Inflation 75 Year High, Unemployment 24% – John Williams

By Greg Hunter’s

Economist and founder of, John Williams says the government’s “phony numbers” don’t show the public how bad things really are with the economy.  Williams prides himself in giving you the actual economic numbers without “accounting gimmicks” that make things look better than they actually are.  For example, the latest official government number on inflation shows 8.3%.  It’s officially a 40-year high.  It gets worse when you strip away all the “accounting gimmicks,” and you see the real number that is burdening real people in the real world.  John Williams explains, “My inflation number shows a 17.3% peak in June, and right now it is 16.5%.  That is at a 75-year high.   I think you will find people are having a more difficult time than they were having 40 years ago.”

On the unemployment front, the government is touting a 3.5% unemployment rate.  What are the real numbers when you count all unemployed people no matter how long they have been looking for work?  Williams says, “The unemployment numbers are frightening. . . . I think we are seeing what I consider a phony number of 3.5%.  After a year, the ‘discouraged worker’ disappears as an issue. . . . The unemployment number is really 24.4% the way it used to be counted by the Bureau of Labor Statistics (BLS).”

Williams is not expecting things to get better anytime soon.  Williams contends, “I think the economy is going to get a lot worse.  If you listen to what (Fed Head) Jay Powell said at his last press conference, he said he’s looking to create a recession.  That’s effectively what he was saying, and they are doing it. . . . I think you have higher inflation ahead.  I would try to get my cash into assets that adjust for inflation such as gold and silver.  You also need to get something that has a long shelf life. . . . The problem here is going to be in the next year.  You are going to see the economy getting worse and inflation getting worse.  I don’t see the Fed cutting back on the money supply, and they are already telling you they are going to keep raising the interest rate.  Good buys are things that will spike with inflation. . . . Stock up on canned food. . . .I think you are going to see a few more percentage points on the government numbers coming up.  That can, and I think will, happen as things deteriorate here.”

There is much more in the 42-minute interview.

Join Greg Hunter of as he goes One-on-One with John Williams, founder of, as he explains how bad the economy really is.  (10.11.22)

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  1. ryan

    Thank you!

    • Anthony Australia

      Running away from yourself won’t change anything. If anything, it shows you who you are, how others tick and that home is truly where your heart is.
      For all of us life is certain to contain scary and challenging adventures, but you’ll be okay if you can make friends with the best aspects of yourself and refuse to let the bumps and burdens close you off to what’s good in the world and what’s good in other people. Simple enough, but for those who can achieve this then there’s always delight to be experienced and magic to be found.

      • Russ McMeans

        Beautiful statement Anthony. I live by this ” being in the moment ” every day. In spite of our human ugly world we live in. Our Creator is calling us home to be near Him. God Bless you and God bless John Williams, our humble accountant crunching the numbers for us simple ones. Thanks Greg for another amazing interview.

  2. Thomas

    If you, are falling behind in your expenses and are renting or you’re making mortgage payments, the writing is clearly in the wall.
    You might consider to ask a relative or friend if you can live in their garage. Sign a contract with them.
    Use a porta-potty and the yard hose. Buy what you’ll need to set up a kitchen, etc.
    Maintain the exterior of the house and the exterior/interior of the garage.
    If John Williams is right then garage living will soon become a popular option. Don’t be embarrassed as it’s much better than being completely homeless. Keep working and You find other ways to save money

    • Paul

      Good guest Greg.
      Thanks Mr Williams

      You have to include inflation in your annual revenue and expense forecasts. You must treat inflation as an annual fee your business or household pays into the economy. If inflation is 10 percent for example, that means the economy is charging your business a 10 percent annual fee and so you have to make sure your income and total assets grow at minimum 10 percent annually just to keep up, or your falling behind. Live simpler. Way below your means.
      Reduce costs to the bones.

      Paul from arkansas

    • Earth Angel

      Thanks Thomas! Your comic relief gave me a much needed good laugh. The sad thing is that what you suggest is very likely true and very good advice to those who may need it. The successful communist/fascist takeover of a once robust and free American economy (and the allowance of a criminal international banking syndicate free reign for over 100 yrs. by our compromised bribed and blackmailed politicians) has finally come to fruition now; thus sinking the American dream to unimaginable lows heretofore unseen by most of us living today. Pardon me for my rant of disgust and dismay at the place we now find ourselves in… I’m sure I am not alone here. UGH!!!

  3. Tal Salsa

    Mr. Williams says he does not see the FED cutting back on the money supply, but objectively that is already happening RIGHT NOW.

    The FED is destroying money at a current rate of about $100b a month.

    • Paul in oz

      Mr. Salsa, could you advise the source of the information from which you make the claim the fed is destroying money supply by $100b per month. The fed’s balance sheet’s asset peaked in April at $8.965t. As of October 4 the $8.759 it was a little over 2oob reduction is 6 months with the largest drop occurring from 9/13 to 10/4 and was for about $73b reduction. During that time (liabilities) deposits from institutions did reduce by around $700b. This implies net assets increased by over $500b reduction. With a reduction of deposits, that money is re-entering the economy. This implies that while they may have reduced circulation by $200b the money in circulation has increased by over $300b. IMO Mr. Williams is indeed quite correct.

      • Tal Salsa

        Total Assets on Sep 14 = $8833b
        Total Assets on Oct 5 = $8759b

        That is a $74b shrinkage in three weeks.
        Extrapolated to one month, and we have at least a $100b rate.

        I was right.

        By the way, even if we look at M2, we see an overall drop in money supply since mid-April of almost $400b. DEFLATION.
        For the last two months, commercial bank money supply is stagnant, even slightly DOWN (this is deflation, by proper definition).

        So, again, I have been proven correct.

        • Paul in oz

          That current rate may or may not be indicative … also what about the reduction in liabilities I asked about which added liquidity previously held by the fed into the market .. I am not fooled by smoke and mirrors and propaganda … a balance sheet has two sides and I have seen many creative ways to distort reality. Mr Williams has been a voice of integrity and facts for a long time … he is not making a definitive statement but his credibility is beyond reproach. Cherry picking facts is so unbecoming. All the best!

          • Tal Salsa

            “That current rate may or may not be indicative”

            It is not indicative, it is FACTUAL.
            You have been proven wrong by FACTS.

