Recovery? or Depression?

By , August 17, 2012 8:15 pm

August 17, 2012

The Correction is now more than five years old.

We’ve heard “recovery.” But the world economy is nowhere near back to where it was. Industrial output in the U.S., Germany,Canada, France, Sweden, Britain, Belgium, Japan, Hungary, Italy, Spain and Greece is below the levels of 2007. And these world powers are still making it worse by adding more cash and credit. What’s worse is that there is no more cash available and with our Nation, there really is no more credit, simply the printing of dollars. The only reason the dollar has not tanked is the other nations are in worse shape than we are.

I’ve written since 2009 of a plunge that will knock 60% off the Dow… erasing more wealth than the 2008-2009 crises and the Great Depression combined. I wrote in late 2009 of a possible DOW in
the 4900-5500 range. I now believe that it could sink lower. Even if everything I’ve written in my series (1929-2009 – now and then) is wrong, we have already been crushed during these last three years. I will bravely say now that we will have a global depression sometimes between March and October of 2013. A full recovery from this depression will not come until 2025. Keep in mind that our
government is telling us that inflation is about 2%; if that is true why are we paying so much more for milk, bread, eggs, coffee, etc. And how about gas, 134% more.

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