Economy is going down...

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Hey guys,

I just want to direct you to one of my blog post where I posted two insightful videos that Tony Robbins made about the economy.

Tony Robbins And His Economic WarningsDesmondOng.com | Internet Marketing Expert | DesmondOng.com | Internet Marketing Expert

First of all, few things that you need to understand.

As a current economics major in class, I find this really interesting. Me and my group of "economists" believe that good things always end with bad outcomes, and vice versa.

So I totally believe that the economy will be going down pretty soon... How long? I don't know. How early? I don't know.

But this is truly a fair warning for all of you out there who have 90% of your money on investments. Make sure you diversify wisely.


Thanks and I wish you all the best,
-Desmond
  • Profile picture of the author Desmond Ong
    If you know anything about the economy, New York is climbing up really fast at the moment now. (According to New York Times)
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    • Profile picture of the author ThomM
      Originally Posted by Desmond Ong View Post

      If you know anything about the economy, New York is climbing up really fast at the moment now. (According to New York Times)
      You want to explain that.
      I live in New York and the only fast climbing we are doing is on that ladder to the poor house.
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  • Profile picture of the author Mcrofts
    What are you Talkin about Over here thing's have been looking Great, Unfortunatly.
    Our Dollar Keeps Rising, US/Euro/GBP Keep GOing Down, Good Stuff

    I say Unfortunatly, because any income I make is Generally US Dollar's & before would be more $ + % But out Dollar Keeps Creeping up.
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  • Profile picture of the author gareth
    Its always like this before a world war .. oops
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  • Profile picture of the author derekwong28
    I am pretty convinced that most of the developed world is heading for a "lost decade"

    http://en.wikipedia.org/wiki/Lost_Decade_(Japan)

    On February 9, 2009, in warning of the dire consequences facing the United States economy after its housing bubble, U.S. President Barack Obama cited the "lost decade" as a prospect the American economy faced.

    One mitigating factor is that the bubble in US and Europe was no where as bad as it was in Japan.

    Right now, the only bright spot is China and other emerging markets. However, China does have its own property bubble. But at least, it is recognzed by its government who have put in place a number of clamping measures. If not, the bubble would have been much higher by now.
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    • Profile picture of the author seasoned
      Originally Posted by derekwong28 View Post

      I am pretty convinced that most of the developed world is heading for a "lost decade"

      http://en.wikipedia.org/wiki/Lost_Decade_(Japan)

      On February 9, 2009, in warning of the dire consequences facing the United States economy after its housing bubble, U.S. President Barack Obama cited the "lost decade" as a prospect the American economy faced.

      One mitigating factor is that the bubble in US and Europe was no where as bad as it was in Japan.

      Right now, the only bright spot is China and other emerging markets. However, China does have its own property bubble. But at least, it is recognzed by its government who have put in place a number of clamping measures. If not, the bubble would have been much higher by now.
      IRONICALLY, THAT is what those IDIOTS at "the fed" were trying to avoid! When the STOCK MARKET looks like it is doing too well, etc... they RAISE the "fed funds rate", and cause a collapse. The THEORY is that they avoid a problem like we have NOW! Of course, they don't do that with the housing market, and really couldn't. Of course, they don't(or rather DIDN'T) have to because of reserve requirements, safety, and expenses. Who knew that some jerk(not naming names or place) would cause some to bypass all that and create a problem such as this.

      Steve
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  • Profile picture of the author Gary Pettit
    Diversify, diversify, diversify.
    And yukon, it started with the crash in the early 1990's.
    That's when King Kong fell from the Empire State Building, so to speak, and all the rules changed.
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    • Profile picture of the author seasoned
      Originally Posted by sparkie2260 View Post

      Diversify, diversify, diversify.
      And yukon, it started with the crash in the early 1990's.
      That's when King Kong fell from the Empire State Building, so to speak, and all the rules changed.
      As little diversified as I am, I may be more than you!

      Do you have realestate, precious metals, different lines of credit, and foreign funds?

      You DO realize that we aren't talking about stocks and bonds here, right?

      Steve
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  • Profile picture of the author KimW
    Interestingly enough ,and I wish I could remember where I saw it,but I can't, I saw where they say our last recession ended in 2009.
    <cough>bullcrap<cough>
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    • Profile picture of the author Kay King
      Kim -

      Those were the same "experts" who claimed there was no recession and then announced "the recession began one year ago". Out here, the rest of us already knew that.

