Monday, September 13, 2010

Economic Doomsday Warnings From Top Officials

I have been called the prophet of Doom on occasion and I will admit to having been wrong once in while, mostly about war which I apparently still don't understand the reasoning behind. A recent example that has everyone as puzzled as I am is Iran's push toward nulcear acquisition with a big shrug and a whatever, even from Israel. The North Korean acquisition of nuclear weapons has totally destabilized the region, leading many to believe that countries like Japan and Taiwan will eventually get nukes. Proliferation will lead to an eventual war with these weapons. We've been lucky so far but don't mistake that luck for good policy. It isn't. Iran cannot be allowed to get nukes what ever the coast. If they do, the chance of an all out nuclear war will be sky high. Deterrent won't work with a culture of death.
But with economic news I am surprisingly accurate. I predicted the fall of three stock markets to the month, the decline of the housing market to almost the day and several other forecasts that those who listened made good money (such as investing in gold in 2003. Those that did more than tripled their investments by now). Famed economist Nouriel Rubini has said that the US has run of bullets, ie ideas, on how to fix the economy and is scrambling. Any hit to the economy could collapse it. Others like Boston U Professor Laurence Kolitikoff have said that a trade dispute with China could wreck the economy and lead to a Depression era run on banks. Recent polls show the more than 65% of the people believe that a new recession has started (the last one never really ended actually) and 65% think the US is a state of decline. I recently read that more and more rural counties are going to be turning their road ways into gravel. While traveling through rural Connecticut I came across these new gravel roads. They suck. If you like the idea of replacing your glass windows every few months due to projectile pebbles being flung at you every direction, then these new roads are all yours. And with all of this, the idiots who vote think that voting in new Republicans will solve anything are drinking the kool aid for all of us. Such a move will end in destruction, and as they are poised to put some of the worst politicians in American history into power we can all see the writing on the wall. New York Times Op-ed writer David Brooks wrote recently that the US is experiencing a simlilar decline that the British Empire did a 100 years ago. He writes that we are in the midst of another jobless recovery where wages have been stagnant for decades. We actually make less money in real, not inflated dollars, than if we lived in the 1970's. That's how little money we make. It's sickening. Nober Prize winner Paul Krugman voiced such concerns that if the Republicans get back into power and unleash the same destructive policies such as ones John Boener has espoused, the economy is screwed. He writes "fewer jobs and bigger deficits- a perfect combination." Even the IMF has voiced concerns for the fact that the only way we may get out of this is by printing trillions of dollars, leading to a Wiemar like inflationary spiral. The day of reckoning is coming soon and we are putting the same idiots back into power. God help us.

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