I am not sure if our policians have the courage to do engineer a soft landing by cutting back spendings and social programs. I think either we do it slowly now or we wait until we are forced to crash like Greece with major political turmoil. Either way we will be in a recession for a long time. I haven’t read the book but I have seen some of his videos and he mentioned gold as one of the investments suggested.
We will be relatively poorer but it is not possible to maintain such a huge living standard gap compared to the rest of the world in this free trade environment. However, we will still be very rich.
[quote=Hobie]No, I haven’t but I like to read writings by economists.
If his time line and predictions are even half correct, we are going into deep do do.
Does he offer any suggestions to prevent these bubbles? Or where he would park his money 😉
Actually, I am very concerned with our economy. We need to return to producing stuff, a manufacturing economy. However several factors really hinder this goal: Costly energy, restrictive environmental policies and regulations, cheap labor overseas.
Plus I have trouble with a, “jobless recovery”. This assumes we import our much manufactured goods. It also means much of the related jobs will not be based in the US either.
I feel we need the design, engineering, manufacturing to happen in the States for our economy to recover. Of course, it would help to revisit government spending;)[/quote]
