Hello everybody and thank you for tuning in to the weekly report, the Mother of All Economic

Crisis.

Nureal Roubini, a former advisor to the International Monetary Fund and member of President

Clans Council of Economic Advisors, was one of the few mainstream economists to predict

the collapse of the housing bubble.

Nureal Roubini is warning that the staggering amounts of debt held by individuals, businesses

and the government will soon lead to the Mother of All Economic Crisis.

Roubini properly blames the creation of a debt-based economy on the near or at zero interest

rate and quantitative easing policies pursued by the Federal Reserve and other central banks.

The inevitable result of the zero interest and quantitative easing policies is price

inflation, wrecking havoc on the American people.

The Fed has been trying to eliminate price inflation with a series of interest rate increases.

Though far, these rate increases have not significantly reduced price inflation.

This is because rates remain at historic lows, yet the rate increases have had negative

economic effects, including a decline in the demand for new homes.

Increasing interest rates make it impossible for many middle and working class Americans

to afford a monthly mortgage payment for even a relatively inexpensive home.

The main reason the Fed cannot raise rates to anywhere near what they would be in a free

market is the effect it would have on the Federal Government's ability to manage its debt.

According to the Congressional Budget Office, interest on the National debt is already

on track to consume 40 percent of the Federal Budget by 2052 and will surpass defense spending

by 2029.

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