The Coming Economic Collapse
Posted: Friday, December 10, 2010
by Theodore Sumrall
Institute of Energy
In his book "THE COMING ECONOMIC COLLAPSE", Dr. Stephen Leeb predicted that the U.S. economy was standing on the brink of the biggest crisis in its history (which is now here). As the fast-growing economies of China and India pushed global demand for oil beyond production capacity, Americans experienced an energy shortfall far worse than the one in the 1970s. The result has been severe financial hardship for most people and the concept of "Trickle Up Poverty" has been realized. The result of this has been the inevitable destruction of the economy of the United States. This effort has not been due to the actions of one party or another but due to the complicit activities of leaders in both the Democratic and Republican parties. In particular, the Bush family led the charge. In Peter Schweizer's book "Victory" about the late great President Reagan's efforts to destroy the Soviet Union (their economy was destroyed by encouraging the Saudi's to increase their oil production which caused the USSR to lose $1B per year in hard currency whenever the cost of Oil dropped $1/barrel) Mr. Schweizer documented how President Reagan's VP at the time (George Bush Sr.) went behind the President's back (at the encouragement of his Houston pals in the oil and gas business) and tried to encourage the Saudi royal family to slow down their production. Of course President Reagan found out about this and instead of demanding the VP resign from office simply dressed him down in front of his senior staffers.
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Top-level comments on this article: (1 total)Of course it wouldn't have happened if America hadn't made so many enemies! Being a superpower always ends up in tears...
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