With George Noory
Live Nightly 1am - 5am EST / 10pm - 2am PST
Advertisement

Coast Insider

Not a member? Become a Coast Insider and listen to the show 24/7
Advertisement

Last Show Recap

Economic Forecast

George Noory hosted a panel of experts (Jerome Corsi, Robert Young Pelton, & Michael Weiss) on the Middle East and terrorism, for a discussion on the history of ISIS, and the threats they pose to the US and Western countries.

First half-hour guest, engineer and investigator of Mayan technology, James O'Kon, talked about the discovery of a lost city in the Honduran jungle, which dates back centuries ago.

Upcoming Shows

Thu 03-05  MH-370 Disappearance/ Elvis Mysteries Fri 03-06  TBA/ Open Lines

CoastZone

Sign up for our free CoastZone e-newsletter to receive exclusive daily articles.

Economic Forecast

Show Archive
Date: Wednesday - November 8, 2006
Host: George Noory
Guests: Michael Shedlock

Financial pundit 'Mish' Shedlock shared his economic forecast. He sees America heading into a recession by 2008, brought about by a housing bubble collapse. Jobs associated with the rising housing market have supported the economy, but as housing values go down and fewer new homes are built-- a rise in bankruptcies and unemployment will occur nationwide, he outlined.

Further, he warned that corporations will start outsourcing white collar jobs (such as in advertising and accounting) to India, leading to more unemployment. Shedlock recommended jobs in the health care field, such as nursing, which are in heavy demand and can't be outsourced. He also advocated that people live within their means, and have a savings account to cover one year's worth of expenses.

He offered a number of fixes for the American economy:

  • Cut military budget. Pull the troops out of Iraq & Europe and have them involved in security in the U.S. such as at ports. These troops would then be spending money in America.
  • Encourage free trade, eliminate subsidies on crops.
  • Kill GSE programs such as Fannie Mae and Freddie Mac.
  • Change the tax code to a combination of flat & use tax.
  • Rework Medicare/Medicaid.
  • Gradually raise the reserve requirement of banks.

Bumper Music

Bumper music from Wednesday November 08, 2006

Advertisement