01-09-2017, 01:46 PM
(This post was last modified: 01-09-2017, 01:51 PM by TeacherinExile.
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(01-09-2017, 01:01 PM)SomeGuy Wrote: Second the point about the next big issue in the financial markets coming from overseas. I was calling for that in 2013 on T4T forum, and conveniently that thread was preserved. When it occurs and what the US response will be, and consequently how it affects us, is still up in the air.Do you still check in now and again on that avuncular crank--James Howard Kunstler? I ignore his wildly inaccurate rants about Peak Oil as well as his annual (perma-bear) predictions of imminent crashes in the stock market.
But having said that, I do agree with his gut feeling that whoever had won the election--Trump or Clinton--the "winner" is facing a slow-brewing financial crisis with the potential to wreak havoc on a scale similar to that of 2008, if not greater. Impacting not just the global economies, but the very legitimacy of Western governments, already in considerable disrepute.
An excerpt from his "Forecast 2017: The Wheels Finally Come Off"
http://kunstler.com/clusterfuck-nation/f...-come-off/
...The American people have been punked by their own government and their central bank, the Federal Reserve, for years and the jig is now up. In 2017 both will lose their authority and legitimacy, a very grave matter for the survival of this republic.
As usual, Kunstler is probably early about imminent (2017) doom. I've said it before, and S&H theory says as much with its delineation of an Unraveling phase, Fourth Turning crises come on slow, slow, and then explode with a vengeance.
Insiders surely have seen this coming for a long time. The people running this so-called Deep State of overblown and overgrown institutions probably acted at first with the good intentions of keeping the national lifestyle afloat. But in the end (now approaching) they stooped to too much duplicity and deceit in the desperate attempt to not just preserve the system, but to protect their own reputations and personal perquisites. And now there ought to be some question with the election of 2016 that they have engineered all of this system fragility to blow up on Mr. Trump’s watch, so they can blame him for it. It was going to blow up anyway. But had Hillary Clinton won the election, at least the right gang would have had to take the blame — the people in charge for the past twenty years. Instead, Donald Trump has been elected Designated Bag-Holder...
"Designated Bag-Holder" I like that: as potentially prescient as it is cynically clever. Puts Trump, perhaps, in the same company as Hoover or Carter or Bush the Younger (second term). I wouldn't go so far as to say it didn't matter who won the 2016 election--Trump or Clinton. Of course, it does. But in any case, the incoming president, irrespective of party affiliation, will be confronted with a second--perhaps more devastating--global financial crisis. At a minimum, it will severely test the mettle of Donald Trump and other Western leaders, such as Angela Merkel.