Rubino: “Normal Is Over” | ZeroHedge

Via Greg Hunter’s USAWatchdog.com,

Analyst and financial writer John Rubino has been warning for years that a systemic crash was always in the cards because of the enormous unpayable debt buildup.  The debt for America has never been more extreme. 

Now, there is a new wrinkle in the equation for an elite class wanting to hang onto power, and that is war – a nuclear war. 

Rubino says:

“These neocon chickenhawk psychopaths who are running Biden’s foreign policy are going to try to extend U.S. domination around the world.  5% of the world’s population is going to rule the other 95% of the population in perpetuity.  They see this as a ‘New American Century’ to be imposed by force, and they are willing to risk nuclear war to do that.  It’s baffling.”

Even if there is no wider war, Rubino says a systemic crash is closer than ever because of the massive amount of debt that even the common man knows will never be paid back.  Rubino says, “You cannot borrow the amount of money we have borrowed, it’s something like $700 trillion if you add everything in . . . it’s many times the GDP.”

“You can’t take on that kind of debt and then go back to normal.  Normal is over.  This would be like you or me borrowing $20 million on credit cards.  There is no way you can go back to normal.  The guys in charge of monetary policy are pretending they don’t know that or they actually don’t know that…

You can’t tell whether they are an idiot or an evil genius…

It is clear that they are not correct when they say they can give us a ‘soft landing’ and get us back to organic sustainable growth.  You cannot borrow this kind of money without a gigantic crisis to wipe out that debt.”

There is some good news as Rubino contends:

“They are telling us bigger and bigger and more ornate lies.  More and more people are starting to see through those lies.”

Rubino says this is a phenomenon called a ‘trust horizon,’ and it is shrinking for most people.  Rubino explains,

“Right now, people are trusting fewer and fewer of those big distant systems, and they are looking closer to home.  Would you trust the governor?  Maybe not, but you might trust the mayor because they can meet the mayor and shake hands with him.  You might trust the local farmers because you don’t trust the big food companies anymore…

And that’s what is happening in society right now.  The trust horizon is shrinking back to a local level.”

When it comes down to it, Rubino thinks we will all be facing only two choices to get rid of all the unpayable debt.  Rubino says,

“When the first domino falls and starts knocking the other dominos over, the government is looking at a 1930’s style deflationary depression as everybody defaults on their debt, or they come back with a gigantic bailout because it is the only other thing they can do…

They give up on inflation . . . and create as many new trillions of dollars that it takes to stop the bleeding.  Then currencies start falling and inflation starts spiking, and basically, it’s game over.”

One of these two choices is coming sooner than you think, according to Rubino.

There is much more in the 40-minute interview.

Join Greg Hunter as he goes One-on-One with financial writer John Rubino and his new enterprise called Rubino.Substack.com for 7.8.23.

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Rubino is watching the new BRICS currency that is going to be launched around August 22 of this year.  Rubino says this is a huge deal with very big negative consequences for the U.S. dollar.  Rubino is coming back next month just before the BRICS currency launches and promises to give us a deep dive on how it will affect you and the rest of the world.

John Rubino is a prolific financial writer, and you can see some of his work for free at Rubino.Substack.com.  There is even more cutting-edge original information and analysis if you subscribe.