      October is traditionally a risky stock market month. With an election year I expect everything possible will be done to make the economy appear to be improving - then if it crashes after the November elections fingers will be wildly pointing.

      I don't think the recession has ended at all but has only leveled off right now. Could go either way - but I'm not terribly optimistic.

      kay
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    • Profile picture of the author seasoned
      Originally Posted by KimW View Post

      Interestingly enough ,and I wish I could remember where I saw it,but I can't, I saw where they say our last recession ended in 2009.
      <cough>bullcrap<cough>
      Maybe THIS will help you remember!

      So Long, Recession (INTC, PFE, WMT)

      Steve
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  • Profile picture of the author gareth
    Kiwi land boomed from about 1994 right through to 2007.

    Man it was great. You could be flat broke, get out of bed, walk down the street & pick from 3-4 jobs. I loved it.

    90's everybody was a software developer & the newspaper had 5-6 pages full of IT job classifieds. Young people were doing a few weeks training and walking straight into 50k a year jobs.

    But the whole thing was BS and had to fall over, when it did it was obvious to me the money (much of it drug money) would be moved into property & construction.

    This was the "bounce" the secondary market peak before the real crash which we have now experienced.

    In reality the western economies should have collapsed, but the bailouts have prolonged the death pangs.

    What happens next ? We are all in debt up to out ears. It will not continue - there will be a total collapse !!!

    The bail outs were like sticking a pacemaker into a dude about to croak. But the pacemaker only lasts for a short time.

    Usually when the snake is cornered it bites. And we are the big snake here in the western world.

    We are armed to the hilt (collectively) & we are used to being top dog. The western world will not simply shrivel and die amid the excrement of social decline.

    More likely the final military conflict between east and west. Thats been put off even longer than fixing the economy.

    I predict the economic crisis will result in a huge and catastrophic world war.

    How else do we escape our debt & control the ever compounding escalation of crime & social subversion ?

    Terrorism is merely an evolution of multiple crime waves. Otherwise anarchy & social collapse will end democracy within 20 years.

    Thats what the Chinese & Russians want to happen.

    I see the following happening:

    1. The global economy totally collapsing within the next 6 years (no bailout this time)

    2. Covert state sponsored terror attack of high magnitude against US or Europe

    3. A:Collapse of democracy in west, or B: global military conflict 2016-2020 period

    B: If there is a global conflict it will go NBC & there will be potentially a mass extinction event. There will also be a technological singularity as a consequence.

    A: If western society & democracy collapse singularity technologies will potentially be in the hands of criminals and terrorists. Oppressive governments will actively suppress singularity for the mass population.
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    • Profile picture of the author Kay King
      CNN aired an interesting interview with Donald Trump yesterday. His views on the economy as it is today from a business focus were fascinating.

      Love him or hate him - this is a person with a brilliant business mind and his comment on several topics made a lot of sense.

      He pointed out (rightly) that we are building the Chinese economy by failing to have tariffs in place for all the good that used to be made in the US and are now only made in China.

      He spoke of trying to buy US goods such as windows and finding they are no longer manufactured in the U.S.

      I've long thought the current crisis in large part goes back much farther than we've realized. In the 70's the leaders of both business and govt became entrenched in the idea that the US would become a "service provider to the world". No longer would people here have to do those dirty, hard manufacturing jobs but more and more people would work in clean offices providing customer relations services.

      How's that workin for ya? From the 70s on the outsourcing race began when companies found they could go overseas to produce and then import the products back to the US to sell. No unions to deal with, no strict OSHA rules to abide by - and plenty of cheap labor.

      We've totally lost our manufacturing base and if we can't get that back I don't think we have an economy that can be sustained.

      Trump pointed out the resistance to import tariffs comes from pols who are afraid of angering a country that owns our debt. He said such a tariff could pay off that debt in very few years. Interesting concept - if we only had the guts for it.

      He said businesses that buy in China to sell here are amazing they get by with the profits they are making. If it cost them as much to export work and import goods for sale - they'd go back to manufacturing in the U.S.

      kay
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      • Profile picture of the author John Henderson
        Originally Posted by Kay King View Post

        I've long thought the current crisis in large part goes back much farther than we've realized. In the 70's the leaders of both business and govt became entrenched in the idea that the US would become a "service provider to the world". No longer would people here have to do those dirty, hard manufacturing jobs but more and more people would work in clean offices providing customer relations services.

        How's that workin for ya? From the 70s on the outsourcing race began when companies found they could go overseas to produce and then import the products back to the US to sell. No unions to deal with, no strict OSHA rules to abide by - and plenty of cheap labor.

        We've totally lost our manufacturing base and if we can't get that back I don't think we have an economy that can be sustained.
        Hi Kay. You might be pleased/horrified to hear that James Dyson (the British vacuum cleaner guy) completely agrees with your analysis and ominous forecast...

        Now I'm frequently told that championing manufacturing is yesterday's game. That we live in a post-industrial society. That the service and creative industries have replaced manufacturing.

        Well consider this:

        Of the world's ten largest corporations by revenue, nine make big, heavy things. Like cars or ships' turbines or computer hardware or consumer electronics.

        These companies rely on their engineering and their technology - not their styling - for their wealth. Only one - WalMart - is a service company.

        Look at the most profitable companies and again the facts speak for themselves. In the top ten, only three are service companies.

        And as for the world's least profitable company? Why it's Vodafone, a service company that made a loss of more than 15 billion dollars last year.

        So why does Britain need a manufacturing industry in this supposed age of the service economy?

        My answer is simple. We have no choice. Only one in seven British jobs is in manufacturing, yet they generate nearly two-thirds of exports.

        Manufacturing creates the wealth and spending power that feed the service industry.

        It's obvious. The rest of the world relies on manufacturing for its wealth.

        Why do we think we can be different? If we want to maintain our position alongside other leading nations, we've got to join the rest.

        We must take steps now. In ten years time China, with its mantra of employment over profit, will not only be the workshop of the world, it will be the technological superpower.

        And what will happen to us?

        Britain's service industries will wither without their manufacturing customers. Call centres and software developers are already disappearing to efficient service economies. Such as India.

        Innovation will be stifled.

        We will be surrounded by products that we have not made. That's something that is already culturally destructive. Ultimately we will be at the mercy of the buying habits of Chinese shoppers.

        The impact on the trade deficit will be ruinous.

        The loss of manufacturing expertise will compromise our military strength.

        History repeatedly shows the correlation between a nation's wealth and its diplomatic and military powers.

        Before the Industrial Revolution, Britain accounted for just one fiftieth of the world's manufacturing output, while China spoke for a third.

        Fewer than a hundred years later, China had been invaded by a small British army.

        Its industry was now backward. Britain, with two per cent of the world's population, was making nearly half the world's goods. And politically we led the world.

        So if we want to protect our quality of life and our influence, we must maintain our average wealth - our GDP per capita.

        The only sure way to do that, is to continue to innovate and manufacture.
        The whole lecture that he gave is here...
        BBC - Press Office - Richard Dimbleby Lecture 2004
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        • Profile picture of the author TimPhelan
          This graph shows things probably won't get better in the housing industry for a couple years. Check out the resets that are due in 2010 and 2011. These are not sub prime and can be refinanced, but they could also create some big problems.

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    • Profile picture of the author seasoned
      Originally Posted by gareth View Post

      Kiwi land boomed from about 1994 right through to 2007.

      Man it was great. You could be flat broke, get out of bed, walk down the street & pick from 3-4 jobs. I loved it.

      90's everybody was a software developer & the newspaper had 5-6 pages full of IT job classifieds. Young people were doing a few weeks training and walking straight into 50k a year jobs.

      But the whole thing was BS and had to fall over, when it did it was obvious to me the money (much of it drug money) would be moved into property & construction.

      This was the "bounce" the secondary market peak before the real crash which we have now experienced.

      In reality the western economies should have collapsed, but the bailouts have prolonged the death pangs.

      What happens next ? We are all in debt up to out ears. It will not continue - there will be a total collapse !!!

      The bail outs were like sticking a pacemaker into a dude about to croak. But the pacemaker only lasts for a short time.

      Usually when the snake is cornered it bites. And we are the big snake here in the western world.

      We are armed to the hilt (collectively) & we are used to being top dog. The western world will not simply shrivel and die amid the excrement of social decline.

      More likely the final military conflict between east and west. Thats been put off even longer than fixing the economy.

      I predict the economic crisis will result in a huge and catastrophic world war.

      How else do we escape our debt & control the ever compounding escalation of crime & social subversion ?

      Terrorism is merely an evolution of multiple crime waves. Otherwise anarchy & social collapse will end democracy within 20 years.

