US Economy and the breakdown of the Financial System

The speaker discusses his prediction of dire economic news in the coming months to years and mentions a few fundamental drivers for this which cannot be ignored.  He cites a few reasons for this coming breakdown.  First, there is cheap overproduction in the world's marketplace which is occuring at viciously competitive prices.  He states that China, India, and the rest of Asia have become forces for cheap overproduction. 

Secondly, he suggests that over 2 billion workers have entered in the workforce and they work for 75 to 90% less than the workers in the United States.  To survive, US companies must move operations overseas and permanently move jobs.  The middle class is being eliminated. 

He suggests that the Fed has created two massive inflationary bubbles in stocks and real estate to compensate and are vulnerable to collapse even further.  He goes on to talk about the budget and trade deficits as well which are causing a run on the dollar.