Monday, March 02, 2009

Prophetic video on US economy I saw 1.5 years ago!

I saw this series of video 1.5 years ago. I just re-watched them and things have unfolded almost exactly as they have predicted. Unfortunately, if these guys are right all the way, things will get a lot worse. These guys are from McAlvany Weekly Commentary [Link]

Next part is here


Anonymous said...

Did our PAP gahmen also watched? Shouldn't they have some form of economic intelligence gathering just like their ISD to monitor political issues?

I think if they do, they would not have invested in Merrill Lynch, Citigroup, etc. Also LKY would not have proclaimed Golden period too soon. Or say China and India will help drive the world economy if the US cannot. Or his great admiration of those Wall street investment bankers and their top pay and even recruited them into GIC.

So Singapore also follows the US into deep shit, much faster and worse than others.

Anonymous said...

Of course PAP knew how bad things were going to get. But USA is very hungry and desperate for cash now. What easier way to get quick money than to force the PAP kleptocrats to invest in these troubled banks?

It would be very easy because the PAP kleptocracy have too many skeletons in the closet and are most fearful of regime change, something the US is very good at.

Anonymous said...

I'm watching the presentation and it gave me the creeps.

Negative fundamentals indeed!

China and India shouldn't just be contented of being the world's factories. They should be building their middle classes to be the next monster in demand through clean, honest and hardworking policies.

Onlooker said...

Credit cards,Sub prime,economic meltdown.
All these happen under George Bush administration.
So why wasn't he impeached yet?
The worst is credit card debts if you look close enough their interest are even worse than loan sharks.

Anonymous said...

LKY "great admiration of those Wall street investment bankers and their top pay and even recruited them into GIC"

The admirations are coverup to their corrupt methods of drawing the Highest Salaries in the World of a then "Multi-billion economy" as President, Minister Mentor, Senior Minister, Prime Minister, Deputy Ministers, Ministers, Ministers of State, Permanent Parliamentary Secretaries, Chief Justice, High Court Judges, Attorney General, Magistrates, etc, all "Political Eunuch and Cronies" of LKY and family at the expense of mass Singaporeans.

Why wait for 10% commissions?

The point that they talked shamelessly and without remorse for bankrupting Singapore National Reserves "with no natural resource to fall back on" and call it 20 years long term investment.

LKY can last 20 years?? I bet LHL wwouldn't last that long. Surely, ABC Learning, Micropolis, etc are now perpetual investments.


Anonymous said...

The fact that China could produce all the things needed by the rest of the world and at cheaper prices says a lot about the inflated prices of all the branded consumer goods made elsewhere.

But it also says a lot about the extent of the problem China is grappling with. With decreasing US and worldwide demand for their goods, China's production capacity will have to downsize, which will mean the further closure of vast numbers of factories, if this downturn keeps on festering for years and the excesses and wastefulness of the US and the West are curtailed.

China is also going to face the problem of its property sector. The overbuilding of commercial properties before the Olympics has resulted in 100 million sq ft of office space lying vacant. It is estimated that this will need 14 years to take up, based on the take up rate of 7 million sq ft a year during the boom period. How would that affect the economy with the anticipated cutbacks in building activities cannot be underestimated.

Lost Citizen

Anonymous said...

Looks like this is definitely not an ordinary recession followed by a recovery like in the past. It may mark the beginning of a new era of economic affairs and lifestyle changes, for the worse, to many in the west and asia, in terms of consumption and luxury.

This will similarly have a huge impact on Singapore, which depends totally on external trade, investments and finance with the rest of the world, for we have no significant domestic consumption, trade or natural resources of our own to drive our growth.

In short, things can be scary for the majority who do not have enough savings to last for some time and we are not a welfare state.