Fortune;8 really, really scary predictions- Must Read

[edhopper]

http://money.cnn.com/galleries/2008/fortune/0812/gallery.market_gurus.fortune/index.html

[graywarrior]

1. Yikes

:scared:

I can't even imagine what this will cause...riots?

[akwapez]

2. I just finished reading that and came to see if it was already posted

Many if the predictions are not as dire as the tagline suggests. But, it doesn't sound pretty.

[GliderGuider]

3. Eight uber-doomer economists who still don't understand how bad things really are

I read their capsule comments. As far as I can tell, not one of them understands the true nature of our predicament.

It's the old story -- when the only tool you have is a hammer, every problem looks like a nail. These are eight financial gurus who -- despite their awareness of our financial problems -- have no clue what's going on outside their domain. As a result, they are going to be as surprised as Joe Sixpack when the world falls on them.

Here's a link to my take on what's actually going on: The New Normal.

The executive summary is that this isn't simply a financial crisis. The economy is just one of three crisis elements that are converging on us at the same time. The other two are energy shortfalls (aka Peak Oil) and ecological problems which will manifest as food shortages. These three storm fronts (energy, ecology and economics) are all interconnected and amplify each other. Trying to fix one may make the others worse.

Focusing on any one of these three converging crises in isolation will do no good at all.

[akwapez]

4. Agreed. We have many crises peaking in a relatively short period of time

Most of the high profile analysts simply either don't get it or don't want to say it. And until we are all saying it, there is not going to be an effective solution. We ARE entering a depression and it comes at one of the worst possible times.