In any case, some of their absurdities:
Corsi urged anyone in the position to do so to quickly pay off any mortgages and get out of debt. Secondly he suggests investment in gold, rather than stocks and bonds which are based on fiat money and are going to decline tremendously in value:
Uhh genius, if you believe hyperinflation is coming, then why would you pay of your debt? Borrow more money, use it to buy assets (like gold), and then repay your debt with worthless dollars.
Corsi, who has a degree in political science, not economics, goes on to claim that this recession will last long because of our lack of exports.
"It's going to last several years, it's largely because we've lost so much of the manufacturing to China, even when our currency tanks, there are no exports we are producing anymore that will gain. The currency is gone, it is being sold off very quietly, worldwide, by the oil producing states, by China, the Euro is increasingly becoming our foreign exchange reserve currency.
This is an often repeated myth. We do not have a trade deficit however, because of a lack of exports, but because of an abundance of imports, as data readily available from the Bureau of Economic Analysis indicates: