Rick Ackerman – Second Great Depression Starts in 2021
by Greg Hunter
USA Watchdog
Analyst, professional trader and financial writer Rick Ackerman says don’t expect the trillions of dollars of borrowed money given away in government stimulus to save the economy. It will not. Ackerman explains, “For every dollar of debt we create, we only get 33 cents of growth. . . . The stimulus is having less and less of an effect, and because it has less of an effect, it stimulates the stimulators to do even more stimulating, which essentially means more borrowing. So, that’s what’s called a debt trap, and we are very much in it. . . . There is no question you get a shot in the arm on the consumer spending side and also with asset inflation with the real estate market and stock market. Don’t kid yourself, you are not creating sustainable growth to pay off that borrowing. We are not going to grow our way out of this.”