            “also what about the reduction in liabilities I asked about which added liquidity previously held by the fed into the market”

            This illustrates your misunderstanding of facts.
            The reduction in liabilities does not mean increase/decrease of money supply…rather a moving of money from one section to another.
            Yes, the liabilities went down, but the reverse repos went up.

            I was not cherry-picking.
            I simply proved you wrong with FACTS and that you do not understand the FED balance sheet.

        • Paul in Oz

          correction … extrapolation did not occur thus proven incorrect.

      • Tin foil hat

        The Fed is the greatest magician of all time.

        • Anthony Australia

          That they are – The Great Wizard of Oz!

      • Anthony Australia

        Hi Pauly,

        Richard Duncan mentions it in this interview I heard this morning, same as you I found it strange.

        • Paul in oz

          Hi Anthony, I find it kind of hard to believe Russia would blow up their own pipeline before they even begin using it … they must be so rich that they can actually reduce their money supply … lol Cheers mate!

    • Tin foil hat

      I believe Mr. Williams should have said he doesn’t see the FED cutting back on the money supply in the NEAR FUTURE.

      The whales are dumping US Treasury including the FED (since Saudis are not playing ball) right now to suppress inflation for the midterm election. Hence, there could be a meltdown coming here for the bond market. Since we don’t know how much derivatives are just floating around in the bond market ether, every time yields go higher, this time bomb gets closer to exploding (this has already happened to the UK gilts).

      As you had mentioned, the FED is tightening in the tune of $ 100B a month which will only pushes the yields up further. However, the elephant in the room is that the bond market is sitting on a powder keg and it’s all about confidence which is lacking around the globe at this point. If a meltdown happened, unless China (highly unlikely), Japan/UK/ECB (can’t even if they wanted to) or Saudis (fuggedaboutit) would step up, the FED would have no choice but to step in/print away and buy up all the unwanted Treasuries which will unleash the inflation demon.

      This is what happens when a market gets too big and everyone relies on derivatives to stay afloat. One big selloff could trigger a whole trail of other sell orders. It has already happened in the UK and the US is not immune. The FED will likely save the bond market at the expense of all existing dollar.

      If the bond market started to get a little shaky, the FED would have to choose between persistent stagflation, depression or kick the can down the road. I believe that’s why Mr. Williams said he does not see the FED cutting back on the money supply – in the near future.

  4. Elisabeth Levens

    My husband and I are small business owners. We struggle with getting employees. Where are they? Are they part of the 24% unemployed? We had three interviews “no show” and that has never happened. Will this problem get better?

    • stanley skrzypek

      offer more money……money brings out the best…..can’t afford more money……work Harder…..

      • rwmctrofholz

        You clearly aren’t a small business owner in this environment, stanley.

        • stanley skrzypek

          are YOU SERIOUS?…..If i cant get help….I did it Myself to Survive AND Thrive….you clearly aren’t a bright Small Business owner…in this environment, rwmctrofholz….

    • Paul

      Hi Liz
      I have that problem too. Give them Golden handcuffs. Pay more than the county employees.

      Paul from arkansas

    • Arms


    • Julia B.

      I wish you needed a text (book, copy) editor! I’d love to ditch the publishers. They are blackballing older, more experienced editors like me. Mentally and emotionally ill nut jobs who are decimating the lingua franca are now in positions of power and hiring. God help me and those in my position.

    • CJ

      I’ve been wondering if the missing employees are also the same people who were injured with the jab. If VAERS is correct, there are almost 90,000 people permanently disabled, or dead because of the injections. Supposedly adverse reactions are under reported to VAERS. We have no idea the real number if that is true. There is also the recent report of an 84% increase in death by heart attacks in working age young men. Could the coerced compliance to the jab here in the states be so that we would have a large number of people disabled or dead so that there would be a lack of workers? Then would that lack of workers be a reason for mass migrations of people willing to work for less wages ? Will those migrates vote democrat or republican? Conspiracy theory, I know. But how many past conspiracy theories are now fact?

      • LoyalWeim


        According to Steve Kirsch, the VAERS database is under-reported by AT LEAST a factor of 41x, so that 90,000 is more likely about 3,690,000 disabled.

    • Jeffrobbins

      You could try a retention bonus, instead of a hiring bonus, you could offer something at 6 months.

      • Kevin

        good idea!

      • Bobby Boy

        She will need both.

    • Peter

      Hi Elisabeth. The same problem here in Germany. When I walk through the streets I see littles notes everywhere with staff wanted, cleaners, cashiers, warehousemen, dentists looking for staff, electricians looking for apprentices. Everywhere. I had the same question as Greg: where did all those people go who used to be available for the markets? It’s a mystery. John was right: support partly from family and government, but that with rising prices? My imagination of times like this was always: people working three, four jobs. People lining up, sandwich men everywhere – ‘looking for a job, take everything’. Just to pay the bills. But it’s turned 180 degrees. Everywhere you look. I think John has it exactly right when he calls it ‘onging discouraged workers’. Maybe we can broaden that to ‘ongoing discouraged people’. Eventually times will change.

      • Pete+only

        Peter, I wouldn’t doubt that the so called unemployed actually receive far more money to stay home from government handouts, and in many European countries, (Canada included), they likely receive free drugs, free glasses, free dental care, subsidized housing, they don’t need an automobile to drive to work, so no insurance or huge gasoline bills, no car payments, no need for public transit passes either. They pay no income taxes, no property taxes, they probably receive subsidized energy payments as well. the list goes on. Their children might qualify for free college and university tuition as well. The question then becomes why wouldn’t you just stay home? Any small business owner just cannot compete with these government handouts, and you can sleep in every day, no shift work or working on weekends either.

    • Cece

      For real! My son and DIL have a small cafe and they have the same issue, or the ones that DO show up just want a check. You can’t expect things of them, like performing their duties, or putting their phone down. Same thing all over here. 2 pizza huts in 2 different smallish towns are carry out and delivery only because they can’t get help. JMHO, CoVid did a number on the human psyche. Entitlement seems to be the “thing” now.
      Kids don’t want to work and adults don’t want to have to juggle hours for 3 or 4 different P/T
      meant for high schoolers jobs to make ends meet.

