Domino Theory

" You know I'm -- for -- now trying to figure out. How are gonna pay for all this spending and and how can anybody before all -- spending. The 871. Billion dollars over ten years for health -- come on Nancy bring it on. It's under 900 did there she is move that's a big picture her. Under 900 billion dollars how do you pay for that by the way that's ten years of paying for five years of coverage. No me neither calculators broken maybe they were all sick when they -- math every day in school. Maybe she believes in magic -- writing a unicorn writing in paying off the bat or maybe maybe. They just think they can print more money you know -- money -- and we need more money and just keep bringing it over and over again. Maybe they all believe in -- and Piven in -- intentionally trying to claps the dollar oops did I say that out loud. It doesn't matter because you can't pay it off you cannot pay this off because -- it's gonna cost look. We are worried about health care -- had a problem in the hospital what two years ago it's still gonna face. But this isn't gonna fix it because when we did the health -- this is our national debt this is insane. 343724. Dollars that's every citizen knows that I get you get a super neat job -- what. 7-Eleven. Are you -- that. We are setting up -- situations where kids will have nothing. The possibility Alva second stimulus add more spending like health -- cap and trade some economists fear the dollar could collapse well well. You even know what that means the dollar could collapse. I do in theory and I do through history but a -- Charles -- yet he is the author of the dollar meltdown. He broke it down forming. Here's what happens if the dollar collapses. It doesn't mean just that the country goes broke it's like dominoes. What -- first how will it affect you. Well -- in the dollar collapses the first thing it knocks down is your house. If the dollar collapses you'll see higher interest rates which will ruin. The housing recovery right now fourteen million homes are vacant sixteen million homeowners or more in their mortgages than their houses are worth. Higher interest rates will make it worse and costs homebuyers more -- leaving less discretionary income. The purchase of cars appliances and other goods will slow old. Because of the higher interest rates credit card rates. You don't believe it can happen it already is retail sales on in the united states -- 10% since their peak in November 2007. Car sales dropped last month down 35%. After the cash for clunkers thing ended. Imagine what higher interest rates would do. It knocks the next one down business. Slow Consumer Spending means business slowdown. Higher unemployment it's a circle -- it never stops high unemployment no wage growth depresses the Consumer Spending which means more unemployment. Economists are already full forecasting slower holiday sales this year and consumer credit has dropped by a record 118. Point eight billion dollars since the peak of July 2008. Unemployment now is closing in at 10% according to the government the real rate may be higher. Seven point two million American jobs have been lost since the recession began in December 2007 the biggest decline since the Great Depression. That means tax revenues go down. The government is -- they need more they want more social spending. All -- spending will then then widen the deficit because your tax credit you don't have a job. A year -- the US national deficit was 459. Billion dollars for the fiscal year that ended a couple of weeks ago the deficit now it's tripled. One point four trillion dollars. So what do they know they're out of money they can't borrow any more giving China is gonna keep on this sending the never ending circling game of course not. Not. So what happens next. The government falls the government will have to pay higher interest rates to borrow the money it -- deficit will explode. The deficit becomes the -- compounds. At higher rates. The rate of sped -- federal spending grows faster than the economy grows and back. Leads to more problems because the federal government becomes less credit worthy. Desperately looking for revenue the government will try to raise taxes on homeowners who you remember from before don't have any money. Which then sends the economy into a free fall and then -- A choice. A choice. Choice. If the dollar collapses the legal knocking at the door of the UN. Begging to the world. Just to save what we have an RTV's. Or do we turn to ourselves. The American people friends or neighbors -- family. We are the ones we've been saying all along stop the spending no bailouts stop printing money but. When that dollar collapses it's like dominoes and we are getting close to it may I show you here but. I don't know how anybody at the White House. Confuses this show would journalism. We've got dominoes on -- Big Apple in the country. Here it is are you ready. The dollar. Is extraordinarily. Fragile extraordinarily. Fragile. You just knock it out by overspending. And the whole thing collapses. Your house. Unemployment. And the government. Then you left with a choice are you ready it's easy all you do is just push one."

" Look at this can get this -- Look at this. One didn't fall the question kids will -- be the UN. Or will it be you do we rely on our selves. Or do we rely on a global government I'm telling you now. They're gonna be those who are gonna try to make this thing and they're gonna say -- my --"

" emergency that dollar is collapse what do we do. Quick let's run little world let's -- we got."

" I had some big organizations say -- I'm telling you they're going to say this to you at some point maybe in ten years. -- who knows. Who knows. Rely on yourself. For a in depth look at the dollar and the domino theory sign up for my free email newsletter -- Glenn -- dot com and special thanks to domino Dan. -- way twice this week. We had to -- yesterday from upstate New York this couple these -- and then leaving early from the Poughkeepsie -- Stop & Shop open Poughkeepsie. --"