http://www.youtube.com/watch?v=qtYnk7Pnnpc

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The Greater Depression and What You Should Do About It
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Doug Casey
The International Speculator
Jun 26, 2008

For international investment expert Doug Casey, there's more than a recession on the horizon, he recommends battening down now for the rough seas ahead... with some special information about making sure your investments can weather the coming storms

I believe in the existence of the business cycle. That's partly because almost everything in life is cyclical, which has been recognized at least since the tale about Joseph and the seven fat years and seven lean years. The Austrian school of economic thinking explains why the business cycle keeps coming around and does so without relying on a soothsayer to interpret your dreams. I urge you to read the appropriate chapters in either Crisis Investing for the Rest of the 90's or Strategic Investing for a full explanation. But, in a nutshell, government intervention in the economy - through taxes, regulation and, most importantly, currency inflation - causes distortions and misallocations of capital that must eventually be unwound. The distortions degrade the general standard of living, and the economy goes into a recession (call that an incomplete cleansing).
Or it goes into a depression - wherein the entire sickly structure comes unglued

The last real depression took place in the 1930s. The economy very nearly went over the edge again in the early '70s and again in the early '80s. Both times massive re-inflation of the currency papered the problems over (but at a cost). Meanwhile, most importantly, continuing technological innovation and increased savings (motivated by the fear of bad times) led to recovery.
Since then we've had 25 years of what Herman Kahn predicted would be "The Long Boom"

Unfortunately, much, much more severe taxes, regulations, and inflation have caused much, much more severe distortions in the economy - especially over the last 15 years. And the boom was financed largely by debt, which made everybody feel and act much wealthier than they really were. It's as though you borrowed a million dollars and spent it all on wine, song and high living. For a while, you'd have a high standard of living and perhaps have a lot of fun. But eventually, when you either paid the money back with interest or were forced into bankruptcy, your standard of living would take a painful drop. The U.S.
, in particular, has been living far above its means, burning up its own capital and trillions more borrowed from abroad


http://english.pravda.ru/world/americas/19-05-2008/105255-famine-0
http://www.youtube.com/watch?v=ZseIj2MSajU


Who Will Suffer Least from a US Depression?
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Asia Sentinel
John Browne
01 September 2008

Though few may have noticed, the past few weeks may be regarded as a global economic turning point. Evidence is mounting that the United States is entering a recession, with increasing signs that it could morph into a depression. While the current US administration appears resigned to bailing out or nationalizing large tracts of American commerce, the presidential candidates have been drifting towards the Great Society era spending proposals of Lyndon Johnson, US president in the 1960s.
At the same time, America's principal economic rivals appear to be charting courses that are not in line with US interests

The Russian invasion of Georgia has revived tensions that have not been seen since the most frigid periods of the Cold War. With the Olympic Games over, China can relax and now exert its economic muscle without risking any politically-motivated boycotts. Between them, these global players hold well over a trillion dollars, or 10 percent of U.S. government debt, which they can use as leverage in any strategic, economic or political confrontation with the US. There is also evidence that America's economic power is even waning in its own back yard.
This week, Honduras, a traditional US ally in Central America, announced that it was throwing its lot in with a Latin American trade bloc dominated by Venezuela and Cuba

Read The Rest HERE

http://www.asiasentinel.com/index.php ... sk=view&id=1410&Itemid=32