Fri May 09, 2008 5:17 pm by que13x
Well it goes like this: (quickly)
#1 people are getting thrown out of their houses because they can't pay their mortgage. Existing home owners will see the value of their houses go down from the surplus of empty homes on the market while cities raise taxes in an attempt to provide services. Bush's tax cuts for the wealthy that go into effect in 2009-2010 will only complicate matters more.
#2 The rising cost of gas will cause runaway inflation. Gass will not go down until the dollar goes up in value and that won't happen until at least ALL troops in Iraq come home. Iran is considering trading oil in Euros or Yen instead of dollars because the dollar is so weak right now and has been in decline since at least 2000. Other oil wealthy nations may follow suit.
#3 Businesses will raise prices to compensate for the inflated cost of goods and materials. Businesses will also reduce staff to keep costs down. Unemployment will run into the double digits within weeks maybe months at best as a result. Welcome to the new "Great Depression".
#4 Already food providers are adding water to their products to stretch them out as much as possible to save on cost. This will result in a reduced caloric and nutritional value of what little is left in prepared foods. If you consider the current world food shortage people will literally be starving while essentially eating nothing.
#5 Spikes in crime will occur nationwide as people struggle to find food and provide for families.
#6 Disease outbreaks will occur as malnutritioned and weakened immune systems cope. All it takes is a flu mutation, any flu, for a major pandemic to break out in a large city. FEMA, CDC, and DHS all have exclusive powers that can be applied and enforced in case of such an occurrence. Constitutional rights will not apply for the good of those affected.
Anyone that considers themselves middle class should brace for the storm. Middle class means your household earns less than $150,000 but at least $40,000 per year.
Save as much money as you can, buy canned and dry goods while they are relatively cheap. Learn to live off the land if possible. We are in for a rough 4 years regardless of who is in office.
Unless...
We pull our troops our and bring down the cost of oil. Alternative fuels will not help. The dollar needs to strengthen and for that, the national debt needs to be payed down considerably.
Thanks for reading.
The programmers you will one day be looking to hire are the ones reading the tech news sites right now.
And they will remember...
~George Hotz @ $ony