Billionaire Tells Americans to Prepare For 'Financial Ruin' Donald Trump

Billionaire Tells Americans to Prepare For 'Financial Ruin'

Monday, 30 Jun 2014 09:34 AM

By Newsmax Wires


The United States could soon become a large-scale Spain or Greece, teetering on the edge of financial ruin.

That’s according to Donald Trump, who painted a very ugly picture of where this country is headed. Trump made the comments during a recent appearance on Fox News’ “On the Record with Greta Van Susteren.”

According to Trump, the United States is no longer a rich country. “When you’re not rich, you have to go out and borrow money. We’re borrowing from the Chinese and others. We’re up to $16 trillion in debt.”

He goes on to point out that the downgrade of U.S. debt is inevitable. 

“We are going up to $16 trillion [in debt] very soon, and it’s going to be a lot higher than that before he gets finished. When you have [debt] in the $21-$22 trillion, you are talking about a downgrade no matter how you cut it.”

Ballooning debt and a credit downgrade aren’t Trump’s only worries for this country. He says that the official unemployment rate of 8.2 percent “isn’t a real number” and that the real figure is closer to 15 percent to 16 percent. He even mentioned that some believe the unemployment rate to be as high as 21 percent.

“Right now, frankly, the country isn’t doing well,” Trump added, “Recession may be a nice word.”

While 15 percent to 16 percent unemployment, a looming credit downgrade, and ballooning debt are a bleak outlook for the United States, they are hardly as alarming as the scenario laid out by another economist.

Without earning celebrity status or having his own television show, Robert Wiedemer did something else that grabbed headlines across the country: He accurately predicted the economic collapse that almost sank the United States.

In 2006, Wiedemer and a team of economists foresaw the coming collapse of the U.S. housing market, equity markets, private debt, and consumer spending, and published their findings in the book America’s Bubble Economy.



Read Latest Breaking News from Newsmax.com http://www.moneynews.com/Outbrain/Trump-Aftershock-American-Economy... 
Urgent: Should Obamacare Be Repealed? Vote Here Now! More here - http://www.moneynews.com/Outbrain/Trump-Aftershock-American-Economy...

Views: 1544

Comment

You need to be a member of 12160 Social Network to add comments!

Join 12160 Social Network

Comment by Robert Carobene on July 2, 2014 at 9:06am

yes for sure he is in the know!

Comment by mick on July 2, 2014 at 1:21am

Billionaires should know, they helped cause it.

"Destroying the New World Order"

TOP CONTENT THIS WEEK

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

Latest Activity

rlionhearted_3 favorited Sandy's photo
7 hours ago
rlionhearted_3 commented on Sandy's photo
Thumbnail

Screenshot_20250505-172225~2

"Hunter Biden fucking filmed himself with children and drugs!!!!!"
7 hours ago
rlionhearted_3 commented on Sandy's photo
7 hours ago
Doc Vega posted blog posts
14 hours ago
Less Prone favorited Sandy's photo
Wednesday
tjdavis posted a photo
Wednesday
tjdavis posted a video

2073 - Official Trailer

It’s the year 2073, and the worst fears of modern life have been realized. Surveillance drones fill the burnt orange skies and militarized police roam the wr...
Wednesday
Doc Vega posted blog posts
Tuesday
Doc Vega favorited cheeki kea's blog post The Decades of Evidence SSRI Antidepressants Cause Mass Shootings
Tuesday
Doc Vega commented on cheeki kea's blog post The Decades of Evidence SSRI Antidepressants Cause Mass Shootings
"We have American soldiers coming home from serving in the Middle East under 14 different…"
Tuesday
cheeki kea posted a blog post
Tuesday
Sandy posted a photo
Tuesday
Doc Vega posted blog posts
Sunday
Sandy posted videos
May 2
Doc Vega posted a photo

main-qimg-19b75f134be0b3510b58f15807ee9b98

Two sodomite fucks who hate America!
May 2
Doc Vega posted blog posts
May 2
Doc Vega posted blog posts
May 1
Sandy posted a video

RISE OF THE RAINBOW CHILDREN (2021)

📺AMAZON/FIRESTICK/ROKU: Thescariestmovieever.tv https://watch.thescariestmovieever.tv/webtv-v3/ 💯EMERGENCY FOOD SUPPLIES HERE (*Specials):…
Apr 30
tjdavis posted videos
Apr 29
Burbia posted a photo
Apr 29

© 2025   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted