Oracles of Doom come out swinging

SO what is going to happen to the United States over the next few years?

Are we going to see the dollar plummet and the cost of living skyrocket? Or are we entering into a 30's style deflationary environment where cash under our bed is the safest way to protect it?

Some of the biggest names that called this crisis have come out swinging again. Predictions vary, but all remain on the same page----that this recession still has a long way to go.

((Photo: SuperStock (fortune teller); Pete Turner/Getty Images (bomb))

For the Record:

I believe we are going to see the mother of all inflationary turns as the fed will be forced to print money just as Zimbabwae has done in order to keep its currency from going to zero. The fed has acted recklessly in their attempt to flush the system with cash and has caused the inflation train's motor to start up. It will only be a matter of time before just like the recession train before it, will leave too. Treasury bills may be going out at a zero to slightly negative rate at the current, but the idea that this will continue forever is presumptions. World economies will eventually decide, as Obama has, that pouring money into one's own economy would be better served than putting it in the risky box of American securities that for now remains 'safe'. Recently, the USA has been calling on China to relax restrictions on foreign banks. This is like the UN coming to the Iran's negotiation table and telling them to stop enriching uranium: it may 'work' for a little while but give it time and Iran will be right back at it.

Despite the idea that we control the buying power that China needs to maintain it's export growth, we still do not have the upper hand with this nation. We are subject to them in a way that is much bigger than simply having to buy their tainted dog-food, rather due to the fact they hold a $1.4 trillion trade surplus and counting, going up by about $1 billion per day. In effect, every person in the (rich) United States has over the past 10 years or so borrowed about $4,000

We are going to have to pay for what we have created eventually. It will come.
from someone in the (poor) People’s Republic of China.