Topic: idiosyncratic egotism
On October 8, 2000, a month before George W. Bush was elected President, I predicted the current economic situation--in which nearly every expert and commentator sees a serious crash coming. And I predicted this would happen regardless of who was elected President, because the underlying cause of the problem is spiritual, not political. See my web page A Warning Against Idolatry, first posted October 8, 2000 (for those who doubt this date, I can prove I registered my copyright in the original text of the warning on September 4, 2001, and I will gladly send doubters a copy of that copyright registration).
The economy has been slowly sliding downhill ever since. But now all commentators see a dramatic crash coming.
I am now ready to predict the most likely range of dates for the big crash. It will come sometime between election day in November and the first of the year. Making this prediction does not require prophetic ability or a crystal ball. Our political leaders are rapidly running out of flexibility. The methods they have used to keep oil prices down, business moving and credit available, simultaneously, have very little life left in them. Nevertheless, our leaders will undoubtedly make their very best effort to maintain the public appearance of business as usual until election day. They do not want to suffer the anti-incumbent backlash that would result from a meltdown before the election.
But they know they can't hold on much longer. So shortly after the election--possibly as soon as the day after the election--we can expect to see gasoline prices shoot up to well over $5 per gallon. That will be the announcement that the whole financial system is about to unravel in short order.
Yes, I could be wrong bout these dates. Our politicians may not be able to hold back the crash until the election, or they may be able to hold it back a little past January 1. But it is clearly coming soon.
Are we ready to be reposessed by our foreign creditors? We had better be.
The only hope is exactly what it has been since I first wrote about this matter in October 2000--a revival in the Church in America. Unfortunately, it may take panic, impoverishment and enslavement to foreigners to bring it about.