Full employment economy ended in the mid 1990s when NAFTA was signed and it became socially acceptable for companies to outsource their manufacturing plants to China and Mexico. This is when the "depression" started for people on mainstreet and it has been going on strong for over 20 years now.
Topic: Upcoming 25 Year Great Depression...!!! - page 2. (Read 5629 times)
There is a strong possibility of this unfolding. Sadly.
Jim Rickards, the Financial Threat and Asymmetric Warfare Advisor for both the Pentagon and CIA, has forecasted that the next Great Depression will start in 2015 and it will last for 25 long years. While there have been reports about the threat of a downturn in US economy, the fear of a $100 trillion American meltdown is really scary.
-snip-
The world economy only has a GDP of ~$90 trillion so I would find it very unlikely that the US economy would shrink by $100 trillion. I also don't think anyone in the CIA would be qualified to make these kinds of economic predictions. -snip-
the 100t i think refers to lost wealth be it stocks, value of property etc. not just gdp. a global financial crisis would crush the GDP of most countries but more than that it would wipe out the wealth of nations ie. the value of their assets, commodities, property, paper wealth(stocks bonds etc). the latter is what is being referred to when it mentions "$100 trillion American meltdown" apposed to GDP alone..
Honestly, the very first reason the author gives makes the whole article irrelevant.
Just another US national debt FUD.
Just another US national debt FUD.
Our future financial obligations definitely present a major problem. Real national debt in the US is larger than the entire global economy. Painful choices will have to be made at some point but there are so many other factors in play. We are at the beginning of what will be one of the biggest oil booms in world history and that will definitely be a factor. Cheap energy is one of the fastest ways to grow an economy.
The debt issue is lurking for sure but it is not an imminent threat as the economic eschatologists would have us believe.
Most of the real debt is in the form of entitlement obligations and such obligations can easily be lowered via legislation. I would also argue that these obligations will not cause the kind of long term economic woes that the OP is claiming will happen to the US The debt issue is lurking for sure but it is not an imminent threat as the economic eschatologists would have us believe.
US economy is recovering, everyone knows it
Our future financial obligations definitely present a major problem. Real national debt in the US is larger than the entire global economy. Painful choices will have to be made at some point but there are so many other factors in play. We are at the beginning of what will be one of the biggest oil booms in world history and that will definitely be a factor. Cheap energy is one of the fastest ways to grow an economy.
The debt issue is lurking for sure but it is not an imminent threat as the economic eschatologists would have us believe.
The debt issue is lurking for sure but it is not an imminent threat as the economic eschatologists would have us believe.
25 years of prediction? No way you can predict the future for so long. So many economists have been wrong. What is for certain tho, is the fact we are fucking within our current system.
Again a post making wild claims without evidence...
Basically when you look at a crisis, all you can do is tell what happened, but it becomes very hard to explain why the people, at that time, decided to take those decisions. Often, those crisis are not human made, they just result from a certain combination of involuntary mistakes and lack of communication between the concerned parties.
If you knew anything about currency history you'd realise that the great depression was no accident, many of the problems we see happening on the surface are a direct symptom of what is being done in secret.
Jim Rickards, the Financial Threat and Asymmetric Warfare Advisor for both the Pentagon and CIA, has forecasted that the next Great Depression will start in 2015 and it will last for 25 long years. While there have been reports about the threat of a downturn in US economy, the fear of a $100 trillion American meltdown is really scary.
-snip-
The world economy only has a GDP of ~$90 trillion so I would find it very unlikely that the US economy would shrink by $100 trillion. I also don't think anyone in the CIA would be qualified to make these kinds of economic predictions. -snip-
If you Have cash i think better choose it is real estate. You will Have a really great probability to gain in next five/ten years.
Stay out of debt too. Debt in deflation is a killer.
So if I have a £1000 overdraft with the banks and there's a global financial meltdown won't the banks (who are now almost none existent) just write my debt off? If the system is broken who will be left to prosecute me to recover my debt?
The meltdown won't happen overnight, it's taking years. There'll be some mergers and bail-outs and whichever bank takes over your bank will demand that you re-pay the debt.
Stay out of debt too. Debt in deflation is a killer.
So if I have a £1000 overdraft with the banks and there's a global financial meltdown won't the banks (who are now almost none existent) just write my debt off? If the system is broken who will be left to prosecute me to recover my debt?
...
NO ONE can reliably predict the future, it's just too complicated with too many unknowable factors out there. Although there ARE many bad distortions in our economy that are visible to those who will look...
One important idea for individuals is to become your own Central Bank! Diversification, fishez!
-- Gold (silver, platinum)
-- Stocks and bonds
-- Real estate
-- CA$H at home, enough for three - six months if possible
-- Etc.
Stay out of debt too. Debt in deflation is a killer.
NO ONE can reliably predict the future, it's just too complicated with too many unknowable factors out there. Although there ARE many bad distortions in our economy that are visible to those who will look...
One important idea for individuals is to become your own Central Bank! Diversification, fishez!
-- Gold (silver, platinum)
-- Stocks and bonds
-- Real estate
-- CA$H at home, enough for three - six months if possible
-- Etc.
Stay out of debt too. Debt in deflation is a killer.
Thanks Nostradamus. Can you tell my my fortune also?
This is 100% useless crap
This is 100% useless crap
A depression for 25 years... This could really be the lost generation.
People talk about those who came of age during Japan's lost decade; this could replicate it on a global stage.
People talk about those who came of age during Japan's lost decade; this could replicate it on a global stage.
Indeed. You shouldn't put down to malice what can be attributed to stupidity.
Paraphrased from a famous quote.
Paraphrased from a famous quote.
Basically when you look at a crisis, all you can do is tell what happened, but it becomes very hard to explain why the people, at that time, decided to take those decisions. Often, those crisis are not human made, they just result from a certain combination of involuntary mistakes and lack of communication between the concerned parties.
It will happen , History write World War 1 & 2 solved this problem.
Sooo maybe World War 3 will fixed this problem ?
Sooo maybe World War 3 will fixed this problem ?
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