MIT Institutes Gloomy Prediction: Global Economic Collapse By 2030 – Slashdot

Were still in the middle of our economic disaster. This is just the eye of the storm. Housing market is still deteriorating.Labor market still deteriorating.People are falling off the end of 99 weeks of unemployment.Savings rate plunging.Banks are still insolvent.Oil has been holding strong in the triple digits a barrel The US economy will grind to a halt with $5-6 gas, if not sooner.ZIRP will pump new cash into the economy indefinitely, because a rise in interest rates would crash the US economy in short order. Checked your food budget recently?Europes financial system is one giant circle-jerk, with broke countries guaranteeing the bonds of broke banks, who receive loans from the ECB, which accepts collateral in the form of broke-government bonds.Chinas economy is overheating massively. Inflation is rampant and they are about to have a real estate collapse that makes ours look trivial by comparison.And lets just say that the new iPad better break all records, because Apple is the only thing propping up the stock market right now.This is currency endgame.

via MIT Institutes Gloomy Prediction: Global Economic Collapse By 2030 – Slashdot.

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