Inflation/Deflation....Depression for Sure
Housing prices still falling at the fastest pace on record...right after falling for the fastest pace on record.....does that mean housing is falling faster and faster??? At this rate, if we fall a little further, there were be no place left to fall......no wonder Greenspan sees housing bottoming out at some point.....so does Alstry.....remember, just before smashing into the ground and bursting into a ball of fire....and plane only has to fall inches before crashing into the ground.
Tax revenues to CA falling 30, 40 and 50%...CA's General Fund revenues evaporating. Same with tax revenues to the Federal Government. As you know, a relatively small percentage of the population pays most of the taxes in America...at this rate...we could soon tax those that can pay taxes 100% of their income and still have a deficit.
Credit is about to be cut off to 1,000,000 small business in the next few weeks. Millions more citizens have had or about to have credit cut off or reduced. Any thoughts about the fallout from that?????
With unemployment/underemployment approaching 20%.....and millions of kids off of school soon and no jobs.....restlessness could be a serious problem as we enter summer months.
With tax revenues evaporating, credit being cut off to millions of Americans, jobs being cut, wages being slashed, and fewer and fewer companies hiring, exports decreasing, foreclosures increasing, home prices crashing....Alstry is beginning to think its party time.....right after you prepare....
Prepare for 30-50% unemployment.
Prepare for credit being cut off.
Prepare for home prices dropping to 1980 levels.
Prepare for your wage/income to be cut 10-70%.
If none of the above happen....at least you were prepared.
My suggestion, in the mean time....hug your children, make love to your spouse...two or three times if you are so inclined, invite your neighbors over for a beer, smile at a stranger walking by, and be empathetic to the millions upon millions of Americans who are lonely, homeless, jobless, and looking for love in all the wrong places.
It's tough out there and getting tougher......my job is to give you a heads up as to what may be coming that few have the capacity nor the inclination to do......let's hope Alstry is dead wrong.....but Alstry seriously doubts it.....Alstrynomics is all about being right.
Soon everyone will be calling the current downturn a Depression.....at this point....the only question is how do we prepare for something we have never experienced before??????