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Economic Forecast
Bursting the Bubble
Economic Forecast
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Date: |
08-12-03 |
Host: |
George Noory |
Guests: |
"Debt is the Achilles' heel of the American economy," said Don McAlvany (mcalvany.com(1)), the guest on Tuesday night. As the editor of the McAlvany Intelligence Advisor, he analyzes financial developments and their effect on personal finances.
"We are headed for a great world depression," worse than the one of the 1930's, "as the debt pyramid is now unraveling," McAlvany said. He believes we are at the beginning of a long-term drop in the standard of American living, and that China and Asia will be the dominant economic force of the 21st century. Pointing a finger at the Federal Reserve, he said that artificial stimulations of the economy to try to keep the prosperity of the 90's going, were akin to the needs of a drug addict.
"There are ways to protect ourselves," the first being to get out of debt, he said. McAlvany also advised getting out of the stock market entirely, and investing in gold and gold stocks, as well as starting a home business as a sideline. The currently strong real estate market however, is very vulnerable. There's a "giant ice pick" ready to burst that bubble, he warned.
1. http://www.mcalvany.com/
Beyond the Year 3000 |
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Tonight's guest, Dr. Bruce Goldberg, has collected case studies of people who say they were visited by time travelers from 1,000 to 3,000 years in our future. Pioneering out-of-body explorer, the late Robert Monroe, wrote of traveling to Earth, at a time beyond the year 3,000 in his book Far Journeys(1).
1. http://www.amazon.com/exec/obidos/ASIN/0385231822/ctoc |
Bumper music from Tuesday August 12, 2003
| 1. | Inca Dance Cusco |
2. | Beautiful Girl INXS |
3. | Hypnotized Fleetwood Mac |
| 4. | It Don't Come Easy Ringo Starr |
5. | Midnight Express (The Chase) Giorgio Moroder |
6. | Midnight Express (The Chase) Giorgio Moroder |
| 7. | Only Time Enya |
8. | Pegasus 51 4 Hero |
9. | Porcelain Moby |
| 10. | Right Now Van Halen |
11. | Say You Will Fleetwood Mac |
12. | Soul to Squeeze Red Hot Chili Peppers |
| 13. | Stand By Me Ben E. King |
14. | Stand By Me John Lennon |
15. | Too Much Information The Police |
| 16. | Wicked Game Chris Isaak |
17. | You Belong to the City Glenn Frey |
18. | You're No Good Linda Ronstadt |