. 

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