Once again Greece is in the lead showing us the proper way to create a depression. Even though the IMF has publicly stated their formula on deficit reduction plan formula was wrong by a factor of 3 or 4..yet they continue to enforce the same formula to cure the economy of the EU countries.
I would study what is happening over there to get ahead of the curve how to deal during those times. You'll need them to survive our coming Great Depression,, My personal name for our coming event is"THE GREATEST DEPRESSION"
Why will it be different ? Our manufacturing base has been destroyed (50,000 factories gone) and with a true 23% unemployment rate , and damn near 0 demand from the consumers ,when either side imposes austerity measures as both sides plan to do, we will cycle toward depression size numbers.. According to data calculated by Shadow Stats we are actually have been with a couple of % of depression size numbers for years.. any further deterioration of the labor market will push us over into depression numbers..
The Shadow Stats also shows us with a real GNP of +2% and as they show in the 2008 can dip far into negative territory as their graph shows.. along with an inflation number you will find easier to believe than the government numbers shows.. 10% to 2% as you pocketbook has shown every payday.
If Obama wins the big question is "What will the republican congress do.. Will they continue to block any legislation favorable to the president and for us.. I they make the across the board cut in place to happen or will they work to save us.. You can guess which route they will take.. Not increasing the debit limit while forcing the budget cuts will without a doubt push us off the cliff.
So the bottom line I believe is "WE ARE IN FOR IT" no matter who wins. Cheerful fellow aren't I?