    • Bobby Boy

      Who are your patrons? Can they not afford to pay a price that allows you to pay your employees a living wage? The whole situation reminds me of that cartoon where the two bankers are starring out the window at a bum and the one banker calls him a bum. The other says hey, that is my client. Big reduction in the standard of living coming. Anyone that can work already is. Why would they want to work for you? The can get their own small business stimulus themselves. Fifty years of socialism was a disaster for the country. Trust me, if you can do repair work right now there is no shortage of money to be made.

    • Bill P

      Maybe no one wants to work in crappy places for crappy pay which will get them nowhere.

  5. Johnny Cool

    Wolf Richter: Inflation dishes up lots of surprises. It has a life of its own. You think you got it whacked down, and then it rises from the ashes all over again.

  6. tim mcgraw

    Thanks for the interview. Always good to see John Williams.
    The sub rosa (cash) economy is where some labor is employed. No doubt the black market for goods and services is another reason Uncle Sam wants to ban cash.


    What are many long term unemployed people living on?
    For one thing in my state of Michigan, If you are on welfare or unemployed you may qualify for a grant thru Michigan works that will pay 7000$ for truck driving school. And a bottom of the line coarse. I know of one school that has 25 students per instructor, lousy equipment, and at times the student gets maybe 10 minutes in truck a day to practice backing skills. (not enough hands on). This sort of policy has led to egregious abuse of a system. And the schools just rake in as much cash as they can. and keep taking more Michigan works students. They push to get you tested knowing you will fail. and then get 200 bucks every time you test and its all being covered by “UNCLE SUGAR” thats just one that I know about. But state sponsored programs and schools like the aforementioned are all over the place. whether it be truck driving, medical tech . medical billing. when ever the money is there ,These schools seem to pop up all over the place. Oh yeah and the students get food stamps and some type of cash allotment . A system ripe for abuse.

    • Kevin

      Many “schools” are essentially fronts for federal dollar racketeering. I attended a technical schools at night while I worked full time as a orderly in a hospital(NY). While graduating gave me some confidence that I was able to turn into a 25 year self owned biz….the school was a thinly veiled racket. The sick thing is these are the struggling underclass…working their ass off to fi d their way up! Kids would take out federal loans after some mumbo jumbo. Worked for me…..but beware!

  8. Maria Das Santos

    Thanks Mr Hunter and Mr Williams a sobering look at the real numbers and the real economy.
    No matter how much truth Mr Williams brings to the fore, the liars in the government and shadow government will NOT face reality and would rather take the USA and her people over the cliff of destruction rather than pull back and have an adult conversation about the economy and the promises made to voters.
    Here in the UK,now a terrorist state thanks to our MI6 and Liz Truss, we are looking at a collapse in our currency and our security. Whilst our property “may” look cheap the security of the country is now dubious at best. Our infrastructure has now been laid our for destruction thanks to our meddling in the Ukraine. Any outage now will be blamed on Russia no doubt rather than the incompetence of Liz and Kwasi .So anyone keen to buy a house in London,better come with bomb proof trousers and mirrors on sticks . We have decided to go to war without telling the people we are doing so. Gee thanks MI6 and GCHQ.

  9. Paul in oz

    corrected version
    Mr. Salsa, could you advise the source of the information from which you make the claim the fed is destroying money supply by $100b per month. The fed’s balance sheet’s asset peaked in April at $8.965t. As of October 4 the $8.759 it was a little over 200b reduction is 6 months with the largest drop occurring from 9/13 to 10/4 and was for about $73b reduction. During that time (liabilities) deposits from institutions did reduce by around $700b. This implies net assets increased by over $500b. With a reduction of deposits, that money is re-entering the economy. This implies that while they may have reduced circulation by $200b the money in circulation has increased by over $300b. IMO Mr. Williams is indeed quite correct.

  10. Marie Joy

    After this election, (food) inflation will take off like a rocket.

  11. Marie Joy

    “It’s worse than they are telling you. Millions Will Starve” on the Yanasa TV channel on YouTube published 10/11/22. Recommend.

    • Jeffrobbins

      About 3 years ago i spoke with both of our pastors- and it is an assembles of God church. Like sometimes tounges, but not to weird. So what i had to say shouldn’t have been that outrageous- i observed some word changes in the KJ bible. Belongs to Jesus and He can change what He wants. Grain has changed to corn- as if it always was that way- even the ones on my shelf, and i have lost sleep over this. One pastor assured me i was mistaken the other has been building garden boxes. There’s a verse in Amos that says God surely tells his plans ahead of time to his prophets. I don’t claim to be a prophet, just observent, maybe a watchman. Can you Christians recall the Lord’s Prayer? I remember in Luke the line ‘forgive us our trespasses as we forgive those that trespass against us’. A good Methodist should be able to tell that one. I contend we are going to be shacken to the core and brought low. Food security is certainly going to be an issue. As for the timing- IDK. I have posted this a few times before. The rest of the story is too long to type out.

      • Ken Brodeur


        Get a copy of an old KJV bible. Remember George Orwells, 1984 as Orwellian speak is at the gates, so to speak. Words like ‘democracy’ and ‘anti-semitism’ are used to control. The USA is a constitutional republic and most countries today are republics, such as Russia and China.
        Do not trust the government EVER! Trust in God as our money used to say and get an Old King James Bible from the 1950’s if you can.

        • Jeffrobbins

          My mom has hers from 56. Still says corn, as if it always was.

      • paula

        The correct words Lord’s Prayer have been changed from “forgive us our debts as we forgive our debtors” to “forgive us our trespasses as we forgive those who trespass against us.”
        Do look up the significance of the original words to the changes in this prayer; You will be shocked & wonder what other changes have been made.

  12. stanley skrzypek

    Greg Hunter…. will….. eventually be Rewarded for his Patriotic and Heroic ability to have a Truthful, Information Packed News Website, with a Personality and Intellect along the lines of the Greatest Journalists that grew out of Americana, and his Ability of rounding up the High Level Thinkers to Interview…. The TRAITORS at All of the other FAKE NEWS Channels Then and Now look like Obnoxious Clowns in Comparison……..

