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.”
John Embry continues:
“I would view that as a positive if they only had one year where they grow 7% because I really think China is going to regress as well. We’ve talked about the situation in the US. I don’t believe the US economy is going anywhere, despite the enormous fiscal and monetary stimulus.