Financial analyst Andy Hoffman contends debt is the main problem with the economy. Hoffman says, "There is so much debt in it that even a tiny bit of interest rate increase is killing it further. Yes, they have had the stock market go up, but what have they created? They have created Dotcom valuations in an increasingly Great Depression era, which, by the way, are only being enjoyed by 1% of the population. The largest most destructive Ponzi scheme is at its end. You can't do anymore. They can't anymore say the economy is getting better. . . . All the market manipulation and money printing is dying. All that's going to be left is hyperinflation."
Andrew ("Andy") Hoffman, CFA joined Miles Franklin, one of America's oldest, largest bullion dealers, in October 2011 and serves as Marketing Director. For a decade, he was a US-based buy-side and sell-side analyst, most notably as an II-ranked oil service analyst at Salomon Smith Barney from 1999 through 2005. Since 2002, his focus has been entirely on precious metals, and since 2006 has written free missives regarding gold, silver and macroeconomics. Prior to joining the company he spent five years working as an investor relations officer or consultant to numerous junior mining companies. Andy's articles can be found on the Miles Franklin Blog, at www.milesfranklin.com.