Is the Next Wave of the Financial Crisis Coming? Was Milton Friedman Right?
Posted by on Friday, May 20th, 2011 8 Comments Click Here to Comment!
Bryan Rich of World Currency Trader shares his take on the next wave of the financial crisis. Will it be a Tsunami or a ripple? Is it coming from Europe or Asia?
Watch to find out… http://www.moneyandmarkets.com/video?946232717001
Tony,
It’s impossible to wake up people I know. I have given them your warnings and messages and nothing works. I’m told they will worry about it when it comes.
I just don’t get it.
I have decided never to talk about this issue. I’m with peace now.
And question is what do know? I live in Slovakia small European country how average job in it, what should people like me do?
Hi Tony
What a great question!
I’m sure you remember your old friend Robert Prechter whom you’d interviewed twice already in 1992 and then in 2002.
I think it’s time for another Power Talk with the master of social prediction which will give you THE answer!
Thanks Plamen
[O]f all the aspects of social misery nothing is so heartbreaking as unemployment. ~Jane Addams, 1910
I attended Life/Wealth Mastery in Ft. Lauderdale 06/11. Am
now a graduate of Mastery University-Divine Intervention. I also volunteer as medical crew for DWD/UPW events.
I am extremely grateful for my exposure to this “world” for a multitude of reasons. I was greatly impacted by Michael Smorch and his presentation and lunch. I am trying to educate/prepare myself/loved ones in every way possible for the future. I work FT as a Nurse Practitioner
and have limited exposure to this information. I am search
ing for the most efficient way to formulate a plan to be
able to re-locate outside the U.S. & have clean water/food available. I have LivingTowers hydroponics. What water filtration system did the AR foundation use in Africa trip? Any guidance with this whole process would be much appreciated. Thank you for EVERYTHING!!! MJ
Hi Tony,
I work with businesses in the uk and the question of the euro will continue until it resolves itself. The politicians, one feels are too tied to the European project to look at the issues pragmatically. Too many different countries at different stages in the economic cycle.
If we continue to put cash into the market there will be troubles ahead. I believe there will be another crash after baby boomers retire next year and 5 years later at age 70 when they are forced to take their money out of retirement which is required by law because the government wants their tax money that was deferred in their IRA’s and other retirement accounts.
It’s been almost a year since this dire prediction for 2012. Last week more Euros were bought, and put into circulation by a member country.
No doubt, European nationalism is reason for great concern for a number of reasons. The greatest generation of Americans are in their 80s now, and are a testament to how far this friction can go. So, it is reasonable to be concerned about Europe. But, and while Milton Freedman is brilliant, economic predictions remain an art, not a science. In this case, it is quite possible there is another explanation for our current environment, and cause for calm. The sky might just not be falling.
While working in Mid-town Manhattan during the 1980s, the national debt calculator was a prominent fixture. It provided a real time counter of the astronomical debt which was portrayed as being so out of control, it would bankrupt the country for generations, and out grand-children would be ultimately stuck with the bill. So, what happened? The economy started to grow, and the debt was paid off in the 8 years of Bill Clinton’s term.
Europe will be fine, and so will the US. Structurally, our country is not only healthy, but poised for great things. Compared to the global environment witnessed by the greatest generation, we have it easy.
So, where does all today’s economic trouble stem from? That’s easy, but nobody talks about it anymore. The answer? Y2K. Remember? Nobel prize winner predicting mass, global computer failures, failures of the banking system, nukes being launched, planes falling from the sky. Yes, they predicted that they sky was really gonna fall. What happened? Nothing, a big dud. But, the damage was done, and so much money was thrown into the system that it was not possible to contain it. The market crash started in March 200- (end of Q1), but that was paper loss. Cash found it’s way into housing, now commodities, etc…it is a ripple effect. But, it is only an echo and normal dynamics will slowly return.
Our economy is fine, and the globalization of markets will make things stronger, even with growing pains. Thanks to the greatest generation, Europe will be fine, too. The sky is not falling.