Posted by Tina
I’ve been reading for several months that experts are predicting another recession or worse this year. Some point to charts that are “eerily similar” to those occurring in the months leading up to the crash of ’29, the precursor event that was followed by the Great Depression. Policies enacted by the Obama administration have not worked to create a stable and vibrant economy but they have added greatly to our debt. Economies in Europe have also suffered and China has a credit bubble that many feel will soon burst. Read more in the article, “Our Economy is About to Implode,” by Jack Kelly, Real Clear Politics.
People could once again lose their jobs, businesses would most likely fail and inflation will rear its ugly head. If this prediction is accurate we are in for another tough hard ride. Secure your cash, batten down the hatches and pray.
” If this prediction is accurate we are in for another tough hard ride.”
Another? We are still in a tough hard ride! It is just going to get worse at some point.
Yes, the market will crash and the economy will spike sharply downward. My guess is that it doesn’t happen this year or maybe not even the following year. I think that for the next year or possibly two the economy muddles through (with unemployment maybe dipping a little but still remaining very high).
But after that there will be hell to pay. We are in for a horrific ecnomic crash that will make the ’30s look like peak prosperity. There will be extreme poverty, riots and even starvation. The suicide rate will soar and the living will envy the dead.
This market chart is absolutely terrifying:
“If stocks continue to follow the same eerie script, trouble lies directly ahead.”
http://money.msn.com/top-stocks/post–this-market-chart-is-absolutely-terrifying
With the draught forecasted and water rationing a strong possibility resulting in higher prices for vegetables, fruits, etc. I’ve been putting in a vegetable garden that will, hopefully, help feed my family during the summer and fall. I’ve decided to let the lawn die if necessary.
Tina, I see the stock market out in front of itself once again. Fair market value just isn’t there. But, we can thank the Obama Administration for this because they’ve been pumping up the market with their QE’s and other stimulous. Oddly this is actually a perverted form of trickle down economics, except that very few hands are getting this cash infusion and they are not trickling it down. Instead we’re going deeper in debt and setting ourselves up for the next big crash, which will probably take the dollar down and cause a world wide crash.
Bill you’re right, we have not “recovered” after the last recessions end in June of 2009. I was referring to the Great Depression, the devastating length and depth of which was created by lousy government policies and the vapid (evil) progressive mind.
I pray it won’t be as ugly as you indicate but I fear it will. Thanks for sharing your thoughts.