If nothing proves else proves that we live in 2 Americas the wealthiest one percent and everyone else then this should: How is it possible that we have double digit unemployment – the worst since the Great Depression, inflation, people continue to lose their homes, businesses, jobs and the majority of the middle class has slipped down from upper to middle, or middle to lower, yet Wall Street remains in a bubble of its own?
How is this possible?
The wealthiest one percent aren’t directly effected by the down turn. But they eventually will be. The market, which is in some sort of fantasy driven bubble, will eventually get hit when no one can buy things anymore. I don’t know about you guys, but I end up at Target a lot because I have a toddler. I’ve noticed everything I normally buy for her is at least a dollar more per item. That’s some serious inflation! And only about ten percent of the people are shopping there compared to just a year or two ago. I’m not an economist, but that doesn’t bode well for the economy.
Slobbadon wrote a post which I skimmed over, but according to an astrologer he’s been following the crash is due next winter. Frankly, I keep feeling the labor pains and then they disappear. I feel the Oh, No, energy and then it recedes and the economy seems to stay afloat through the sheer will of investors and a lot of lying which I’m sure will come out later.
But whenever the next crash comes, and it will come, we are still in trouble. There’s talk of unemployment being high for a very long time. Reason being is most jobs have been shipped overseas. What I don’t understand is why our government doesn’t make it financially impractical for this to happen. Whatever happened to regulating this with tariffs and import/export duties? If if cost company A more money to manufacture their flashlights in China due to taxation and an international wage law that required Company A to pay a universal minimum wage (based on Europe or the US standards) and on top of that they had to pay shipping and exporting and importing taxes, chances are pretty good they’d just take those jobs back to the US.
There have to be solutions. It’s not right that our corporations exploit people in other countries (in old timey Dickensian fashion) and it’s not right that laws don’t seem to apply to companies. People died here in the 30s trying to get rights for unions and fair wages only to have it be pissed away and thrown out with the bath water during the Reagan years. Thanks Reagan for setting us on the course of economic ruination of the middle-class, you know the trickle down economics where the lack of cash trickles down to the point of starvation and we become akin to a developing nation.
Sometimes I wonder if we can change our trajectory, the one I envisioned in the novel Americhrist (published on this site). It feels all too real, all too inevitable which is why Obama really needs to push back. He’s a wonderful man, but so was Carter, and if he’s not careful his presidency could go the way Carter’s did. It seems there is enough of a majority of mentally challenged people in our country who not only can’t relate to an erudite, intelligent, thoughtful, peaceful, diplomat, but who actually hate people like that. It seems there are Americans who just love the sound of a big fat bully bellowing. Sad.
Bug your congresspeople and Obama to put the public option back on the table and pass it!
Best wishes all you kind, intelligent and gracious people,
And seriously read the book Americhrist it will make the hair on your neck stand up. I wrote it in 2000, the first draft was finished shortly after Bush took office the first time around.
9 thoughts on “World Economic Collapse…”
Yep, “Obama is a wonderful man, but so was Carter, and if he’s not careful his presidency could go the way Carter’s did”.
Well he has the same and even worst crew around him than Bush. So welcome to great depression in 2012 because the govrment still bail out Wall Street with trilions $ US.
It’s true maybe will have even 20% unemployment next two years but we still have Hyper-inflation which is supported from money printing and bail out of Wall Street. You know well Carter and Clintons tech bubble. But next 4 years will be worst.
You mention hyper inflation here but said in another post that gold will be $500 in the not too distant future. How can you have hyperinflation while commodity prices go down? Where are you keeping your money?
Currently Gold has clear value about $ 1250.
Maybe will go even $ 2000- $ 3500 up to next September but you have to sell with profit.
Same story and shock was in 1980.
Jan/1979 gold price was $ 216.
Jan/1980 gold price was $ 850
June/1982 gold price was $ 296
Learn the history.
I remember the history of the 70’s and gold. I saw that price increase coming. Gold went down when the government got serious about controlling inflation which made investing in companies more attractive. Savers could have made money in bonds and banks then too. You could get a descent rate of return. Right now I see nothing out of this government that can do that. Paul Volker is there but no one listens to him. Are you saying my September they might.
Something like a currency once again backed by gold that the US use to have prior to 1971?
Then if one is lucky enough to sell close to the high in gold, where does one put his earning then? Find a fund that can take your US dollars and change them into a different basket of currencies? The Merk Fund is one I have used in the past. Looks to me like the dollar is going to peso levels and the powers that be want it so. Easier to export goods, limit imports, and they can pay back China and Japan in a diluted currency. The problem of course will be everything costs a lot more for US citizens. Good for the ruling class but not everyone else.
If people can see what is coming, is this the plan?
Right Now I’m bull on Gold Price. But you have to get out before Feb/2011. Again Gold price could reach $ 3,500. Market is timed so you have to sell with profit or you lose. Why?
Hmm, check http://www.imf.org/External/NP/EXR/faq/goldfaqs.htm#q6
Next 5 years IMF will sell 2,000 tons of gold!
And current Gold production has increased about 5%, after many years decline. So be prepared for shock from 2011 and 2012.
From Current charts of DOW next correction will be 20th/0ct/09 to 26th/nov/09.
Crash in Feb/2010. And collapse in 2012.
Or collapse of $ US and DOW will hit 30,000 points and Gold over $ 8,000.
I don’t think that rich bankers from FED will allow $ US to go in toilet. Maybe I’m wrong but from history as 1938 and 1980 we had suprise.
So Denise what is your prediction about $ US.
Can we expect total collapse of $ US and new Amero?
If we have total collapse of $ US, and new Amero and Federation with Mexico and Canada than we have completly open borders and the same monetary and labour policy in NEW ECONOMIC UNION.
Than you can see break up of America and Revolution simmilar like Cuba in many States.
Next stage should be Civil War and I guess Goverment of the Union will win. How?
Dictatorship similar like Soviet Union where over 20 mil. people had kiled from KGB for new Union. Also European Union was created after many wars in Europe and losses over 50 mil. people and threat for new wars.
USA was created as UNION after civil war in 1865 with loss of over 700,000 people from 31 mil. population or if you want to compared with current population in USA,Mexico and Canada than the new Union should pay the price about 12 milion in population.
If you think that $ US will collapse to Peso level than you should know that will be WW III and Civil war in America. Why?
Because in 1929 and 1970’s was different situation. USA didn’t have debt over 8 trilions to foregin countries and during the 70’s many European countries had to support high inflation because of treath of Comunisam.
Now what is the treath for world and USA?
One idiot B. Laden in cave with the gun can destroy empire of America?
Nope,in the future nobody in the world will suport USA stupid wars and goverment inflations because of cover up Wall Street mafia.
Maybe you are right.
Will see in 2010-2012.
O = Oligarchy… http://globaleconomicanalysis.blogspot.com/
I had a 389 synch the other day. I keep thinking the economy can collapse any day now, and if there is any other things I need to buy before it does. One of the last big purtuchases I could think of is a composting toilet for a second residence I set up, for either guests or a rental. I ordered a Swedish made toilet that came to $1,389.
JCD’s 389 premonition was about the economy collapsing. It was because of her premonition that I found your site, which seems to be dead now.
Possibly there’s something to all the predictions about September?
Is there anything in the Astrology?