John Williams: ‘I think the economy is going to get a lot worse’

USA Watchdog, Released on 10/11/22

“I think the economy is going to get a lot worse. If you listen to what (Fed Head) Jay Powell said at his last press conference, he said he’s looking to create a recession. That’s effectively what he was saying, and they are doing it. . . . I think you have higher inflation ahead. I would try to get my cash into assets that adjust for inflation such as gold and silver. You also need to get something that has a long shelf life. . . . The problem here is going to be in the next year. You are going to see the economy getting worse and inflation getting worse. I don’t see the Fed cutting back on the money supply, and they are already telling you they are going to keep raising the interest rate. Good buys are things that will spike with inflation. . . . Stock up on canned food. . . .I think you are going to see a few more percentage points on the government numbers coming up. That can, and I think will, happen as things deteriorate here.”

Walter J. “John” Williams has been a private consulting economist and a specialist in government economic reporting for more than 30 years. His economic consultancy is called Shadow Government Statistics ( His early work in economic reporting led to front-page stories in The New York Times and Investor’s Business Daily. He received a bachelor’s degree in economics, cum laude, from Dartmouth College in 1971, and was awarded a master’s degree in business administration from Dartmouth’s Amos Tuck School of Business Administration in 1972, where he was named an Edward Tuck Scholar.

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