2010 Predictions: U.S. Economy

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U.S. Economy: General

  • China , Russia , India , and the commodity bloc in the Middle East will begin to reject thefiat currency of the U.S. Dollar, buying gold and other precious metals on a large scale as U.S. public debt exceeds 70% of GNP and the banking system in the United States continues to deteriorate. (January 4, 2010)
  • Despite reports from the mainstream media that economy is improving Americans will become more cynical then ever about government actions to regulate the nation’s financial system. The growing belief among Independent and Progressive voters that the federal government is more concerned with making Wall Street firms profitable rather than making sure the financial system works well for all Americans, will lay the seeds for social revolution that will result in a middle-class tax revolts and political upheaval in the second half of 2010. (January 4, 2010)
  • Crop failures throughout the nation in 2009 will result in food shortages by mid-year, which will cause food prices to increase and Agra commodities to crash in 2010. (January 4, 2010)
  • The once vibrant and robust American middle-class that was the pillar of American democracy will no longer be sustainable and begin to collapse in 2010 as the number of people seeking jobs far exceeds the number of jobs available with almost 50% of the home mortgages being underwater (meaning that the homeowners will owe more on their mortgage than what their house is worth). (January 4, 2010)
  • The assertion of “Peak Oil” (where the production crude oil approaches a realistic limit) along capital mismanagement will drive the fuel prices up and begin to destabilize an already fragile U.S. economy.  Although the world will not be running out of fossil fuels in the foreseeable future, the plateau of crude oil will drive up inflation and begin to cause civil unrest and disorder in some areas of the country as living standards begin to fall substantially. (January 4, 2010)
  • Economic uncertainty will dramatically increase in the United States as China will begin to dump and hold U.S. dollars at various increments without wiping out their own savings. (May 26, 2009)
  • Great Depression II: The current U.S. recession will turn into a second Great Depression by December 2010. (April 3, 2009)

NOTE (4/3/09): The U.S. economy entered a recession in December 2007, according to a committee of economists at the private National Bureau of Economic Research. David Owen, an economist at Dresdner Kleinwort, suggested a recession turns into a depression if it lasts more than three years. Most Western recessions last only a single year. Some last two years. Only one has lasted longer that wasn’t the result of war. They rarely last longer than that and only one — the Great Depression — was not the result of a war.

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