Not pretty scenarios. Government spending has thrown free market mechanism’s into distortion and disarray. So it should shape up to be an interesting year.
There are various takes on how everything will pan out. The MSM (main-stream media) paints everything as a rosy picture: we’re coming out of the recession and things will only get better, we hear.
However, all of the realistic economists, the one’s who rightly predicted crashes in recent years, are predicting some hard events that will take place this year forward.
On a macro level, for the most part, they all see the same scenario emerging. Mish says it’s the year for the beginning of the Second Great Depression. In addition, he believes it’s likely we’ll hit a Y-shaped economy, that is, a W-shaped trend where we dip into recession a second time and re-test previous lows and then some.
Trends researcher Gerald Celente (not in this audio) is predicting the Greatest Depression in the next few years. Peter Schiff is predicting similar scenarios. By the way, these guys have been right for years on predicting future trends, not just months but years in advance many times. Economist Ambrose Evans-Pritchard is saying the next shoe to drop around the world is sovereign debt, that is, debtor nations such as Greece, Spain, and the US, will pop or default. Here is Jim Rogers take: