Columbia University Professor David Buckner joined Glenn on tonight's Glenn Beck Program to offer some frightening insight into the state of the U.S. economy. Glenn has long talked about the collapse of Weimar Republic and the triggers that lead to a state of unsustainable hyperinflation. David laid out five "steps" that lead to/cause a hyper-inflated state:
1. Economic implosion
2. Collapse in tax revenues
3. Raise taxes
4. Lenders stop lending
5. Austerity or print
As you can see from the list, the U.S. is obviously not the untouchably stable powerhouse it was once believed to be
So is there any hope for our economy? David believes that the decades of poor policy will ultimately come to a head in October 2014 or January 2015, and from there a complete collapse would be complete in just months. It's a scary prospect, but, as David explained, it is important to understand the root of problem, if we have any hope of righting the wrongs.