WATCH: The Investor Who Predicted The Recession Warns The EU Is About To Implode

Jim Mellon
Jim Mellon, the investor who correctly forecast the last economic recession, now predicts “years of turbulence” for the European Union (EU) and the “breakup” of the euro currency. Mr. Mellon — referred to be some as ‘Britain’s answer to Warren Buffett’ — has concluded from his assessment of the current economic climate that Britain is “better off outside the European Union in a comfortably appointed lifeboat in the English Channel, as the Euro Titanic sinks to the bottom of the ocean.” The reason Mr. Mellon’s assessment is worth listening to is because he was one of the few economists to forecast the most recent economic recession, correctly predicting that the U.S. housing crisis would be the “trigger” for that in his book ‘Wake Up!: Survive and Prosper in the Coming Economic Turmoil’. Mr. Mellon sets out what he says are the clear reasons for the impending collapse. France and Italy are in “debt traps,” meaning the are not able to grow their way out of evermore expanding debts. Meanwhile, structural reforms are not available to a French government prevented from employing such measures by striking workers, and in Italy the banks are in “perilous trouble”, as reported previously by Breitbart London. For these reasons, Mr. Mellon says: