Imminent: I Dont Think Obama is Going to Finish His Second Term Without the Bottom Dropping OutMac Slavo Many are likely holding to the belief that our benevolent government politicians and financial leaders have taken the necessary steps to turn this economy around. But theyd be wrong. The next wave of crisis is imminent and the end result will be a total wipeout for Americans: I think we are heading for a worse economic crisis than we had in 2007, [Peter] Schiff said. Youre going to have a collapse in the dollara huge spike in interest rates and our whole economy, which is built on the foundation of cheap money, is going to topple when you pull the rug out from under it. According to Schiff, these numbers are unsustainable. And the Fed has no credible exit strategy. Eventually interest rates will rise and when they do, Schiff says, stocks will tank and bonds dip to nothing. Massive new tax hikes will be imposed and programs and entitlements will be cut to the bone. The crisis is imminent, Schiff said. I dont think Obama is going to finish his second term without the bottom dropping out. And stock market investors are oblivious to the problems. Were broke, Schiff added. We owe trillions. Look at our budget deficit; look at the debt to GDP ratio, the unfunded liabilities. If we were in the Eurozone, they would kick us out. Schiff points out that the market gains experienced recently, with the Dow first topping 14,000 on its way to setting record highs, are giving investors a false sense of security. Its not that the stock market is gaining value its that our money is losing value. And so if you have a debased currency a devalued currency, the price of everything goes up. Stocks are no exception, he said. The Fed knows that the U.S. economy is not recovering, he noted. It simply is being kept from collapse by artificially low interest rates and quantitative easing. As that support goes, the economy will implode. Via Money Morning Peter Schiff knows a thing or two about whats going on, and hes been sounding the alarm since before 2008. He, like many others, understand that there is no way out. There is no credible financial or economic exit strategy. The government knows this and thats why they are actively implementing an expansive control grid across this entire country. Those with insider knowledge fully understand whats coming and they have been war-gaming large scale economic collapse and the widespread civil unrest that will follow. Make no mistake. The powers that be have an exit strategy it just doesnt involve recovery, stability or your well-being. This article first appeared at Mac Slavos site SHTFplan.com linkwithin_text=Related Articles: 