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US economy is going to go through ten years of hell at least. It's going to go through a Great Depression, tragically far worse than the 1930s, despite the so-called stabilizers of Social Security and unemployment insurance. Already, states like California are going through pure hell economically and in terms of employment, and that's preprogrammed to get worse. There is nothing China could do, short of committing national economic suicide, along with the other countries of the world...
Originally posted by Leo Strauss
I think we could relate this thread to the thread where Medvedev unveils the new 1 world currency to replace the unstable dollar.
The stars seem to aligning for a huge crash for the US!
Originally posted by HunkaHunka
reply to post by Leo Strauss
Great graph Leo.
I think we also have to take into account the size of the market when we are talking about percentages of job loss.
Look at the 2001 losses... took a much longer time, although not as deep of a loss. I'd say that's probably our closest analog...
Originally posted by tatersalad
doing a bit of research on the stimulus and how it pretty much just bought out the debts from the states. i would say if they cannot pass another stimulus in less than 2 years, this country is done. this trickle down economics works when there is a middle class, but when the middle class is wiped out, guess what||||||||||?