Just as the U.S. economy appears improving, four sets of forces could thrust America into an abyss rivaling the Great Depression.
First, for decades, the Washington has pursued more open global trade and domestic deregulation. These unleashed great potential for innovation and growth; however, China and other nations have abused freer trade through export subsidies and import barriers to boost their economies at the expense of others. And, in some industries, a few players have amassed great monopoly power—notably, large financial houses on Wall Street and Europe now have an iron grip on lending.
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1 comment:
Late in December 2012 we will be watching the year in review as we do in Dec of every year.The stock market will have surpassed 13,000 and the unemployment rate will be at about 8%.Crime in every category will be down.The US will still be at war,but not as involved as we currently are.Housing prices will have rebounded somewhat and mortgage rates will be at around 4.5%.Food prices will be slightly lower,but still influenced by weather related issues like droughts and freezing temps in typically warm climates.Mitt Romney will be president.The aforementioned are my predictions.If all of it comes to pass,as I believe it will,we will not be in a depression.
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