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Down another 600+ points today. Its Sept 2008 all over again. Except this time there will be no bailout. Sometime soon a major US bank will fail, much like Lehman, and it will bring down the entire US economic system. Look for job losses in the 3-5 million range per month going into the fall. One economist is predicting 50% unemployment in 2012...that is higher than I have ever thought possible. That same economist is predicting a 90% fall in the Dow, which should take it down around the 1500 mark.
The question is, when will US citizens take matters into their own hands? When half the country is out of work and starving and the government cannot pay unemployment benefits, the people will rise up and we will see the kind of violence and anarchy that epitomizes third world nations.
Things are bad, very bad. As I have said in the past, we are now at the beginning stages of a new dark ages. The end of (our world) is coming.
From 2012:
Quote:
Originally Posted by bchris02
Obama just won a second term, which will be detrimental to our economy. I admit, Obama's victory may have great for gays and women's reproductive rights, but when it comes to an economic recovery we have sealed our fate. Here are my predictions for this time in 2016. Bookmark this thread and re-post it when that day comes.
Last but not least the media will finally admit we are nine years into the second Great Depression.
The OP hasn't posted since the end of July, 2013 ... too embarrassed to post under his original screen name? Moved to Somalia or Paraguay to avoid the disasters he predicted? Got discouraged that nobody thought he was the reincarnation of Nostradamus?
Obama just won a second term, which will be detrimental to our economy. I admit, Obama's victory may have great for gays and women's reproductive rights, but when it comes to an economic recovery we have sealed our fate. Here are my predictions for this time in 2016. Bookmark this thread and re-post it when that day comes.
A year to go but remarkably close on oil and gasoline prices. 2 out of 6 right, not bad! Better than a lot of forecasters.
Except that, as Setchel noted, he was totally wrong as to why oil and gasoline prices have dropped, so his being "right" is totally random luck, like picking the right numbers in Powerball. In the OP's prediction, oil and gasoline prices were so low because the US economy went into a death spiral, and there was no demand for either. In fact, the US economy has done the opposite, recovering nicely from the nadir of 2008. Point of fact, it had already begun recovering in 2012.
The current low energy prices stem from an over-supply, the primary cause of which is additional oil from the Middle East, but also improvements in automobile gas mileage, and a switch away from oil to natural gas, solar, and wind for home heating, for electricity generation, and even for powering vehicles.
This one is right on the money in my area! In fact, most stations are a few cents less.
Where do you people live that everything is so much cheaper? Gas is $1.99 in Maryland. Appreciated but still not $1.70. Marlboro lights are $6.73 a pack. What are they in your area?
Where do you people live that everything is so much cheaper? Gas is $1.99 in Maryland. Appreciated but still not $1.70. Marlboro lights are $6.73 a pack. What are they in your area?
That's because government at all levels sees cigarette taxes as easy money. Fewer tha 20% of adults smoke, and they vote less than the general population.
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