      Thats what the Chinese & Russians want to happen.

      I see the following happening:

      1. The global economy totally collapsing within the next 6 years (no bailout this time)

      2. Covert state sponsored terror attack of high magnitude against US or Europe

      3. A:Collapse of democracy in west, or B: global military conflict 2016-2020 period

      B: If there is a global conflict it will go NBC & there will be potentially a mass extinction event. There will also be a technological singularity as a consequence.

      A: If western society & democracy collapse singularity technologies will potentially be in the hands of criminals and terrorists. Oppressive governments will actively suppress singularity for the mass population.
      WELL PUT, especially about the pacemaker in the dead person. I earlier said the fed relaxing rates was like removing the knife from someone, dead after stabing them, and expecting them to come back to life.

      Steve
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  • Profile picture of the author customsignsbanner
    Banned
    hmm... the only way i can see us coming back on top!! like HUUUGE is if we go to war. and this time come back with resources (iraq mistake) lol
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    • Profile picture of the author seasoned
      Originally Posted by customsignsbanner View Post

      hmm... the only way i can see us coming back on top!! like HUUUGE is if we go to war. and this time come back with resources (iraq mistake) lol
      And exactly WHAT country builds the weapons?

      Steve
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  • Profile picture of the author HeySal
    Official unemployment rates (which are compiled only from those drawing unemployment benefits) are in the double digits - and actual is figured as high as 30% in some areas. We are still breaking records for home foreclosures........yet I hear talk of ANOTHER recession? When the hell did the first one go away? Just because we aren't tanking as fast at some times than we are at other times, doesn't mean recovery and it doesn't mean that we aren't still on a downward spiral. It's the same recession with one exception -- economic crises of this size USED to be called depression. I see euphemizing situations does seem to have the desired effect on the population's thinking.
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    • Profile picture of the author stealth1961
      Hyperinflation is on the way...we recently crossed the Bernholz Line and "that's when ordinary inflation start to take on hyperinflationary characteristics as a country's budget deficit exceeds a third of government expenditures and remains there for several years". Get ready for the consequences of "out of control spending" flooding us worthless fiat currency.
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      • Profile picture of the author HeySal
        Originally Posted by stealth1961 View Post

        Hyperinflation is on the way...we recently crossed the Bernholz Line
        Not to mention the FED has monetized our debt. People should know straight off what that means.
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    • Profile picture of the author seasoned
      Originally Posted by HeySal View Post

      Official unemployment rates (which are compiled only from those drawing unemployment benefits) are in the double digits - and actual is figured as high as 30% in some areas. We are still breaking records for home foreclosures........yet I hear talk of ANOTHER recession? When the hell did the first one go away? Just because we aren't tanking as fast at some times than we are at other times, doesn't mean recovery and it doesn't mean that we aren't still on a downward spiral. It's the same recession with one exception -- economic crises of this size USED to be called depression. I see euphemizing situations does seem to have the desired effect on the population's thinking.
      Actually, I think they mean the stockmarket. There is quite a bull market. I was GOING to pull my money out late august, slipped, and am still in. LUCKILY, it has been climbing ever since. Still, october is usually even WORSE! And I have over $50K in LIMBO! It comes out late september.

      Anyway, we are OUT of that recession, and headed for another. The thing is that the "stimulus" clouded the issue. It clouded EVERYTHING! It is like you are broke, have expenses for 3 months($9000 total), inherit $9000 from a relative, and just ACT like you aren't broke. It works GREAT, and you can act rich etc..., for 3 MONTHS! THEN, you are right back where you were. The US economy is living off of "savings" and "promises"!

      Steve
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      • Profile picture of the author ThomM
        Someone on the news today made a comment that I thought was interesting.
        First he said if we bailed out the companies, banks, etc. that put us into the recession, why do we think it won't happen again.
        It's like taking a dead body and trying to revive it. You can pump all the drugs (think money) into it you want, but at the end of the day dead is still dead. What the bail out did was allow those that put us into this mess to continue with business as usual.
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  • Profile picture of the author gareth
    I tend to follow Elliot wave theory. But I do concede that it is not an infinite loop. At some stage the theory will cease to apply. It is a socio economic predictor so when human decision making no longer guides the economy at all then Elliot wave theory will stop working. This should happen with the emergence of general AI in 10 - 20 years time.

    But right now the Elliot wave prediction is economic collapse and triple digit DJIA.

