Extreme Pessimism About Economy $$
Came across this posting on a Linkedin board, and I’m sure there are many more out there similar to it:
“Reality is we’re in a helluva bear market rally. No recovery. Plunging Dow. Skyrocketing gold. Long term unemployment in low to mid double digits. Wealth seeking non-Dollar protection aka Swiss Franc and gold bullion. Real estate nose diving for several more years. Global compensation seeking parity US vs. developing economies, currently 10:1 ratios and more, evening up with US rates of compensation at about half current US values and developing economies climbing 500% to meet us in the middle.
Bankrupt industrial countries, including the US in coming years. Future belongs to economically rising developing countries, especially in the Orient and more specifically China. Wars will be fought over natural resources, especially oil…indeed we are already fighting over that. Currently only half the uranium supplies available to service all of the nuclear plants currently under construction. Standard of living in US will continue to fall dramatically. US economy may follow Japan in 1990s when residential real estate lost 90% former value and commercial real estate lost 99%…not even yet fully recovered. Buckle your belts folks. The ride is just beginning. “
I just want to ask this person, why not just shoot yourself right now and spare yourself all that trouble?
Maybe he’s writing from China, I don’t know. Does China allow access to Linkedin?
And just a quick note about Japan (once again), despite all their economic woes, their average living standards are still higher than those in the U.S. It’s all relative.