Is the Great Depression 2.0 on the way and could it last until 2032?
The Return of the Great Depression explains why the author, Vox Day, believes that the economic downturn happening in the United States will get worse before it gets better.
Seven years ago, Day predicted the collapse of the housing market and the destruction of the financial services industry. Now, in Return of the Great Depression, he offers detailed analysis of the economic and monetary policies of the last several years to show why ideologues on both the left and the right didn't foresee what was coming.
Return of the Great Depression provides vital insights, including a prediction that it could be 2032 before the economy fully recovers. He bases this on:
- The ominous similarities between the American economy of today and the Japanese economy of 20 years ago.
- How Obama's stimulus plans are likely to be just as ineffective as those of President Herbert Hoover.
- How both Milton Friedman and John Maynard Keyes got economics wrong.
Vox Day maintains that policies being pursued in Europe, Asia and the United States are doomed to failure. He writes that these policies are flawed and account for why most economists were unable to anticipate the recession or see that their expectations of an imminent recovery are incorrect. Therefore, he predicts that the world is in the early stages of a massive economic contraction.
The conclusion is that the most probable scenario is a Great Depression 2.0 is on the way and that it will be larger in scale and scope than that of the 1930's.
About the author
Vox Day graduated from Bucknell University with degrees in Economics and Asian Studies in 1990. He is a member of the Science Fiction and Fantasy Writers Association, the International Game Developers Association and Mensa.
Day, Vox. The Return of the Great Depression. WND Books, 2009
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Comments
Our government and government created central bank created this crisis to begin with (of course they blame the market). Their solutions are causing this to be long and drawn out. Prepare for the worst, hope for the best. So long as we keep putting left and right economic keynesians in office, we will continue to go in a downward spiral.
Study the depression of 1920-21 everyone. It could have been different....I think its too late now but perhaps there is hope this election to make some real change...not likely...
“The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.” F.A. Hayek
We have been approaching this point for a hundred years. The fisrt depression was a trial run, but the mechanisms for recovery established under Capitalism (industrial infrastructure, thrift and a diverse and innovative populace)foiled the Collectivist attempt to restore their Neo-Feudal utopia. Now we are much more vulnerable. Those who will survive this period are the ones with weapons, water and an independent food supply.
Another depression? Well, it's what Progressives do best.
Vox Day, AKA Theo Beale, also advocated the use of gas vans to execute illegal immigrants.
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