    This is to happen by 2016.
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    • Profile picture of the author Kay King
      We are still breaking records for home foreclosures........yet I hear talk of ANOTHER recession?
      25% increase over last year - which was one of the worst years on record!

      The problem (and I've probably said it before) is people believed the spin from the first wave of foreclosures - that homeowners deserved foreclosure for taking risky loans and for buying more house than they could afford.

      Yes - those adjusted interest rates began the deluge of foreclosures but they are no longer the foreclosures today. 1 in 10 homeowners is in danger of losing their home NOW - not acceptable.

      These are responsible people who have often owned the home for many years but have been brought down by a crashing economy and long term unemployment.

      Prices of homes are still falling in many parts of the country. A small home on the street behind my house sold in 2008 (!) for $116,900. At the time it was under priced because the homeowner wanted a fast sale - it sold in less than 2 weeks.

      That house is back on the market today for $84,500 and no takers.

      I'm not usually a gloom and doom type - but we can't afford to believe in hidden silver linings today. Big banks are doing fine - but the country and the people aren't. I think the economy right now could go either way - but it's hard to be optimistic.
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  • Profile picture of the author Sylonious
    His Tv Show got canceled after like 3 episodes. It was a hearfelt show, but I honestly couldn't get into dealing with other peoples problems right now. IMO it seemed like he was trying to say to everyone that they could have it much worse so they shouldn't be upset about their lives. I don't think Americans want to hear that right now.

    This was a great post ONG. I love this. He's dealing with reality and not trying to put a positive spin on things.
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  • Profile picture of the author paulie888
    I am aware of and have read the report that was released about the recession. When they say the recession has officially ended (towards the end of 2009), these economists have a different definition of this than what the average person on the street might think. What the economists mean by 'the recession has ended' is that the economy reached its lowest point in 2009, and it does NOT mean that the economy has recovered to pre-recession levels. It could take many years before we get back to pre-recession levels in the economy, and I don't think anyone reputable is making any bold predictions about exactly when it'll happen!
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    • Profile picture of the author seasoned
      Originally Posted by paulie888 View Post

      I am aware of and have read the report that was released about the recession. When they say the recession has officially ended (towards the end of 2009), these economists have a different definition of this than what the average person on the street might think. What the economists mean by 'the recession has ended' is that the economy reached its lowest point in 2009, and it does NOT mean that the economy has recovered to pre-recession levels. It could take many years before we get back to pre-recession levels in the economy, and I don't think anyone reputable is making any bold predictions about exactly when it'll happen!
      The chart at So Long, Recession (INTC, PFE, WMT) indicates it has recovered over 50%! Of course, that is GARBAGE, just ONE indicator that is FAR from precise, and rigged, but they ARE saying it!

      Steve
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  • Profile picture of the author Domenic Carlson
    A double-dip recession is possible but most people now believe it's very unlikely. Furthermore Tony Robbins is a motivational speaker. I wouldn't listen to him about the economy just like I would ask him to do surgery on my knee.
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    • Profile picture of the author Kay King
      Tim -

      The problem is the projections keep moving farther out as reality intrudes.

      Originally the projection was a home market recovery in 2010-11.

      Makes me wonder if the projected drop will be because very few people will own their homes by 2013-15.

      In early 2009 the govt stated that 1 in 16 homeowners was at risk of foreclosure. Now that number is listed as 1 in 10.

      The only reason for good ARMS to have such a default rate is the economy and unemployment. Good ARMS usually have a cap on time/increase and on lifetime of the loan. They can't be refinanced now because only those with super high credit ratings can qualify today.
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      Saving one dog will not change the world - but the world changes forever for that one dog
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      It actually doesn't take much to be considered a 'difficult woman' -
      that's why there are so many of us.
      ...jane goodall
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      • Profile picture of the author TimPhelan
        Those aren't projections, just a graph of the # of real resets on loans.

        I don't remember too many projections on a home market recovery in 2010-2011. From what I have always read this was going to be a very slow recovery, if it does recover.

        Originally Posted by Kay King View Post

        Tim -

        The problem is the projections keep moving farther out as reality intrudes.

        Originally the projection was a home market recovery in 2010-11.

        Makes me wonder if the projected drop will be because very few people will own their homes by 2013-15.

        In early 2009 the govt stated that 1 in 16 homeowners was at risk of foreclosure. Now that number is listed as 1 in 10.

