The Economic Cycle Research Institute says a new recession is unavoidable. This probably means that the Republican nominee will be the next president.
It also means that we will likely be entering into a proto-revolutionary period. This gives fringe-dwellers their big chance to take over. The Libertarians have their act together -- "sacred scripture," organization, a robust media infrastructure -- while the left does not.
Thus, while I fear this new recession, I fear even more what comes next.
5 comments:
Just what we need, loons with a nuclear arsenal. Think Land of Confusion by Genesis only Perry or Bachmann instead of Reagan.
There's a financial tsunami headed our way. Will it be 2012, 2013, etc? Don't know. But it's coming and all the king's men and all the king's horses refuse to acknowledge the danger. If they did? The NYC occupation would truly be child's play.
Peggy Sue
First of all we don't have a new recession coming. We have been in a depression and are still there and will be there for quite some time to come.
This is what they want you to think. What they want you to write about. What they want the media to flout.
It is all Deterrence.
There is no conspiratorial "they" directing the ECRI, at least none that I could find. Why would they ruin their record by offering a false forecast?
Same depression, different year.
The powers will be will tell you they are all different recessions. They will tell you that cos there are different remedies for depressions rather than common or garden recessions. If its a recession the situation is normal. If its a depression the situation is exceptional and requires exceptional measures - a new new deal perhaps? With the path the authorities are going down - restricting growth of money (or failing to offset the natural contraction of credit if you prefer), and limited fiscal intervention, then yes this next phase of recession is inevitable.
Joseph, I have warned about this for 4 years or so. It is clearly happening now. The only way out is massive intervention, of a form which will involve massive wealth transfer. But the politics here wont tolerate it. So instead you must have a depression.ly the same as Japan.
Harry
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