02-08-2019, 07:15 AM
(02-07-2019, 08:49 PM)Eric the Green Wrote:(02-06-2019, 12:03 PM)Hintergrund Wrote:(12-24-2018, 05:04 PM)Eric the Green Wrote: I still say the recession which I think will follow will not be as severe as 2008-09.
I'd rather bet the opposite.
Galen always says what is opposite to the truth. Considering how accurately I predicted the timing and extent of what happened in 2008, here and in my book and lectures for decades, also available on you tube, perhaps I have some credibility when it comes to predicting what will happen.
https://youtu.be/oKmyB1q3H68
https://youtu.be/WAoeW5fXJYU
The Green revolution now coming on, pushed further by the new Green New Deal activism, will break out fully in the 2020s, as society revs up and progress resumes in all fields. Even if there's a civil war or another war abroad, war tends to be good for business. I think the resumption of progress in the 2020s (and the abject defeat of Trump's and Galen's regressive and cynical ideologies and philosophies) will cheer people up and stir the blood and that will bring boom times. There will be a rough transition before the boom starts, starting now, but as I said it won't be as severe as 2008-- which I predicted decades ago would be the worst crash and biggest obstacle to be faced in the 21st century, except for the ongoing challenge of human-caused climate change of course.
Having read an article in Business Week in 2005 detailing the scandal in rating the collateralized debt obligations allegedly backing the real-estate bubble (package enough fecal loans and sell them as fertilizer), I predicted the possibility of an economic meltdown as severe as that beginning in 1929. Pervasive corruption has a tendency to implode, taking innocent people down with it. The meltdown began in 2007 in the securities markets and lasted for a year and a half. Real estate started going into the septic tank a bit earlier, but the President and Congress backed the banks -- this time. For a year and a half the meltdown was as severe as the meltdown beginning in September 1929.
The American economy is as inequitable as it was going into the late 1920s -- and far more corrupt. War? We Americans were lucky in the last Crisis Era. The Nazis never got jet fighters and never put its V-weapons onto its submarines. The Japanese actually had a nuclear program in an early stage, and it would have taken one ship with a manned missile... and it's bye-bye, Los Angeles. I look at the damage that "we" brought upon Iraq -- that can happen here in the event of a war.
I see Donald Trump as even worse than Hoover in the event of an economic meltdown.
The ideal subject of totalitarian rule is not the convinced Nazi or the dedicated Communist but instead the people for whom the distinction between fact and fiction, true and false, no longer exists -- Hannah Arendt.