Dexter B. Wakefield

In the European Union, there is a new worry—deflation. The economic concern has been inflation in many countries—such as Argentina (about 25 percent according to private economists) and Venezuela (52 percent in 2013). With the United States economy being flooded with liquidity from “quantitative easing” by the U.S. Federal Reserve—along with massive fiscal deficits—many analysts in the United States are concerned that inflation could spike up in the U.S. as well. But in the European Union, the concerns are quite the opposite.

Fifty-five years ago, I was sitting in a high school classroom when a news broadcast came over the intercom. Soon enough, the enormity of the event became apparent. President John F. Kennedy had been assassinated!

Double, double, toil and trouble;
Stocks and bonds form massive bubble!

Well, that is not exactly how Shakespeare wrote it in Macbeth, but some economic soothsayers are putting out a very similar message to their clients—and are doing so in no uncertain terms.

A Tomorrow’s World article last year warned that trillion-dollar budget deficits run up by the United States government are accumulating into an unsustainable “debt bomb” that will eventually explode to the detriment of the nation. A recent Wall Street Journal article has now warned of the same “debt bomb”—as the crisis Tomorrow’s World described last year is growing even worse!