The following link PREDICTS JUST THAT. Can he be right? I have been calling for melt down for a very long time. The truth is I have only predicted one crash and that was 2008. Something Bernie Sanders said the other day lends to this tale , when he said perhaps growth forever is not doable. He is right of course for many reasons but simplifying it down to a simple fact by forever seeking growth we are asking a planet to support such an idea with limited resources. It doesn't take a rocket scientist to know that is an impossible task.
The writer takes the average citizen to task for using 10 hours of media a day , I felt like he was pointing his finger directly at me. I don't keep track of my hours but I do spend a lot of time pursing the truth of happenings in the world. If one wants to know what is really going on you have to do a lot of surfing. You won't get any important stuff from MSM they are merely propaganda machines concentrating on the government and on whatever plane crash or major killing event. If they get a good one they will do almost nothing but that story, sometimes for weeks. So if you want the truth of whats happening in the world you have to spend the time.
If there is a major crash WILL IT CHANGE OUR LIVES COMPLETELY? There's the question we should work on. The last great depression brought about major changes in the way we do business. People suffered mightily and over a 10 year period many things changed. For a while things started to improve, then the conservatives had their way and austerity programs were passed that immediately killed the recovery.
So what are the odds for a downturn described in the link. Many factors that you already know guide you to say HELL YES a major downturn is coming. In a world of total market manipulation you see stock prices through the roof a level you know is false and cannot be maintained. Margin debt is reaching a critical point same as 29. The banks are holding close to 800 trillion in derivatives while having something in the range of 10 trillion in assets, how could anything go wrong? With wages falling for decades and good jobs disappearing for years the consumer who is the backbone of our economy doesn't have the means to prop up the market. I keep wondering just what the hell the 1% are doing , seems to me like they are killing the goosed that laid the golden egg.
With world economics being what they are, with the EU crumbling under severe austerity, the US struggling to grow, the world financial matter in at turmoil with the BRIC nations setting up a separate financial system putting the dollar as reserve currency in jeoprady. The odds for a perfect financial storm seem to be pretty short odds.
Will a crash of major proportions occur? I believe that it is almost impossible for it to not crash all the signs are there. Keep in mind The US coup in Ukraine with the goal of dragging Russia into a war smacks of 1941 all over again. Time will tell so hold on.