Matt Dillon - save this post as I will not post this again and no doubt someone may ask for it!
Yes this will become true but understand just how much other countries rely on us. Now I'll explain al this and exactly what is going to happen as we knew about Japans depression, our housing rise and fall however, the credit cruch was not seen by anyone.
Russia will be sent into the ground a mile deep so pray they don't sell their nukes and other technologies.
India will be come one of the strongest countries with no barrier for at least 80+ years the perfect economy to prevail but living conditions and corruption is far above us they would be able to teach us a thing or two about corruption.
Another fact! Canada relies on us at a 70% rate to move their goods.
So the bottom line we will proceed past the recession and into a depression but Obama's job is to try and head this off. He will look good say for about 1 year -give or take 6 months then we will proceed down hill again. Now no matter what his Presidency and things to come wil be a greater task to try and do than the past 30 years worth.
What will fix/repair the states in time is what no nation wants to see and that is the only cure to come is DEFLATION. YOUR DOLLAR DOES NOT SHRINK as some think but become more valuable. Bussinesses fail massively and no business will stay afloat except real corporations with real money not credit and not BS.
Again, regardless of our economy to get smashed at you seeing the DOW reach as low as 3500 or perhaps only 5000 will come to pass and when you see this I will repalin more however some already now of these prediction through myself or others. Unemployement will reach 15%.
DON'T BUY A HOUSE ANYTIME SOON AS YOU WILL LOSE 50% MORE OF ITS VALUE. Again when you see this happen don't think I know everything it is easy to obtain most of this material it is how to understand it and work with the circumstances not fear any of this but again work with this.
The reason why Obama will still try and make all of these plans work is simply because it is his job to try and stop the depression and the DEFLATION that can not be stopped but they must still try. Obama's actions will just delay things until 2010 when us baby boomers really get cranked up with retiring but I hope by this time oil has rebound to $170-$190 per barrel and is back aroun 480 to say the least. WE DO NOT WANT TO FACE THE CREDIT PROBLEMS PLUS THE FINAL PUSH ON OIL PLUS THE DEVASTATION OF US BABY BOOMERS RETIRING AT THE SAME DAMN TIME BUT IT STILL LOOKS BAD. I hope oil might be out of the way but the business and credit crunch coulpled with us baby boomers will not escape as we would want to see.
As to the markets, shorting will basically be the only way to make fast money and those who are age 25 on will never ever see what most of us seen through 1990-2000. In short there will be no more bull runs like we seen back then.
What will happen later: around 2012-14 there will be a point when you will know that housing has colapsed to it's bottom and it will be time to buy housing again. Bio and health stocks are the only wise investments aside from what our government may try to make happen.
As to a reval, I would love to see that but doubt anything to pull the US out of doubt simply because it will take Iraq 30 plus years to really get a handle on their econmy along with what is needed which is health importing and exporting. We just can't say that Iraq has all this oil and call it worth especially when there is massive currency and really nothing to back it NOW! Maybe in 20-30 years but not now.
As to the 1929 depression, it is already as bad but so many circumstances are different it will take much longer to really feel and understand but just ask yourselves. When have you ever seen an auto market bailout, when have you seen a 700 billion problem evolve basically over night????????!!!!!! and absolutely NO ONE WILL HAVE THE ANSWER TO ANY QUICK FIX as this has never ever happened prior! plus as I said an oil commodity run that may not be over just yet but maybe one final push BUT, after all this a forever grinding of us baby boomers that had built much of this by consumption and spending but WILL NO LONGER BE WORKING AND SURELY WILL NOT SPEND ANYMORE MONEY. What does that mean? It simply means we are onl the other side of the curve moving downward and don't have the massive workers any more to keep the spending curves up high enough for future growth! we are now moving into a cool down for the next 50-80 years.
Use the tools, understand what will happen and just work with this.