Russia Today's Kevin Owen talks with Anthony Wile, founder and chief editor of thedailybell.com, about Washington's latest deal to raise the US debt ceiling and avert a potentially devastating default.
In this live interview, Wile tells Owen, "I hope that it [the debt ceiling debate] has opened people's eyes so they can see in front of them the crisis that is looming. ... What we've had so far is just a warmup act and if people are paying attention, then that means people will be able to take individual steps to aviod the calamity that is in front of us. ... People can no longer just turn a blind eye to the amount of debt that's been artificially created and the disastrous effects that are coming home to roost."
Wile continues, "The entitlements need to be slashed and military spending overseas has got to stop. America has to rein it in and people have to get down to reality and realize that unless they do, the whole thing is just going to be one big debt balloon that's going to explode over America creating the worst financial hurricane that the world has ever seen."
Owen asks Wile, "What if an agreement isn't reached before the deadline, what then?" To which he replies, "It will. It'll be reached and I don't think there is any shot that it won't be. They have all the ammunition they need on both sides of the aisle to act as they usually do, which is as one aisle. The Hegelian dialectic is well in play here and this has just been a charade."