Grand Rapids, MI -- (SBWIRE) -- 06/07/2012 -- When financial advisor Dennis Tubbergen is not helping his own clients or writing his weekly Moving Markets newsletter, you can usually find him in the studio recording his weekly radio show. His latest guest was Karl Denninger, a founding contributor to the conservative blog market-ticker.org and one of the earliest members of the Tea Party movement.
Denninger was also the CEO of MCSNet in Chicago, one of the area’s first internet providers. He helped form FedUpUSA in the wake of the March 2008 Federal Reserve bailout of Bear Sterns and has been a guest on MSNBC, Glenn Beck and CNBC Reports.
Tubbergen, who is CEO of USA Wealth Management, LLC, frequently discusses financial and political issues in his online financial blog and on his The Everything Financial Radio Show.
In his May 30, 2012 blog, Tubbergen talks about the U.S. economy.
“The Telegraph recently reported that some forecasters fear that the U.S. is already in another recession, which will exacerbate the economic troubles of the rest of the world,” begins Tubbergen. “And Europe in particular.”
This from the The Telegraph’s May 20, 2012 article: “The U.S. economy has slowed to stall speed. A few lonely forecasters fear that America has already fallen back into recession, replicating the terrible double-dip of 1937.”
“I believe that the U.S. economy is in a recession, even if not yet officially,” explains Tubbergen. “As the article states, job creation is slow and personal incomes are at a level where recessions have been triggered 10 out of 10 times.”
Tubbergen goes on to state he feels another recession is inevitable. He adds that much of the economic good news that we’ve seen over the past couple of years is the result of government stimulus money which is now drying up or inaccurate methods to report economic data.
“For example, when the unemployment rate declines because fewer folks are in the workforce rather than because more people are working, the entire reporting system is flawed,” notes Tubbergen. “Frankly, much of the economic data that is reported, including unemployment, the inflation rate, and economic growth rates cannot, in my view, be relied upon to provide an accurate picture of the economy.”
Tubbergen’s bottom line here?
“The world is facing a massive recession due to excessive debt levels,” concludes Tubbergen. “It cannot, in my view, be avoided. When massive debt is accumulated and policymakers attempt to correct the problem by adding more debt, you don’t need a Ph.D in economics to predict that their efforts will fail.”
Dennis Tubbergen and his Everything Financial Radio Show can be heard on Michigan’s WOOD 1300 AM and 106.9 FM stations, part of the Clear Channel network. The Everything Financial Radio Show can also be heard on WTKG 1230 AM Tuesdays from 8 to 9 a.m. Broadcast times for WOOD 1300 AM and 106.9 FM are Sundays at 9 a.m. Tubbergen’s interview with Karl Denninger will be available soon as a podcast at http://www.everythingfinancialradio.com.
About Radio Host Dennis Tubbergen
Dennis Tubbergen has been in the financial industry for over 25 years and has his corporate offices at 961 4 Mile Road N.W. in Grand Rapids, Michigan. Tubbergen is CEO of USA Wealth Management, LLC and has an online blog. His weekly talk show The Everything Financial Radio Show is syndicated on two Michigan metro stations.
The opinions expressed herein are those of the writer and not necessarily those of USA Wealth Management, LLC. This update may contain forward-looking statements, including, but not limited to, statements as to future events that involve various risks and uncertainties.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual events or results to differ materially from those that were forecasted. Therefore, no forecast should be construed as a guarantee. Prior to making any investment decision, individuals should consult a professional to determine the risks, costs, benefits and fees associated with a particular investment. Information obtained from third party resources is believed to be reliable but the accuracy cannot be guaranteed.