Tuesday, April 2, 2013

European Bank Runs Could Spread Like Wildfire Due to Cyprus Banks - Laurence Kotlikoff

Laurence Kotlikoff is professor of economics at Boston University, fellow of the American Academy of Arts and Sciences, research associate of the National Bureau of Economic Research, fellow of the Econometric Society, and former senior economist of the Presidents Council of Economic Advisers.

Economics Professor Laurence Kotlikoff says banking problems in Cyprus "could spread like wildfire throughout Southern Europe and Northern Europe and into the U.S. because we have a banking system that's built to fail." Dr. Kotlikoff also says, "It's going to happen in the form of a crash in the bond market. Interest rates are going to skyrocket, and we're probably going to have high inflation because the government is printing money out the wazoo." Join Greg Hunter as he goes One-on-One with Economics Professor Laurence Kotlikoff of Boston University.