  13. Russ

    The Globalist snakes have an answer for inflation – just kill the people – kill enough of them – and demand for goods and services will drop to acceptable levels even with the Fed still printing Trillions for the Globalists wars (which will kill even more people) – now why would US government criminals go along with such evil plans by the Globalists? – because our crooked politicians in Washington “stole all the money from our Social Security Trust Fund” (thinking that most people would be dead by 65) – but they screwed up big time (as people began taking vitamins and living longer) – the ciminals have tried to have people take their retirement at 67 or even 70 – but so much money was stolen by these evil crooks that even with these measures the Social Security Trust Fund is going Bust – so they needed a way to kill the people off before retirement and came up with a “jab” Kill Shot bio-weapon (which is very successfully giving young people heart attacks) – so far “worldwide” these DemonRats have succeeded in killing 20 Million people – but these figures will go even higher as 2 Billion people have been injured worldwide and will eventually be dying off – but to speed things up – these DemonRats need a nice nuclear war with Russia (which can kill off additional Billions) – will the American people remove these DemonRats from office this November? – the polls show we will – therefore – we must be prepared for the DemonRats to stage a false flag Cyber Attack to turn our lights out (and blame it on Russia) – the DemonRats will likely then try to tell us that the US elections must be postponed (or canceled) because they will be very busy launching a thermo-nuclear war against Russia (for turning our lights out) – and then they will hope and pray to their God Lucifer that the Russians counter-attack with thermo-nuclear weapons and kill off 95% of the US population (who then “won’t be able to file for Social Security”) – and the criminal DemonRats who will have nothing in their underground bunkers – will be laughing and happily joking about how they got away with stealing Trillions of (now worthless fiat Fed IOU’s) and thanking their God Lucifer that they are still happily living the good life deep withing the Earth and still very proud of their very close relationship with their Demon underworld God – “SATAN”!! –

    • Prospector

      Reading that I can only think of the Dead Kennedys song – ” Kill The Poor ”

      Efficiency and progress are ours once more
      Now that we have the Neutron bomb
      Its nice and quick and clean and gets things done……

      • Cry Me a Ruble

        Wow the Dead Kennedys. That certainly brings back memories. The song for me that is almost, if not prophetic is “Government Flu” from 1982. Completely weird how it sounds like today.

        Government Flu

        We got a drug
        We’re gonna try it out on you
        Won’t make you die
        It’ll getcha just a little bit sick

        Got a head cold, got a chest cold and it’s three days old goin’ on forever
        Make you hazy, make you lazy, drive you crazy
        For days and days and days and days and days and years

        Barely got the time now
        To stay on the job
        Double up the dosage in your water supply
        Make you even sicker till you’re slippin’ away

        Getting all depressed, it’s getting all your friends
        You can’t get it up for nothing that’ll rock the boat


        The government flu
        The government flu
        The government flu

        Slip it abroad
        Keep a-slowin’ down the USSR
        But meanwhile
        We’ll keep an eye on what it’s doin’ to you

        Got a head cold, got a chest cold and it’s three days old, goin’ on forever
        Make you hazy, make you lazy, drive you crazy
        For days and days and days and days and days and
        Days and days and days and days and days and
        Days and days and days and days and days and years

        The government flu
        The government flu
        The government flew

    • Tony Bert

      Spot on

  14. Russ

    What I would like to see is a Desantis- Tulsi ticket in 2024!! – Tulsi has left the DemonRatic Party (so now she is free to become a Republican)!!!

    • stanley skrzypek

      Why?….so President Donald Trump can take a “back seat” to a weaker ticket?….not saying Desantis – Gabbard are not looking out for America……it’s that… JFK….they don’t stand a chance….how long till they become “just a puppet” of the Elites…… or …….Worse……THINK about it…..

      • Russ

        I’m looking for a “Trump alternative” because Trump won’t stop supporting the Kill Shot!!!

        • stanley skrzypek

          He just wanted to “Cull the Herd” of stupid Indoctrinated Low IQ democrats out there…….He Knew the “Smart Ones” would not be taken in!……

    • Russ

      Democrats Arise to remove the Demons and Rats from America!!! –

      • Russ

        Remember that big Rat Hillary – well she and her buddy Soros is in Biden’s ear “pushing for Nuclear War with Russia” – – these DemonRats actually think they will win a Nuclear War with Russia because “their computer” say’s so – but DemonRat Generals are also imputing data into the computer (“garbage in – garbage out”) – Putin will not allow the West to take over Russia – he is getting his Poseidon subs ready (which can create a 1500 foot high Tsunami on the East, West and Southern Coasts of the US) – so when the Nuclear War is won by the US – the only people still alive will be those living along the Canadian border – is that acceptable with everyone??!! –

    • Johnny Cool


      Is Alex Mooney a friend of yours?

      Last week, U.S. House Representative Alex Mooney (R-WV) introduced the Gold Standard Restoration Act. The bill looks to peg the U.S. dollar to gold to address the growing inflation threat, massive deficit spending and instability within the U.S. monetary system.

      “The gold standard would protect against Washington’s irresponsible spending habits and the creation of money out of thin air,” said Rep. Mooney in a statement.

      Although the proposed legislation has some grassroots support, some political analysts see it as a long shot.

      • Russ

        JC – H.R. 9157 “The Gold Standard Restoration Act” will “define the US dollar as a fixed weight of gold” as required by our Constitution and move American monetary policy back toward stability – only after this is done will I hold US dollars as a store of value – which will likely make Stan a happy camper – unless – being the contrarian that he is he then begins to trash the US dollar (because it is backed by gold he hates)!!

      • Earth Angel

        Check out and read how to sponsor an issue. This could be a path forward avoiding digital slavery; it certainly makes great sense to me at this moment in time especially with the looming collapse of the endlessly printed fiat $$$$$$$$$$$$$$$$$$$$’s. Worth giving this concept some serious consideration imho. Imagine the possibilities..

    • BDS


      I am not sure if Tulsi is a sleeper globalist. She has been a WEF leader and CFR member. She sounds good but her past decisions have me not to trust her. Always had my eye on her for these reasons.
      Tusli was listed in the collection of “Young Global Leaders” at the World Economic Forum. Why is Tulsi Gabbard Part of the Globalist Council On Foreign Relations?

      • Russ

        Good questions BDS – but from what I hear her saying – she has changed direction and is against the elite Cabal running Washington (the WEF) – lets see if she makes this even clearer in days to come – but just her calling on all Democrats to leave the Party is a big victory for humanity!!!

