Med Jones, who predicted the 2008 crisis, predicts another in 2015

[ProfessionalLeftist]

"In the longer term (3-5 years): We will experience another economic crisis that will affect the economies with high debt to GDP ratios such as USA, Italy and Japan. The exact timing, the depth, and the speed of the economic decline and recovery depend on government intervention policies, but there is not much more room remaining. The hole they dug themselves into is already deep. Global market forces are stronger than they think. At best they can delay the crisis but they have to pay an even higher price later. How will they pay it? This is subject to the politicians’ decision: Either sharp/quick decline and quick recovery; or soft/slow decline and slow recovery that could take decades. Someone has to pay for the debt, the Americans or the foreign investors or both."

MORE... (scroll down to about halfway down the page to see this prediction):

http://www.economicpredictions.org/med-jones-predictions/index.htm

Who is Med Jones?

"Med Jones is the president of International Institute of Management (IIM) – A US based research and education organization. Jones is recognized as one of the few experts who predicted the US financial crisis. In his seminal research paper, US Economic Risks and Strategies 2007-2017, he warned about the housing bubble, the subprime mortgages and the rising national debt. In Jan 2007 he challenged the US President’s State of the Union Address, the Federal Reserve Chairman and the popular opinion of mainstream economists. In a Reuters interview (March of 2007) he warned about the loss of confidence in the US economy as a result of financial market bankruptcies caused by subprime mortgages. In several other interviews, he warned about the US financial crisis of 2008 followed by global socioeconomic challenges driven by sovereign debt, inflation and currency crises. His statements and predictions are followed by investment advisors and researchers around the world. Jones provides strategy consulting and education to governments and the global Fortune 1000 companies."

(one other expert predicted the US financial crisis in 2008 - Brooksley Born)

[FreakinDJ]

1. So we should lower Corp Taxes and supress Working Class wages - right

to many of the Economic Doom and Gloomers are merely making arguments to forward GOP tax policy

[ProfessionalLeftist]

2. Did Med Jones recommend that somewhere? n/t

[FreakinDJ]

3. When they fail to mention the US Corp Tax policies being

a major contributing factor of the economic mess we are in (sorry) - I immediately begin to believe they are complicit to the Wall St take over of our political system.

Personally - I'm starting to think Reagan triggered a Tariff Battle in reverse. Countries endlessly lowering their corporate tax rate in Trade competition



But Hell - anyone at DU can tell you I'm just crazy

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=114x88802

[ProfessionalLeftist]

4. Did he mention any contributing factors specifically or...

...was he just making predictions? I don't know anything about him or his organization - he just seemed like an economic wonk that makes allegedly accurate predictions - and I saw 2015 there as the next 'crisis'.

I agree that corprat welfare (ie: tax policy) is a major contributor. I just posted about the wingnut assertion that only half the people in the US pay taxes. If there's any truth to that at all, I think the half that doesn't pay any taxes are those corporations we call "people". ;)