“Whoever wins Tuesday’s election — whether it’s President Barack Obama or his Republican challenger Mitt Romney — will battle economic depression and hyperinflation, thanks to years of a lack of political will to pay down debts, private-sector economist John Williams wrote on his ShadowStats website.
Monetary-stimulus measures that have weakened the dollar to jolt the economy will send the economy into depression at a time of soaring prices, likely around 2014, he wrote: “The next presidential term most likely will see the onset of a domestic, hyperinflationary great depression.”
“The long-term solvency issues of the United States remain the primary threat to domestic financial, economic and political stability and to the relative global valuation of the U.S. dollar. The dollar’s vulnerability to this issue has been seen consistently with ongoing failed federal budget negotiations and ever-expanding quantitative easing by the Federal Reserve.”
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