      • johnny sic

        Tulsi is not what he appears to be. 2 scars on neck indicate voice change to much higher octave and to shave down the Adams Apple. Unfortunately, Tulsi has a male skeleton. Notice this neck scaring on many, many movie stars and an increasing number of politicans. Watch this on Mr. Taylor Swift.

      • Pete+only

        Nice catch BDS, similar set of circumstances for Canada’s newly elected Conservative Leader Pierre Polivere, as he has the same credentials as Tulsi. Coincidence? Will need to keep our eyes out for these politicians.

    • andrew

      Sounds like the democRATS are leaving the ship. Make no mistake: Tulsi is still endorsing the green new deal and jabbing.

      • Russ

        Andrew – I think a light went on in her brain “and she has turned more rational” she should and probably will soon turn away from those previous untenable positions – that is my hope and expectation!!!


    You know Greg, As I sit back and reflect.. I believe the Mayan long count calendar was about 10 years off.

  16. Robin

    A real hero: John Williams !!!

  17. William Mitchell

    Fed chairman Powell should be replaced with Robert Hunter Biden.

  18. Johnny Cool

    Imagine that!

    Jackie DeShannon (1969)

    Think of your fellow man
    Give him a helping hand
    Put a little love in your heart

  19. Marie Joy

    Like minded people need to come together.
    Grow, everything you can, inside and outside. Herbs, sprouts… Think outside the box.
    Figure out ways to replace fertilizer.
    Raise meat, inside, out of sight.

  20. Barbara

    With all this stocking up, a few will have cellars filled with food while everyone else will have nothing. Stores can hardly keep up with demand as it is. Why exacerbate the situation?

    As far as the government rigging the CPI, they probably do this every year to keep COLA’s down.

  21. tim mcgraw

    I just bought a few US Liberty Silver Dollars. With the premium, taxes, and shipping and handling; it came to over $40/ounce. That’s a lot of vigorish.
    I suggest people get out of debt, and buy tools, seeds, food, and shelter, before buying gold or silver.

    • Russ

      The fact that it takes so many US dollars to buy one ounce of silver – shows how worthless the US fiat dollar is getting – soon people will be demanding hundreds of fiat US dollars (for them to part with an ounce of their silver irrespective of the bankers manipulated price)!!

  22. Paul Stine

    Greg, I am having similar reactions as you did. Frankly, I am sick to my stomach. You know, other than Jesus Christ it seems that there is no way out of this mess. I am praying for our country, our legislators, and the people who are responsible for budgeting. What a daunting task this must be. I actually feel blessed that I don’t understand world economics. I am happy to turn everything over to my Lord and Savior. He is my only hope. Kind of like the weather, Jesus said he controls it. To me, that means the green theories like AOC have in mind can never work. There is just not much faith involved in the Democratic way. Thank God for His son and the Holy Spirit. Once the Holy Spirit is removed there will be total hell to pay. Thank God for Mister Greg Hunter too, my local hero.

    • Michael

      I bought a very large amount of physical fire wood last November and now the firewood is eight times more expensive better than most investments but still holding my physical pet rocks and real estate.
      Regards everyone
      Michael in Central Europe.

  23. Zack Masson

    Thank You Greg for having John Williams on your
    program, he is always on point.
    What is most troublesome are the comments that Martin Armstrong
    is making regarding the potential for nuclear war. I pray it
    does not come to fruition.
    God Bless

  24. Lesley

    Thank you both, Mr Williams and Mr Hunter, Good interview.

  25. Robert Coleman

    The same holds true in China where I have lived the past 20+ years.
    Of the 10+ Millions College Graduates in 2022 this past summer less than 20% have found gainful employment – and they are the College Graduated Students with either Bachelor or Masters Degrees between ages of 22-30. Over 200 Million Unemployed in China – that is an estimate from ONLY Major Cities – not rural areas. Born in STL MO USA

    • Chris

      Interesting comments Robert. I lived in China from 2005 to 2019. I left to take a short holiday back in my home country, Australia, in November 2019. Then Covid arrived on the scene and I couldn’t return to my job in China. The fascists running Australia prevented departures (not just arrivals) by closing the international (and later state) borders (the real Nazis are the state premiers, which are like state governors in the US). Talk about risk aversion on steroids. I just had to retire. I keep in contact with friends there, but messages are mixed. Some say it’s totally different from pre-Covid and is more totalitarian, with Xi’s zero-Covid psychosis running the economy into the ground and making already serious economic problems worse. Others say it’s not too bad. I lived all over China (mostly north, central and western provinces). It’s hard to say which is worse these days. The fascist in the west or the fascists in the east. Either way, ordinary people are screwed by these demented, psychotic loons and their fixation
      with their Orwellian dystopias.

  26. Robert Kaplan

    I like Mr John Williams. He’s another intelligent individual.
    Thank you for your time both a good video and real economic presentation on real GDP figures. Blessings to you both.

  27. Roger Stamper

    tks for post john greg

  28. Barbara Hersom

    Will real estate be a safe haven as the prices have been artificially inflated because of the low interest rates

    • Jeffrobbins

      Values are dependent on interest rates, most people finance their purchase. It would be a fair conclusion that the FED wants a reverse wealth effect. Most of a wealth effect is driven by rising house and stock market values. I think they will push until the politicians start threatening- something. There is also the possibility that if inflation stays elevated and interest rates are less, that the rates will push the inflation rate even higher because its a true negative (real) rate.

    • Marie Joy

      How will you pay your real estate taxes? Taxes have always been a way for government to steal your property.

    • Russ

      Speaking of real estate being safe – people living near the New Madrid fault line should consider this – – those people who depend upon wheat and other products being shipped down the Mississippi “cheaply on barges” will likely find they will be paying much higher prices for things (if they have to be shipped by truck or rail)!!

