A Week with Richebächer in Cannes

[amberdisc]

I think this article by Jim Willie on interviewing Richebächer is an especially good overview of the economic crisis coming. It's long but scroll through to pick out subtitles which interest you. Richebächer predicts a U.S. economic collapse in 12 months (maybe stretched to 18 months).
:-(

Link

[rapier]

1. notes

Richebächer and Puplava are probably politically incorrect for this board. They also have something to sell, themselves. None of which is to damn them but just to forwarn. Both can offer economic opinions totally outside the box as presented, universally, by the usual suspects.

I have a little overview of Richebächer here, post #11

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=114&topic_id=1231

Both are worth study. Macro economics is as well. The almost universal pride of Progressives in their lack of knowlege of monetary and macroeconomic issues is a disaster on many levels. Leaving the 'conservatives' alone and unchallenged on the rhetorical playing field. In fact unchallenged on the policy field as well. Clinton after all begat Rubin who begat much of the current system, which I call the Wall Street system and which is to me a disaster.

Or rather it might be a disaster. I allow the possibility of a collapse of historic proportion. Not the probability mind you, just the possibility. Hopefully we will muddle thru.

My economic bearishness borders on the crackpot I fear. I hope so. Expanding on my crackpot ideas is the one that a depression will lead not to a liberal renewal like FDR's but rather the cementing of todays conservatism into our own form of facism. All the mechanisms are in place.

[mhr]

3. Hi Rapier

I tend to agree with your long-term perspective. As wealth is further consolidated in this country, and the middle and lower classes take on more debt, we reach a point were, in effect, we have economic serfdom.

The wealthy control the levers of political and economic power and the lower classes are slaves to a system controlled by the wealthy. As a result we get de facto fascism.

Without some exogenous stimulus I don't see a change soon. Even the forecast economic decline will not change the outlined dynamic substantially.

All around, a bad situation.

[rapier]

2. link

http://www.prudentbear.com/archive_comm_article.asp?category=Guest+Commentary&content_idx=26412

Short simple overview of his main arugements.