It has been predicted several years ago. Is it possible that we will see a crash of the stock market and the onset of another "Great Depression"? Gas prices are rising, the value of the dollar continues to diminish, inflation continues to rise, the unemployment rate is rising, hedge funds blowing up, IndyMac and Bear Sterns failing and possibly Lehman Brothers doing the same (remember bank runs caused the first depression). The Fed's interactions cannot curve the recession. People are being laid off and home foreclosure is at a record high.
What can we expect to see in the next couple of months? Things look pretty grim for the U.S.; but, I would not be surprised if we end up in a depression. Especially when it is expected that the average consumer will spend 20 percent of their income on oil (more than groceries) by the year 2010 . . . yeah, that's only two years away . . .
Not to mention that, we also have the prophecy of 2012 around the corner.
Hmmmm . . .
Here's an interesting video for food for thought:
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