Financial guru Robert Wiedemer tells Newsmax that the American economy is facing a double-barreled threat — a recession is “absolutely” coming and inflation will be the “biggest problem” of all.
Wiedemer, managing director of Absolute Investment Management and a contributor to Newsmax’s Financial Intelligence Report and Moneynews, attributes Thursday’s stock market plunge to the government’s ending of quantitative easing — printing money to buy securities in an effort to fuel economic growth.
But he warns that the practice will likely be resumed and will ultimately bring on inflation.
Back in 2006, Wiedemer was one of three economists who co-authored a book correctly warning that the real estate boom and Wall Street bull run were about to end.
In 2009, they returned and wrote the best-selling book “Aftershock,” describing a situation where a massive pullback on our dollar, coupled with an out-of-control government debt fiasco, would begin to topple the American way of life.