        The only reason for good ARMS to have such a default rate is the economy and unemployment. Good ARMS usually have a cap on time/increase and on lifetime of the loan. They can't be refinanced now because only those with super high credit ratings can qualify today.
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  • Profile picture of the author gareth
    Don't expect any recovery in the next 5 years.

    As for manufacturing - how does a nation maintain national security if it has no manufacturing base ?

    The nation with the lead in manufacturing has dominance militarily.

    So you must ask was the "service based economy" hogwash aimed at undermining the US military industrial complex ?

    That is what is about to happen. In the next 10 years possibly but there is one thing that can reverse all of this and its nano-technology.

    If IC's could be manufactured on the desktop and products could be nano-produced on the desktop the whole industrial world and manufacturing will change forever.

    Essentially manufacturing would cease to be of central economic significance as people could do it all over the world in networked projects.

    Robotics & advanced AI both of which will be revolutionized in the next 10 - 15 years will also turn all of the present trends in manufacturing upside down.

    Robotics & AI will also undermine any advantage held by India & China in terms of population.

    Quite simply in 20 years time you will be able to manufacture devices and products at home on demand. People & factories will network to create larger projects.

    There will at some stage be more robots than people - robots that are more intelligent than people.

    These "robots" will function as consumers within the economy just as humans do.

    Don't doubt for one second that this will happen - every car will be a robot - there are more cars than people already.

    If anything can save our ass its robotics, AI & nanotech.
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    • Profile picture of the author seasoned
      Originally Posted by gareth View Post

      Don't expect any recovery in the next 5 years.

      As for manufacturing - how does a nation maintain national security if it has no manufacturing base ?

      The nation with the lead in manufacturing has dominance militarily.

      So you must ask was the "service based economy" hogwash aimed at undermining the US military industrial complex ?

      That is what is about to happen. In the next 10 years possibly but there is one thing that can reverse all of this and its nano-technology.

      If IC's could be manufactured on the desktop and products could be nano-produced on the desktop the whole industrial world and manufacturing will change forever.

      Essentially manufacturing would cease to be of central economic significance as people could do it all over the world in networked projects.

      Robotics & advanced AI both of which will be revolutionized in the next 10 - 15 years will also turn all of the present trends in manufacturing upside down.

      Robotics & AI will also undermine any advantage held by India & China in terms of population.

      Quite simply in 20 years time you will be able to manufacture devices and products at home on demand. People & factories will network to create larger projects.

      There will at some stage be more robots than people - robots that are more intelligent than people.

      These "robots" will function as consumers within the economy just as humans do.

      Don't doubt for one second that this will happen - every car will be a robot - there are more cars than people already.

      If anything can save our ass its robotics, AI & nanotech.

      I don't think nanotech is a real viable technology, or that AI will really be that great.

      As far as advantage in production, people are keeping that at bay. The US could have had robots building cars, etc... before japan!

      It is ironic that we probably have MORE intelligent machines baking and packing COOKIES than we do CARS!

      And, with all the talk about needing illegals to harvest crops, how many here realize that they ALREADY have machines that can harvest ACRES BY THEMSELVES, of things one would never dream could be automated. Unfortunately, they cost a lot, they are BIG, and computerized, but they do a LOT! They don't even need a DRIVER! I think some can even radio for help if they need it.

      Steve
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  • Profile picture of the author derekwong28
    It is well known fact that in deep recesssions, companies and the rich recover much faster than ordinary people. For one, the cost of doing business is lower.

    As to the next trigger, I am quite convinced it will be China. Their stimulus has gone completely haywire. Not only is that package much larger than the US in comparison to the size of their economy. They also forced their banks to lend indiscriiminately as well. A lot of that money has gone into building more manufacturing capacity even though the demand had not recover fully in the Europe and US. There is also a massive property bubble. No country has grown at such a fast rate for such a long period of time without a massive correction.
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    Do not get between a wombat and a chocolate biscuit; you will regret it dearly!

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  • Profile picture of the author JackPowers
    For economic advice you can trust, stay far away from the Krugmans and Bernankes.

    The FED created this depression with their 'quantitative easing', creating malinvestments such as the subprime loan bubble.

    If you want to know what's really going on in the economy, I recommend reading and listening to everything Ron Paul and Peter Schiff.
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  • Profile picture of the author gareth
    Then its time to be tough.
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    Gareth M Thomas
    Serial Entrepreneur
    Auckland, New Zealand

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