The mother of all economic crises

Ron Paul Institute for Peace and Prospersity/Ron Paul/1-12-2022

“Nouriel Roubini, a former advisor to the International Monetary Fund and member of President Clinton’s Council of Economic Advisors, was one of the few ‘mainstream’ economists to predict the collapse of the housing bubble. Now Roubini is warning that the staggering amounts of debt held by individuals, businesses, and the government will soon lead to the ‘mother of all economic crises.’ Roubini properly blames the creation of a debt-based economy on the near-or-at-zero interest rate and quantitative easing policies pursued by the Federal Reserve and other central banks. The inevitable result of the zero-interest and quantitative easing policies is price inflation wreaking havoc on the American people.”

USAGOLD note: We have always appreciated Ron Paul’s down-to-earth approach to economics and finance. In this essay, he explains why he agrees with Nouriel Roubini that we are on the cusp of the mother of all economic crises. He warns of an approaching storm saying it is the responsibility of attuned citizens “to make the necessary plans to ensure our families can survive the forthcoming turmoil.”