whoever this person is, I hope they got their money out in time
http://www.kuro5hin.org/story/2005/5/21/54452/0829
Here's my predictions (3.00 / 8) (#6)
by Betcour on Sat May 21, 2005 at 08:25:17 AM EST
The real estate bubble will end up bursting (as every bubble eventually does), as interest rate rise and as people realize that no crappy 3 bedroom house is worth $1.5 million. All those who bought with variable rates loans or interest-only loans will rush to get rid of their depreciating property, only to increase the speed with which prices will crash.
This will create a lot of bankrupty and bad loans, which in turn will create a major economic recession. The dollar value will fall further, China and Japan will prove unable to stop it and US interest rates as well as inflation will go thru the roof.
At this point the oil producers will likely switch to Euros for trade. Used SUVs will be plentyful and cheap. The US will wake up with low purchasing power and no industrial base left to get back on its feet (it has all been moved to China already). Its world influence will be vastly reduced as it is unable to pay its expensive army by borrowing anymore money.
Here's my predictions (3.00 / 8) (#6)
by Betcour on Sat May 21, 2005 at 08:25:17 AM EST
The real estate bubble will end up bursting (as every bubble eventually does), as interest rate rise and as people realize that no crappy 3 bedroom house is worth $1.5 million. All those who bought with variable rates loans or interest-only loans will rush to get rid of their depreciating property, only to increase the speed with which prices will crash.
This will create a lot of bankrupty and bad loans, which in turn will create a major economic recession. The dollar value will fall further, China and Japan will prove unable to stop it and US interest rates as well as inflation will go thru the roof.
At this point the oil producers will likely switch to Euros for trade. Used SUVs will be plentyful and cheap. The US will wake up with low purchasing power and no industrial base left to get back on its feet (it has all been moved to China already). Its world influence will be vastly reduced as it is unable to pay its expensive army by borrowing anymore money.