A Repeat of the Great Depression Is Our Best Case Scenario

 

By Mac Slavo / SHTFplan.com

President of the Ayn Rand Institute Yoran Brook says that we’re essentially out of solutions for the economic, financial and monetary crisis facing America. He joins The Daily Ticker to discuss the general sentiment from the institute’s recent Atlas Shrugged Revolution dinner, which featured attendees like Euro Pacific Capital’s Peter Schiff and John Tamny of RealClearMarkets:

The mood in the room was definitely that this country is heading towards some kind of collapse, some kind of significant disaster. That everything kind of is lined up and nobody, really, in the political realm, out there in the culture seems to have solutions…

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If we look long-term. If we look at the structural problems of the United States, at over $100 Trillion in unfunded liabilities, of ongoing deficits, of no political solutions, of nobody talking about real cuts, where does this all lead?

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Unless we have real structural change I think it will [lead to disaster]… Unless you change the approach to government, unless you’re willing to challenge the very notion of what government needs to do, you’re not going to change it in a fundamental way.

…Unless you make a fundamental change in our approach to entitlement, in our approach to government, we can buy time, but we’re not going to change the outcome.

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Unless there’s alternatives, unless people come up with real solutions, the crisis could be anywhere from a major economic depression and we learn our lesson and we climb out of it, to what happened to Rome, which really is the dark ages…

…I think we have to remember that…civilizations in human history have declined, they’ve disappeared…Sometimes in human history mankind has gone through long periods of time of just struggling, of it being very hard to survive.

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