Charles Hugh Smith explains why the U.S. economy is so screwed up

SBTV spoke with Charles Hugh Smith, author and the editor of the Of Two Minds blog, about the startling parallels (e.g. debasing of currency, lack of strong leadership, move towards populism, etc.) between the decline of the Roman Empire and America.

Discussed in this interview:07:33 Central banks created financialization as the foundation of wealth now10:25 Comparing the decline of the Roman Empire and America17:52 Leaders are no longer focused on common good23:39 The Nixon Shock started the decline in living standards28:50 Healthcare and education are cartels36:01 Global phenomenon of increasing growth by increasing debt40:57 Past the point of no return42:20 Preparing for the coming collapse

Charles Hugh Smith writes the Of Two Minds blog which covers an eclectic range of timely topics: finance, housing, Asia, energy, long-term trends, social issues, health/diet/fitness and sustainability. From its humble beginnings in May 2005, Of Two Minds now attracts some 200,000 visits a month. Charles also contributes to AOL's Daily Finance site and has written eight books, most recently Money and Work Unchained.