  29. Earl Thornburg

    Greg, While we all starve for truth, you are always able to provide nourishment. Great interview with John Williams he is such an honest credible source of data.
    Thanks, Earl Thornburg

  30. David

    Hi Greg, I am having trouble again opening up this important video. I had same problem several videos ago and a few others had same problem of not being able to hear the video here on google. When i switch to another server i am able to hear the video. The words show up and your picture an his and that is it. I listen on your sight but i use goodle

    Thank you for your help

  31. Prospector

    Latest interview with Bo Polny. –‘ They want you broke ‘

    David Nino Rodriguez channel = you tube
    Twitter – @ ninoboxer

  32. Jeffrobbins

    For government payments- i recently went online to sign up for insurance on our state exchange (Washington State). It’s been a couple weeks and about one week ago we received an EBT card for each of our two boys. Each card had 390 credited to it. I did not apply for or requests this benefit. With mixed feelings, we went to a store we buy most of our groceries from and loaded up on a number of things, and will go back to sock on more. By the way, they were almost out of Italian Stewed Tomatoes and were when we left. Stock up folks, a lot of the items i looked did not have full shelves to pick from- a certain brand of chili we like only had the smallest cans. This years food is last years product and with fertilizer and diesel going up- the least hint of food storages will cause panic buying. Ultimately, stocking up is a short term solution, and we all need to consider producing some food- i like chickens for the eggs and an old fashioned garden. -also a couple years ago i built a sturdy shelf/bench in our pump house to store extra canned goods and a couple metal trash cans for soft package items- mice-. Hope this helps some one.

  33. Thomas Malthaus

    John Williams uses a different methodology, but his conclusions are based on government-supplied statistics. Am I missing something?

    I believe inflation is worse than his numbers indicate.

    • Andrew Harrison

      I think John Williams calculates his numbers using the government’s old methods, and yes as you point out with their statistics (lies, dammed lies and statistics! is a fair observation). However, despite the dubious nature of ALL statistics (Ludvig Von Mises, goes to great Length to debunk the use of statistics in economics), I think the value of John’s work is that it allows us to some extent to compare current circumstances with historical situations, such as the great depression, the oil shock, the great financial crisis and so forth

  34. Jerry

    The meltdown in Europe continues.

    It’s funny watching these globalist soft sell what’s really going on.
    In their distorted views this global recession is only temporary. Really? The banks have created so much debt with their money printing and reverse repos that they can’t see there’s no way out of this mess without a reset. Derivatives alone pose the biggest threat when the notes get called in. Don’t think for a minute they won’t call their notes due when push comes to shove.

    • Andrew Harrison

      I think John Williams calculates his numbers using the government’s old methods, and yes as you point out with their statistics (lies, dammed lies and statistics! is a fair observation). However, despite the dubious nature of ALL statistics (Ludvig Von Mises, goes to great Length to debunk the use of statistics in economics), I think the value of John’s work is that it allows us to some extent to compare current circumstances with historical situations, such as the great depression, the oil shock, the great financial crisis and so forth.

  35. James PTY

    Everything William’s say is true, but at some point people have to realize all professional commentary regarding the economic geopolitical game-board is going to sound exactly the same, since it focuses on bad news. This is because the economic geopolitical game-board is, oddly enough, bad. Studying what constitutes a problem may or may not provide an understanding of why it occurs. However, study with descriptive commentary of what should be (at this point) an obvious problem definitely does not produce resolution especially when government is identified as the origin. Once a problem is recognized all anyone effected by it wants to learn is how to mitigate the associated risk, and hearing buy metals and canned food once or twice is enough. Professional Risk Management whether financial or physical has sets of basic principles with actionable strategies being fluid. USA WatchDog viewers would be well served by more guests specializing in lateral thinking that provide actionable incites.

  36. Paul from Indiana

    The FACTS are brutal: The Federal government continues to run $1 Trillion deficits; the Federal Reserve must “monetize” this shortfall, and therefore the Federal Reserve is still inflating, regardless of what they say. The Federal Reserve is also increasing interest rates while still inflating! Next year, interest on the debt will become the single-largest line item in the budget. The government is having to absorb an8+% cost-of-living increase (COLA) in its entitlement payouts. This is a no-way-out scenario. Our choice is a cataclysmic, 3rd-word style of default, or runaway inflation, followed by hyperinflation. It appears the Federal Reserve wants to try one last round of demand destruction (recession) before the whole mess caves in. The simple, naked truth is we can no longer afford ourselves. Best always. PM

  37. TJZ

    Good morning Greg,

    I don’t believe that I have ever listen to an interview where Mr Williams recommended precious metals as vigorously as he did today! Wow! That in and unto itself is a screaming buy!
    On a personal note, just yesterday I, being retired, was offered immediate employment while checking out at an office supply store. Go figure!

  38. Doug W

    Nixon was an Idiot !!!! But, I love him, that’s why I became a Republican because he was a crook crooks . That being said. When Nixon took the U.S, he did not think what he was doing. He should of kept the U.S on the gold standard , when worthless countries, like France came with their dollars ( which they had for a hand out from the U.S anyway.) he should of turned around and bought gold from U.S. miners. IT WOULD OF BEEN ANOTHER FORM OF A PHOZI SET UP !!! Again, nothing kept that worthless countries, like FRANCE from going out and buying gold on the open market.. I think the U.S could do the same thing today, but there would not be enough gold do it and the cost of gold would go to $50,000 to $100,000.

  39. Prospector

    @ Radio Genova

    ‘ They dont want to freeze for Zelinski ‘ – Mass protests in Germany against EU , NATO
    Oct. 11.

    and then ….. Major Russia – Germany Druzhba pipeline goes down with ‘ leak ‘

  40. Andrew Harrison

    John Williams, always a great guest, thanks Greg!

    It seems the economy never really recovered from the GFC, and we’ve been in a disguised depression until today, as another great guest (Geral Celente) observes ‘when all else fails they take you to war! Notably the 75 years high in inflation takes us back to just after WWII. Seems COVID and Ukraine have been the equivalent economically, and perhaps in casualty rates to come, of the great depression and second world war. Although already high, injection adverse reactions and battlefield casualties will I fear be much higher in the next period. I wonder when all this carnage is over whether the general populace will realise that to have sovereignty, they must take back their governments and the power to create money from the criminals who hold power?

  41. David Tiger

    There has been a plan to depop the world for a long time, for the clearest one page example of said plan see Deagel 2020-2025 forecast if you can still find it. There is an ancient war going on now, duh. Killing the economy and destroying energy infrastructure, food processing plants, crops and the housing sector is part of this Ancient War and depop event. Everything in this storm is scripted by design. Get it yet!!

