John Williams from ShadowStats.com Interview: This is End of the World Type Stuff

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His research is where you go if you want the truth about the U.S. government economic data. One of John’s early clients was a large manufacturer of commercial airplanes, who had developed an econometric model for predicting revenue passenger miles. The level of revenue passenger miles was their primary sales forecasting tools, and the model was heavily dependent on the GNP (now GDP) as reported by the Department of Commerce. Of course as the government continued to change the methods of calculating this information in order to always make things look better for whoever was in the white house, the model his client had been using became worthless as the government information became worthless. So, John fixed it. He began the lengthy process of using realistic methodologies to calculate GDP, unemployment, and our inflation rate.

In our interview with John, basing his opinion off of the actual numbers, not the propaganda put out by the government, John is forecasting that the Federal Reserve “is in a no win situation.” He goes on to add that he hates to say it, but looking at the environment we are in, “this is end of the world type stuff, the end of the financial world as we know it.”

According to John, our official deficit of 2011, which was around 1.3 trillion, is a complete lie. However, when you include all of our debt obligations it was actually about 5 trillion dollars.

John also noted in our interview that even if you cut all spending except for social security and medicare, the U.S. would still be running an annual deficit.

When it comes to preparing for the future, he says Americans should buy canned food rather than treasury bills.

We also discuss a gold backed dollar, the Euro crisis, and how much longer can the “powers that be” kick the can down the road.

This interview is a must listen for our members, John approaches this from a purely macro-economic perspective and we always enjoy his analysis.

This video is sponsored by Pershing Gold, Formerly Sagebrush Gold:

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