Bob Chapman "The International Forecaster" on the John Stadtmiller Show with Robby Noel

Budget director is leaving this summer, they might replace him with Laura Tyson. Congressional Budget office is saying 100 trillion in projected deficits.

Depression might last 10 or 20 years according to Bob if they raise taxes. The proverbial "Canary in the Coalmine" is California. When they fall, the rest will follow. In other states Billions might come out of pension funds.

Bob maintains that we still have a 1 1/2 years out yet. Obama is making mistakes that could backfire. Bob makes some other interesting observations. Arizona might move to not issue birth certificates to "anchor babies" (babies of illegal aliens).

Caller asks whats new with the E.U....Chapman says that Greece is getting closer to leaving the Euro and going back to the Drachma. What recourse do the German people have? There is tremendous dissent there especially with the increase of taxes there.

Half the Gulf is covered in oil and that is just what is visible. John mentions again about the methane gas and says the Gulf is dead. Bob wonders if the Gulf 'spill' will travel around the world...and calls it a false flag operation.

CLICK HERE for Mr. Robert Chapman bio also known as The International Forecaster.