Isn’t it fun to watch a big bubble being blown up?
When all of the currency bubble bursts, it’s going to be a mess.
My prediction: within 5 years (more likely 2) we will be in a depression that makes that the 1930’s look like the Roaring 20’s.
What is fascinating to me is that back in 2006 I was predicting that this thing could actually get worse than the great depression. Not only was I vilified for it, but even I had a hard time accepting it. My raw understanding of history and human nature told me it was a very real possibility, but my emotions just could not fathom it.
It turned out to be more real than even I thought.
It is like the time Bill Gates made the comment that computers could reach a standard price point below $1,000 and it seemed ridiculous, if it were not for him being the one saying it. What I am saying is that it is all about our ability to break strong paradigms.
With all that said, I actually DO think the February 2009 prediction is believable - and MUCH MORE so than last March. Just look at how our leaders (and leaders of certain other countries) are acting. It is peculiar.
I am one of those that believes this stimulus package will pass in one form or another. I am also one of those that believe that if it does, in a few months we will be in the same condition, only worse, and several hundred billion down.