by Greg Hunter USAWatchdog.com
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Economist John Williams thinks the economy is in worse shape than most people think. In 2013, Williams predicts, u201CAs this goes forward, you're going to see we're going to be in a new recession.u201D The Federal Reserve announced last week it is now printing a total of $85 billion every month to reduce unemployment and stimulate the economy. Williams says, u201CThat's nonsense. . . . There's nothing they can do to stimulate the economy.u201D Williams has long contended the Fed is really just using the weak economy to continue to prop up the banking system. Williams says, u201CIf the Fed wasn't doing what it's doing . . . I'd presume you'd be on the road to a banking system collapse. The banking system is still in trouble.u201D Williams warns the u201Copen-endedu201D printing of $85 billion a month u201C. . . will be part of what will eventually become hyperinflation.u201D And if there is no deal on the so-called u201Cfiscal cliff,u201D then Williams expects u201Cheavy selling pressure on the U.S. dollar.u201D Join Greg Hunter as he goes One-on-One with John Williams of Shadowstats.com.