2010 Predictions: U.S. Economy
These predictions were originally posted on my website www.williamstickevers.com between April 3 and May 26, 2009.
- Great Depression II: The current U.S. recession will turn into a second Great Depression by December 2010. (April 3, 2009)
NOTE: The U.S. economy entered a recession in December 2007, according to a committee of economists at the private National Bureau of Economic Research. David Owen, an economist at Dresdner Kleinwort, suggested a recession turns into a depression if it lasts more than three years. Most Western recessions last only a single year. Some last two years. Only one has lasted longer that wasn’t the result of war. They rarely last longer than that and only one — the Great Depression — was not the result of a war. (April 3, 2009)
- America’s Retirement Crisis – 401Ks Become 101Ks: The collapse of most Babyboomer’s (born 1946-1970) nest eggs due to the economic meltdown that began in 2008 will cause a fundamental restructuring of the investment advisory industry in 2010. (April 23, 2009)
- Economic uncertainty will dramatically increase in the United States as China will begin to dump and hold US dollars at various increments without wiping out their own savings. (May 26, 2009)