OBAMA THE SACRIFICE
Israel Shamir
At Rhodes conference, I've met Mikhail Khazin, a man who predicted 9/11 on 9/10. Now he says this crisis will have no end. Obama is the sacrificial lamb, in his view, to be blamed for the great collapse. Read a recent interview with him.
Mikhail Khazin: U.S. will soon face second "Great Depression"
Renowned economist Khazin predicted U.S. financial crisis in 2000
Khazin: Exactly. In the early 1980s, they started to stimulate demand through state support. For example, they launched the "Star Wars" program. As of 1983, they placed an emphasis on the household economies.
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Khazin: Yes, the U.S. did create a very high standard of living by stimulating consumer demand. Generations lived without having to experience poverty. But it's impossible to live forever in debt. Household debt has now surpassed the national economy — more than $14 trillion. Now it's time to pay up. Of course, Wall Street tried to postpone this collapse. I won't go into detail about derivatives and other such financial assets, but this was just a gasp for air before an inevitable death.