Will Deflation Devastate the United States of America?

John Myers is a Canada-based editor who closely watches the energy and gold markets.

He recently opined that the federal government of the United States is a bigger threat to America's well-being than ISIS, Iran, Russia or North Korea.

Myers calls attention to the nation's $18-trillion debt and suggests that the U.S. could face a deflationary depression that's worse than the Great Depression of 1929-1933.

Here's an excerpt from Myers' August 26 article titled, "The coming deflation could destroy America":

… I have been through the bear markets of 1982, 1987, 1989 and the granddaddy in my lifetime, the stock market crash of 2008. In every case, the crunch on equities came months after a continual erosion of global commodity prices. According to the CRB Commodity Index, commodity prices have fallen by a third in the past year. None have been more devastating than crude oil, which has fallen from more than $100 per barrel 14 months ago to its current price this week of less than $40 per barrel.

The demise of commodities that represent real wealth is taking a baseball bat to global markets. It is either amazing or sinister that our representatives in Washington have completely forgotten the capital crash of 2008. …

This won't be your grandfather's Depression. I have heard too many stories from my father and uncle about hobos who would come to the family homestead looking for a morsel of food. My grandparents had lost all of their savings during the commodity crash of the late 1920s but owned the homestead outright, and my grandmother never refused a hungry man a plate of food. My dad used to stay it was a different era and that some of the neighbors who couldn't afford to give a potato away were never robbed or abused by desperate men. We have seen quite a change over the past 85 years. Now, parts of the community believe it is their right to riot for no greater purpose than a liquor store closeout sale or that it's their God-given right to jack a safe full of narcotics from a community drugstore. These crimes are occurring during relatively prosperous times. Guns and race rage will make 1929 seem like a slow year compared to the coming Armageddon.

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