  42. Robert

    Greg did you ask what the current today CPI index is based on the method of determining it back in 1979? the government says its what 408; so if the government is playing games with the data it would be much higher I am wondering what that number would be. I looked on the web and did find this information.
    any info on this.

  43. Cytek

    Great video Greg, it’s all happening before our very eyes. This just out. Pfizer Exec Admits Under Oath: ‘We Never Tested COVID Vaccine Against Transmission’

  44. Laurel A Henderson

    There Is no doubt John Williams tells it like it really is, a great economist. The term stagflation comes to mind, we heard a lot about that in the late 1970s. Stagnant economy without growth and soaring inflation. But as John said, Powell is looking to destroy the economy.
    God bless and thanks for your reporting,

    • Greg Hunter

      Thank you Laurel for all your support!

  45. francis m reps

    Hugo Salinas Price’s analysis of precious metals pricing ; points out that Market Factors have a negligible influence on market prices. Your guest as well as yourself have accurate insights into the current monetary issues. A major problem in this presentation is the fact that both of you gentlemen interchange the word Money and Currency ; as if they are the same things. Money is fungible and valuable. Currency is a representative of money. currency may ; or may not be real. the US dollar is Currency. It may be created by a book keeping entry. Money is different because it is real and tangible ; like gold and silver. Our Founding fathers were very specific about the use of “Money”. It is confusing to many people when the differences between money and currency is obscured. Accurate language is needed if any ideas are to be enunciated correctly. This may seem to be nit picking ; but Von Mises and Murray Rothbard ; as well as Jaques Reuff would consider my complaint a valid one.

  46. Prospector

    Greg, I’m thankful for your real reporting and actual journalism. Listening to the car radio , the weak Rush Limbaugh replacements were blathering on about nonsense like sports and beer chugging and when they did get political at all , it was 2 week old news. Totally . Useless.

    I have a question for yourself and future guests. While listening to a popular U-Tube economist today was a subject heard nowhere else.
    He spoke of the ” transition ” and much unreported DEVALUATION that took place when the Euro took over versus other currencies. The Deutsche Mark value was cut by 30-50% in the ” exchange “. Not unlike FDR’s gold recall and revaluation from $ 20 to $ 35 ‘dollar’ an Oz. Years ago there was talk of a North American Union currency being considered for ALL of US-Mexico-Canada. It was called the ” Amero “.
    What are your and your guests thoughts on this 3 card Monte – switcheroo and its possible combination with CBDC , ‘ central bank digital currency ‘ the big club wants to jam down our throats ?

  47. pbd

    Greg – thanks for another excellent interview – Mr. Williams’ analysis of FED fakery is spot on.
    The Fed has multiple “liquidity” problems it does not want to acknowledge. Folks do not want the “risk” of locking up money longer term – for example in the U.S. 10-year Treasury (aka there is a liquidity issue with this financial asset). Banks are dumping 10-year Treasuries and parking money in the FED reverse-REPO facility – rather than putting their cash into (lending) in the interbank REPO markets – this means there is a lot of cash coming out of the financial markets but it is not being used – in the public markets (i.e. private sector lending because of risk) – this makes USDs tight in the Wall Street economy (and international financial markets) – aka this is a “USD cash liquidity” issue.
    As an aside – remember – cash is already tight and getting tighter in the Main Street economy because of the FED raising interest rates (aka the Main Street cash liquidity issue).
    So, on the other side of the coin – the FED must inject cash liquidity to keep financial markets going by using its REPO facilities – i.e. lending cash out (overnight) to those that need USDs – because parties that are cash-heavy from dumping 10 year Treasuries would rather park money with the FED (via reverse-REPOs) than lend to third parties (via the interparty REPOs) because of risk and/or lack of available risk free interest rates. FED covert quantitative monetization of U.S. Treasuries at this point cannot carry all the freight re. propping up market liquidity (I think).
    If in a crisis, push comes to shove – the FED will favor keeping the domestic U.S. markets “liquid” (e.g. keeping Jamie Dimond at JP Morgan happy) with injected (printed) USDs over the corresponding foreign/international markets (borrowers). I think that is why the FED on October 21, 2021, created two new specific REPO facilities – one to service (lend printed digital currency) to domestic institutions (“Standard REPO Facility” or SRF) and another for foreign institutions (Foreign and International Monetary Authorities Repo Facility or FIMA REPO facility). When the SHTF the FED can now more easily discriminate between who it supports with REPO cash infusions (domestic vs foreign) by adjusting the rules for a given REPO facility.
    For now, foreign banks can park excess USDs in the FED reverse-REPO facility. This was encouraged by the FED in June of 2021 by increasing by 5 bps (from 0 bps to 5 bps) the ON RRP rate (the interest paid by the FED on deposits into the overnight reverse-repo facility) – which is part of the current strong USD “beggar-thy-neighbor” strategy that is screwing over the negative interest rate policy of the E.U. Central Banks.
    But at some point the next step (perhaps) will be for the FED to implement rules (e.g. bifurcate the reverse-REPO facility) that allows it to discriminate between domestic and foreign banks and force the latter into more risky investment loans of USDs – aka this would be an indirect stimulus policy that burdens foreign USD holders.
    The USD dollar hegemony will be leveraged to the very end – when the USD Ponzi scheme finally collapses – and everyone (domestic and foreign) holding USD denominated assets in the system get thrown under the bus. The FED is just playing for time to favor domestic elites – that are buying real stuff, building bunkers and assembling security (hiring military mercenaries) to defend the same.
    Best of luck all.

  48. rb

    As much as I hate to say it, we really need to have deflation, let the free market inter the arena.

  49. Matt

    Timely guest considering inflation is on everyone’s mind. Thank Greg!

  50. PersonaNonGrata

    Love John Williams. Maybe not as lucid as he used to be but his numbers tell the awful truth about the collapse of the financial system.

    Great interview about the situation in Ukraine with Judge Napolitano . . .

  51. Susan R

    I have been watching John Williams for many years here and although things are bad and not getting better, confirmed once again by John, and perhaps even worse than we thought, I am not overwhelmed. I would rather know the truth than pretend.

