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Coming Economic Shocks Could Spark Depression: Economist

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posted on Apr, 30 2008 @ 12:53 PM
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Coming Economic Shocks Could Spark Depression: Economist


rawstory.com

When a Gallup Poll showed that 59% of Americans believe a full-fledged economic depression is “somewhat likely” within the next two years, WCCO News in Minneapolis sought out economics professor Raymond Robertson to ask, “Is this the recession that will become a depression?”

“It’s hard to say,” Robertson answered. “Any of the potential shocks that we face could easily slip us into a very, very serious depression.”

(visit the link for the full news article)




posted on Apr, 30 2008 @ 12:53 PM
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He makes very valid points, and what's particularly alarming in relevance to what he's saying is the shying away from the crashing dollar that we're starting to see with other countries!

And with the idiotic FED continuing to lower percentage rates and further devaluing it, it will be no suprise to see less and less countries using it, which = DISASTROUS implications for us.

Not good.



However, he worries about other problems that could eventually spark a depression, including our “astronomical” trade deficit, the falling dollar, and our out-of-control national debt, much of it owned to other nations.

“If they stop lending us money, we’re going to have to repay that debt ourselves,” Robertson told WCCO. “We would either have to cut spending … or we’d have to raise taxes” — either of which could cause a depression — “or the United States government would have to go into default.”




rawstory.com
(visit the link for the full news article)



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