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Global Financial Crisis

Richard Syrett was joined by former Congressional staffer Susan Lindauer, who served as a US intelligence asset and back door channel on anti-terrorism from 1993 to 2003. She discussed what happened when she tried to disclose the true facts of a 9/11 warning and Iraqi pre-war intelligence to Congress and the nightmare of her arrest via the Patriot Act.

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Global Financial Crisis

Show Archive
Date: Monday - January 12, 2009
Host: George Noory
Guests: David Smick, Dr. Bruce Goldberg

Appearing during the first three hours, financial advisor David Smick offered analysis of the global financial predicament. The current economic crisis goes well beyond the subprime loan/mortgage implosion-- it reveals fundamental problems in our financial architecture, and a serious lack of trust in the institutions themselves, he said. We could be looking at a "perfect storm" of further financial trouble, with the bursting of as many as eight other bubbles, including the commercial real estate market, adding up to a staggering loss of $200 trillion, he warned.

We allowed the leveraging of financial institutions to get out of hand-- government regulators were "asleep at the switch," he declared. European countries and other nations are likely in a worse situation than America since they are largely export dependent, and exports are dropping off, Smick noted, adding that European banks are heavily exposed to Emerging Market debt. The civil unrest and chaos in Greece, fueled by unemployed youth, could spread to Spain, Italy and France, he added.

Innovation and risk taking are drying up because of the lack of capital, Smick pointed out. Obama's stimulus plan could end up creating a "debt bomb" and may not employ many of the laid off white collar workers, he continued. Banks in the U.S. may eventually have to be nationalized to deal with the crisis, he suggested.

Life in the 35th Century

Hypnotherapist Dr. Bruce Goldberg, appearing in the last hour, shared what he sees in store for life in the 35th century. Among the breakthroughs: a food simulator which can prepare any meal as directed by human thought, teleportation devices in homes and offices, to instantly arrive at local destinations, and "information pills" that can pass on the knowledge of books.

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Bumper Music

Bumper music from Monday January 12, 2009

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