In 2012, there will be a global downturn on all fronts, aborting what has been said to be a recovery (but which is not when inflation is factored in).
In Europe, youth unemployment is 45% in Greece and 49% in Spain. The percentage of available US workers who are employed is already at a depression level of 64%.
China will be forced to devalue its currency to flood the West with more cheap goods. This will cause the West to turn its back on globalization and head for isolationism—which is America’s only hope. You have to manufacture in your own country, not just sit back and buy other countries’ goods.
Not only the United States, but Japan has lost its AAA rating—with more to come, including Italy, Spain, and possibly France. The dominoes of Austria, Hungary, Ukraine, and Croatia will follow.
America will be spared for a while, as others consider it a “safe haven.” When that thought wears off look for Wall Street to collapse. More U.S. banks will go bust and be seized by the FDIC. Venerable Kodak will file for Chapter 11 bankruptcy.
A recent study showed that 42 percent of American men raised in the bottom fifth of incomes stay there as adults. That shows a level of persistent disadvantage much higher than in Denmark (25 percent) and Britain (30 percent)—a country famous for its class constraints.
American social mobility is dead and gone. The American dream is dead.
Politics will fracture further, radicalizing liberals and the hard-liners. America’s political system, now paralyzed, will remain so—indefinitely, as its form of government has become out of date—an anachronism—designed for a much smaller country and is over two hundred years out of date.
As proof, the ancient traditions of a creaking American congress have already failed. The parliamentary form of government and Prime Minister that America needs will never arrive—America’s dead constitution is no more than a religious relic—but it is untouchable!
Even Supreme Court Justice Ruth Bader Ginsburg agrees that the U.S. Constitution is a relic. Recently, she was asked: “Would your honor’s advice be to get a part of other countries’ constitutions as a model, or should we develop our own draft?
“You should certainly be aided by all the constitution-writing that has gone on since the end of World War II. I would not look to the U.S. constitution, if I were drafting a constitution in the year 2012. I might look at the constitution of South Africa. That was a deliberate attempt to have a fundamental instrument of government that embraced basic human rights, had an independent judiciary. It really is, I think, a great piece of work that was done.
“Much more recent than the U.S. Constitution is Canada has a Charter of Rights and Freedoms. It dates from 1982. You would almost certainly look at the European Convention on Human Rights. Yes, why not take advantage of what there is elsewhere in the world? I’m a very strong believer in listening and learning from others.”
Germany will abandon the Euro to save itself, as will Greece, both for different reasons. Hungary has re-engineered its constitution to become a fascist state and there is more of that on the way in Europe and in the United States.
The failed states of Iraq, Libya, Egypt, and even South Sudan (with more to come) will make life dangerous for us all—especially with 20,000 surface-to-air missiles missing from Libya. The tinder-box which is the Middle East will burst into flames.
Iraq is already in a civil war between Shiites and Sunnis—a civil war which only Iran can win.
Hillary, the Christian Crusader, who helped engineer Libya into a failed state, is talking to the Egyptian Moslem Brotherhood, because there is no one left in Egypt for her to negotiate with.
This will let slip the dogs of terror as the lack of faith in governments, their corruption, and their financial collapse will spur the rise of America’s militia groups, Italy’s Red Brigades, the Moslem Brotherhood, and a resurgent Al Qaeda, on our march to fascism and anarchy.
In America, militia groups will continue to grow. FBI officials said it fielded nearly 16.5 million queries from firearms sellers in 2011 as Americans went on an apparent gun-buying spree. That was up 15 percent from 2010.
It’s time to protect yourself. Here’s a tip for you: Utah is an increasingly popular place for gun owners from all over the country to get concealed-firearms permits because the state’s permits are cheap, easy to apply for even if buyers do not live in Utah, and recognized in nearly three dozen other states. Load up in Utah.
Welcome to the crash of 2012.