'Our economy is like the TITANIC': Financial expert warns it's time to get 'into the lifeboats'

Glenn Beck said our economy today feels like we're on the Titanic, we've hit the iceberg at full speed, and the band really needs to stop playing so people will realize we're not saving this ship before massive destruction is done. Unfortunately for us all, financial expert and author of "The War On Small Business" Carol Roth agreed with Glenn's doomsday scenario, adding that it's the very people who put us on course to hit the iceberg who are now trying to "fix" things.

Carol joined Glenn on the radio program to explain the current economic battle between inflation and "a very deep recession" and how, as the world's reserve currency, decisions made for the benefit of the U.S. economy may be at odds with what's best for the global economy.

"It's called Triffin's dilemma," Carol explained. "From a global standpoint, you're at odds. Do you make decisions for the benefit of the U.S. — which I'm not sure that we can, but let's just pretend that maybe we can — or for the world? Because the world is on the precipice of a massive global recession that could cause all kinds of reverberations here."

"This is the massive puzzle that these central planners, again, have created because they thought, 'Oh, we can figure this out,' but they don't realize they aren't smart enough to figure out all these moving parts," she added.

Carol told Glenn it's time to "slow the Titanic down so that we can get people ... into the lifeboats," because it may be too late to stop the impending crash. "That's just not possible at this point in time ... so let's just be honest about it," she said.

Watch the video clip below to hear more from Glenn and Carol. Can't watch? Download the podcast here.

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