Las Vegas, NV, November 20, 2009 --(PR.com
)-- CEO Magazine published an exclusive interview with Med Yones, one of the few experts who predicted the financial crisis. In his interview, the expert warns for another financial crisis in 2015. Moreover, the interview also reviews the policies of Federal Reserve chairman, Ben Bernanke, and Treasury Secretary, Tim Geithner.
According to Med Yones “The government spends 25% of its budget on these benefits. Up until 2007 the government collected more taxes than it paid. It is estimated that Social Security funds will turn into negative cash flow by 2015 or even earlier. The rate of workers-to-beneficiary has gone down from about 17-1 to 3-1. People are living longer, birth rates are declining, and anti-immigration sentiments are increasing. These factors will lead to the reduction in social security or increasing of payroll taxes, reducing business profits and increasing inflation.”
“Moreover, as the expert says the exact timing, speed and depth of the next crisis would depend on several reasons and, one of them would be the creation of a basket of different currencies as an international currency reserve: “The US is running on the goodwill of previous decades, once that is challenged or the dollar is replaced with a basket of international currencies, the US economy could crash, especially if the government does not stop spending or go back to healthy production-based growth and investments.”
The full interview is available at:
About Med Yones:
Med Yones is the president of the International Institute of Management (IIM) – A US based strategy think tank and CEO education institute.
About CEO Magazine:
CEO Magazine provides a global intelligence report covering key events, trends, emerging risks and opportunities in the USA, Europe, Asia and the Middle East.