Gary Katalbaum: Commodities Are Crashing Because of American Debt

Indian stockbroker watches share prices on his trading screens at a brokerage house during intra-day trade in Mumbai on December 17, 2015. Asian stock markets have rallied for a second day and the dollar clocked up advances against most other currencies after the Federal Reserve finally lifted interest rates for …
Indranil Mukherjee/AFP/Getty Images

Fox Business contributor Gary Katalbaum tells Breitbart News Daily that commodities are crashing everywhere, and that the market is heading into the wrong direction because of America’s debt.

“We got to 19 trillion in debt by both parties” Katalbaum told host Steve K. Bannon. “Commodities are crashing everywhere because there is no demand around the globe because of the massive debt out there.”

Katalbaum pointed out that experts always say that the heath of the economy is never really in danger “unless the markets say so.” He added, however, that, “in a lot of areas of the market, it’s saying so.”

The next six years of taxpayer dollars already have been spent by these people and there in no way back. I just wait to when markets to blow up because if you study the history of the world, whenever debt has gotten out of hand it feels good while its growing, but when it blows up– watch out.

He also discussed the trillion dollar omnibus bill that was negotiated by new House Speaker Paul Ryan. He said that many Americans, “had hope about Paul Ryan” and thought they finally had someone to fight for them. But, he said, the omnibus bill is a disappointment because “it seems like there is nothing in it for the U.S.”

Hear the entire interview: