Obama’s Economic Time-Bomb Set to Explode in 2011
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This does not pass the smell test. No sir.
There’s still 5 and 1/2 months left in this year.
I say: Obama’s Economic Time-Bomb Set to Explode in 2010.
If you look at the video I linked in my previous post, One point the author makes is that our whole system DEPENDS and ever increasing debt creation, and if it ever stops, reverses or even SLOWS DOWN our current system of banking will utterly collapse.
The implications are that we will have possibly significant deflation as debt contracts before we end up with Zimbabwe style inflation.
We could actually see the price o gold go down in the near future, followed by hitting $3000 $7000 an ounce territory.
by the end of the first quarter in 2011 we will see unemployment hit 15%.
in 2011 everybody’s taxes go up with the “expiration” of the Bush tax cuts (every bracket plus dividens and capital gains)
in 2011 the just passed “financial reforms” will take effect, raising the reserve requirements and cutting lending.
We will have gridlock in Washington, no new bad stuff, but also no repeal of anything.
States (California, New York) will progress in their financial meltdowns...
it’s going to be ugly.