No, I don’t need a job, but we might.
The economy is heading straight into the toilet.
Whereas other economic reporters often refer to “recession” as “the ‘R’ word,” we at SHTFblog toss it around like candy. In fact, we’ll even say the ‘D’ word – DEPRESSION.
Now, now, I’m not saying that we’re heading toward The Great Depression II (though anything is possible), but I AM saying that the economy’s near future . . . well, it ain’t lookin’ so good. The American consumer is burdened with debt, home values are plummeting, inflation is on the rise, the dollar continues to weaken, and energy prices are absurd.
“How bad can it get?” you ask. Well, that’s a very good question. Thank you for asking – you’re not the only one. Fortune magazine is asking as well: http://money.cnn.com/2007/11/23/magazines/fortune/barr_recession.fortune/index.htm?postversion=2007112615
Now, I could write 8 paragraphs here dissecting what was written in that article and analyzing every angle, but I’ll tell you what the PhD economists won’t – NOBODY knows what’s going to happen. You can get one “expert” to tell you one thing, and another to tell you something entirely different. Economics is a social science. Trying to predict society is . . . well, it can’t be predicted, which is why we Prepare FOR SHIT HITS THE FAN!
Where was I?
Oh yes, economists, they’re almost as accurate as a weatherman shit drunk on tequila, but I’ll tell you. No matter which way you slice it, no matter which way you dice it, my gut feeling is that we’re due for a correction . . . perhaps . . . a serious correction . . .
But hey, cheer up, I have token good news for the day:
Oil Watch – It has dropped dramatically since last report to settle (as of the close yesterday) at *insert sarcastic tone* only $90.62 a barrel.