I TOLD YOU SO! Forecast: Major 1930s-Style Depression Coming

S&P downgraded the United States.  The Stock Market is tanking.  Inflation of consumer goods is rising.  Interest rates will be rising.  Be prepared.  I told you so!

The recently passed raising of the national debt ceiling along with continued out-of-control spending by Obama and the Democrats triggered the onslaught of a major worldwide depression that will eventually prove to be worse than what we had experienced during The Great Depression of the 1930s.  The ill-advised, outrageous debt ceiling deal made by both the Democrats and Republicans will bring on the worst calamity yet experienced over the past 2-1/2 years during the ill-fated Obama administration.  I have followed our economy over the past four years.  You can look forward to the following forecast occurring within the next year:

• Moody’s, Fitch, and S&P will downgrade the United States AAA credit rating.  The Chinese credit rating agency already has downgraded the U.S. rating.  If anybody with the most to lose, the Chinese should be the last to downgrade our rating.  All that does is place at risk all of the U.S. debt holdings that the Chinese currently owns.  Bad move on their part.  However, that just indicates what the three major rating agencies will do.  They will follow suit.
• The stock market is crashing.  The Dow dropped over 1,000 points in the past eight days in a row.  It will get worse in the ensuing days, weeks, and months.  Over the past decade, my stocks went as low as 40% of the original value and went back up to only 65% of its original value.  That was in 10 years!  I have already recently sold ALL of my stock that I had in the stock market.  Do likewise before your stocks will be worthless.  Everyone is going into gold.  Buy gold.  Gold is now over $1,600 an ounce and will dramatically rise to somewhere between $2,000 and $5,000 an ounce in the ensuing months and years.
• The national unemployment will go over 10% soon and will eventually go over 25%.  I have been unemployed for over 25 months now with no end in sight.  I am currently going through a personal financial depression.  When considering those who have stopped searching for work and those who are underemployed, the unemployment percentage is between 15-20%.  It will not take much to go over 25%.  Large corporations and international conglomerates will be laying off people in huge numbers starting right now.  Watch for the announcements in the ensuing weeks and months.
• The housing crisis will get worse.  Thousands of families are losing their homes to repossessions throughout the United States.  Homebuilding has come to a crawl.  It will get worse before it gets better.
• The national debt will continue to rise.  It is over $14.5 trillion right now and will soon go over $20 trillion.  All of the Washington politicians talk about saving the nation through the debt agreement they just made.  That is a bunch of lies.  If we went without raising the debt ceiling, nothing would have happened.  Nothing!  Life would have gone on just fine.  However, by the terrible decision made by Congress, they have triggered the upcoming economic crash, and nothing will stop it.  When an airplane is in a tailspin, it is better to let the controls go and eventually (if you are high enough) the plane will correct itself and start flying again instead of just falling.  Same with the economy.  When the politicians fiddle with it, they create more problems than they solve.  We must let the forces of the free market do its normal midcourse corrections.
• The Obama administration will continue to raise the national annual budget—that is, if they bother to create and follow one.  Their poor fiscal controls will exacerbate the problem.  They have decided to cut $500 billion from our armed forces, which is a huge mistake.  They are going to gut our defense forces.  Preserving, protecting, and defending the Constitution of the United States and providing for our national security and common defense are what Obama and the rest of the politicians have sworn oaths to uphold.  Instead, they are failing miserably in their most important responsibilities by screwing the Department of Defense, which is preserving the politicians’ rights to do all of the idiotic things they are doing.
• The United States will go further into debt because the politicians and the Obama administration will continue to spend like drunken sailors.  We must pass the balanced budget amendment.  Forget about the balanced spending program.  Deficit spending will continue for the last 17 months of Obama’s first and last term as president.  We must apply zero-based budgeting (ZBB) to running the financial aspects of our country.  If not, we will not stop the rampant, runaway spending.  My personal household budget is at 42% of the household budget we had prior to two years ago.  We reduced our household budget by 58%.  Hence, we have proven that it is doable.  The United States of America must do likewise by reducing its obese budget by 50%.  That 50% must come from all of the socialistic entitlement programs that we have gotten fat on over the past 60 years.  We must put the USA on “The Biggest Loser” program we watch on television.  Unnecessary discretionary spending must come to a total halt.  We must reduce taxes.  We must drastically reduce regulations.  Moreover, we must kill Obamacare.
• The Obama administration must stop depleting our national strategic petroleum reserves.  We must stop bailing out failing countries like Greece.  We must stop foreign aid and use the money for domestic aid.  We must defund the United Nations (UN), which is a subversive organization anyway.  We must learn how to conserve and live on our means.  Spend less than the revenues that come into the federal coffers.  Stop printing currency not backed by gold.  On the family level, we have a year’s supply of food.  The United States must do as Biblical Joseph did when he stored grain and other foodstuffs during the seven years of plenty to prepare for the seven years of famine throughout the land.  By that, pharaoh was able to help those who had absolutely nothing to eat.  When we are prepared, we need not fear.

There you go.  Prepare now for the coming Great Depression of 2012.  Additionally, this will not be George W. Bush’s fault.  It is the fault of both parties in the Congress of the United States and the Obama administration.  Spread the blame, not the wealth.  When you are prepared, you need not fear.

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