- Embry – People Will Be Shocked at the Chaos Heading Our Way!
Today John Embry told King World News, “This situation is unprecedented. The world has never, ever been in a condition like this.” Embry, who is Chief Investment Strategist of the $10 billion strong Sprott Asset Management, also told KWN, “anyone that is complacent will be shocked at the chaos that is heading our way.” Here is what Embry had to say about the situation: “I think we’re in an extraordinary place. It’s becoming obvious that Europe is imploding, and the powers that be really don’t have any solutions. I’m very worried about China. Lawrence Summers recently said China may have a year in which it only grows 7% in the next decade.”
The reality is the clock is ticking for the launch of QE3, but let me clear up one misunderstanding, at least as I see it. I don’t think QE3 will have any dramatic impact on the economy. The only thing it will do is forestall the implosion from occurring as rapidly.
This situation is unprecedented. The world has never, ever been in a condition like this. As a result, anyone that is complacent here and says, ‘This is just business as usual,’ they are dead wrong and will be shocked at the chaos that is heading our way.”