The bell tolls. For whom? The global markets.
The stock market will likely drop at least 25%, maybe even 50%.
All these foolish government policies that kicked the bucket down the road kept the house of cards propped for a really long time, but that road ends and cards fall. That time is coming. Itís inevitable.
You canít keep printing money that isnít backed by anything. You canít borrow, print and spend your way to prosperity. You have to create wealth. Thatís done by creating (business), not taking (taxes).
The warnings are coming from everywhere: the US and UK markets are in a bubble that will burst. Each prediction I read is completely plausible. All the doomsday predictions are within the realm of possibility. Maybe 100%.
Wiedemer has been warning of a 90% crash for a couple years. His logic isnít faulty, the US government just keeps pushing back the inevitable downfall caused by their fiscal policies (namely, the Federal Reserve).
I doubt the fall will be that far, and I donít think 50% unemployment will become the new norm. A 50% market crash with unemployment (including those who stop looking for work) hitting 30% wouldnít surprise me though.
A lot of numbers get thrown around because people like numbers. They also like making predictions. Many like clinging to old beliefs despite all evidence pointing to the contrary.
Keynesian economics hasnít worked and never will. The coming crash will prove that to all the naysayers.
Clearly, it will take a collapse of epic proportion to wake people to the truth, so thatís what we need and what weíll get.
The world isnít going to end though. I like to think itíll become more like my book, ďA More Perfect Nation.Ē
What do you think? Is the collapse coming this year? Next? Never?
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