  52. Paul

    There are only three ways to pay the unpaid bills of a country. The first is more taxation. The second is the canceling of debt. The third is inflation.
    Tough times ahead.

    Paul from arkansas

  53. Corey

    Amen brother!! God Bless!! 🙂 🙂

  54. Jimmy

    John is losing weight! Good for him.

  55. Jeffrobbins

    Great show Greg- I try not to miss any of your shows. Have you ever considered a how to video with farming/ gardening basics and other practical stuff like canning or smoking meat? For example; i have a flat spot next this pond we put in. If we pumped water out of the pond should just flood that area or make rows? And theres not much organic type material- what would be the best first crop? Maybe the county extension office is what you might say? Maybe there are some great ideas for rodent control? Just a thought.

  56. Michael

    Greg, thank you. I really appreciate John Williams, his integrity, his deep understanding of economics and economic statistics, and his insights. It is truly a treat learning from your interviews with him. On a different subject, you should consider having Karen Kingston on again. Her latest analysis represents a tremendous synthesis of everything we have learned about the CV19 shots, their makeup and purpose, and brings great insight to the tremendous national security threat – not just public health – threat that these shots represent. Her insights on the national security threats closely parallel Naomi Wolf’s research on the Chinese connection to these shots. See her recent interview with Mike Adams:

  57. Ed

    John Williams, like Peter Schiff, has been predicting “hyper-inflation” for years and years and years now…and yet here we are w/the dollar near all-time highs…

    • James Kolb

      LOL! The dollar at all time highs compared to what? Time to wake up. lad!

    • Robert F

      Look up Rand report, on the war in Ukraine and on Europe.

      $9 trillion in capital flows to US banks from Europe and also, emerging markets being killed by the intentional attacks on oil.

      and read pbd’s comment above.

      All by design,

      No one in their right mind reallt thought these pos would start ww3 to cover their failing ponzi scheme

    • Bobby Boy

      If you could only eat the pound and live in the yen.

  58. Jeffrobbins

    An interesting thought; when the settlers came to Jamestown they were not prepared for ‘real’ living and eventually faced starvation and death was at hand. At one point they started to sail back to England but were met by the incoming ship in the Chesapeake Bay and ordered back.- How on Gods green earth could they have starved set up on the James River near the mouth to the Bay? Even if you discount oysters, clams, and crabs, there were lots of fish in the river and one only need read the Bible to know fish nets have been around a long time. How about a Fowler’s net? I contend that this lesson is lost to us, but we can see then and now what results there are when the people at the top/ decision makers, have lost any real connection to everyday living. It’s a great thought experiment. As a side note- i have wondered what those little tweetie birds taste like- there must be a hundred of them helping my chickens eat the scratch.

  59. Marie Joy

    Desperate people do desperate things and most are not desperate, yet, but we’re getting there. I’m seeing things I thought I would never see in America.

    • Bill P

      Like closing down all the elementary through high schools in the country?

  60. Wolfie

    A very interesting, must-see video on the vaccination scam/crime. Sorry, I could not find it on youtube. Below is a link to WSS,

  61. michele

    Of all the financial experts you host Greg, John Williams is the most capable. Honesty and integrity are part of his very being.
    I have faith in his opinion and information.
    You have done us all a great service by interviewing Mr. Williams.
    God Bless

  62. Doug W

    The website, , was an article, “French general pay tribute to the unvaccinated : they embody the best of humanity, they are superheroes.” Hurry because the articles are up only for a day. ( Thursday) ( And I call FRANCE a worthless country ……… shame on me !!!

  63. Davey Goliath

    I keep wanting for Vlad Moses to come back down the hill to kick Joe Dathan’s ass again.

  64. MK Sansone

    Hey look, Greg, the “gold market is rigged”. Which begs the question: Why haven’t the gold pundits been speaking this truth?

    • Greg Hunter

      Where have you been???? We all know it’s rigged.

  65. Robert Bollow

    I think the unemployment rate in the Great Depression didn’t include women and may not have included farm laborers so with 2/3rds of people the on farms and half being women the unemployment rate then can not be compared.

  66. Pete+only

    Very important breaking bomb shell news + evidence has now been revealed by the Saudis that Biden preferred that they hold off with the oil prodction cuts until after the U.S elections.

  67. Chief Forked-Tongue

    If Alex Jones was black the courts would of awarded him money and the plaintifs would be in prison.

  68. eddiemd

    Big time propaganda news presentation by Milley Vanilli and Mr. MIC Austin.

    Milley outright lying in his opening remarks.

    Winter warfare sucks. I have been in Brimfrost Alaska January 1985, Vermont February 1985, Fort Drum Jan/Feb 1986, and New Hampshire February 1991. And these were peacetime exercises.

    Ukraine this winter will be miserable.

    • Johnny Cool

      Austin: The international community remains committed and dedicated to protect Ukraine’s interests.

      Oh really? What a bunch of baloney.

  69. john beasley

    John Williams is the best. His analysis is always down to earth and logical. He is great. Thank you for having John Williams of Shadow Stats on your program. God Bless you both.

  70. Nicolas

    Always interesting to listen to John Williams.
    Besides that, I hope in 2023 he will upgrade his mic. I have noticed he finally changed his webcam, and that’s much better.

  71. Chaz Rupret

    Greg really appreciate all you do and the work you do behind the scenes that we don’t see.. You bring on some great people great people and have a great way of bringing out the facts clearly in the conversations you have with them. Is there a guest you could have on that click that could talk to us about how to protect Are retirement plans. 401ks and IRA’s and KEOUGHs Where the money is held prisoner under pain of exorbitant withdrawal fees

    • Greg Hunter

      Let’s cut to the chase here. If you are in the stock market, you are participating in a gigantic Ponzi scheme: Your money is at risk and trying to get some sort of magical tax break in the future is a total fantasy. Please tell me when you get that low low tax rate in the future? it’s not going to happen. In my humble opinion, gambling in a Ponzi is going to deliver a very hard lesson about risk. If you want to protect your savings, then cash out, pay the tax and penalty, get your money, and pay off everything. Then, and only then get a core position in metal. There is no magic pill to make you rich–risk free at a low tax rate. You better get busy as this fun is not going to last long.

      By the way, rich people do not have 401-k’s. They have direct control of their money at all times. Think about that.


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