Alstry Calling THE GREATEST DEPRESSION
I know there is Schiff, Roubini, Shedlock, and Taleb. All have negative outlooks. But none as negative as Alstry as far as I can tell. Based on current conditions, it seems clear that the outlook appears for more extreme conditions than we had in THE GREAT DEPRESSION.
This is not something to be scared about, simply something to be prepared for......at this point, what I am not certain about is whether it will be a deflationary depression or an inflationary depression. The former will be bad, the latter worse.
Based on reasonable extrapolation, it is not a stretch to forecast under/unemployment of North of 30%.....this includes those working but unable to make a subsistance living.
In the thirties capital was flowing to America, now it is flowing to the rest of the world, As a result, industries are packing up or shutting down. But the problem is not just America centric, it is world wide,,,,and not just the countries that traditionally make headlines.....take a look at Iceland or Greece.
The problems are spreading, and faster than many think....the world is interconnected today in ways that never existed a couple generations ago. My job loss blogs are simply evidence of a much bigger problem. Before you can understand the forest, you must know the trees.....but don't get fixated on the trees or you will miss the forest.
This morning we are cheering a plan that likely will bankrupt the auto companies in 90 days....the desperation is reaching such obvious levels.....it leads one to ask....who is John Galt???