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Forum Post: Anyone want to predict state of economy this summer?

Posted 2 years ago on Feb. 26, 2012, 10:49 a.m. EST by Riley2011 (110) from New Britain, CT
This content is user submitted and not an official statement

Gas prices are at $4.00 here in New England and food prices are steadily creeping.
Everything is based on whether or not this situation with Iran explodes... Foreclosures are pretty steady in this part of the country and while we are busy borrowing trillions, the stock market is up. Any predictions?

11 Comments

11 Comments


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[-] 3 points by GypsyKing (9780) 2 years ago

I believe it will be in any condition that those who control the banks, the money supply, the price of oil, and virtually everything else in this country want it to be in.

[-] 1 points by ShubeLMorgan2 (1088) from New York, NY 2 years ago

It's not that simple. No one can sit at a desk and determine which way events involving 7 billion people, all sorts of variables will go, though the PTB work to steer things their way.

[-] 3 points by GypsyKing (9780) 2 years ago

They will try their best, but I actually agree with you. I was putting forth this proposition to see if anyone was awake. The degree to which they can control events is peripherally affected by random chance, and directly affected by the degree to whcih we are willing to allow them to continue their attempts to control events.

I'm glad to see that Shube at least is still awake:)

[-] 2 points by newman (-58) 2 years ago

If you ask the Obama Admin then they will tell you everything is just rosy and looking up but what do you expect from an idiot that cannot do a speech without a teleprompter. Even when he is giving a speech to grade school kids, he needs a teleprompter

[-] 2 points by alexrai (851) 2 years ago

lol, I don't think he's actually allowed to say anything that hasn't been written for him by his higher ups, and vetted by 10 different departments. :p

[-] 1 points by alexrai (851) 2 years ago

I think the situation with Iran will be exploding soon enough, how is the defense industry supposed to make a buck when there isn't a war going on? I mean, they're busy selling military weapons to civilian police forces... but other than that expanding market there isn't much on the profit horizon unless body parts start flying in Iran.

My prediction is that somewhere between June 2012, and December 2012 the bottom finally falls out and people start rioting. There is only so long the fed can continue to print money without consequences, and they are already starting to show up.

You're right about the Iran situation too, Greece (completely dependent on Iranian oil because no one else will give it credit) will default as soon as Iran is attacked bringing Europe's banks with it, and then the US Economy is going to hit the crapper (worse than now) and the government will be lucky if it doesn't go bankrupt in the process.

[-] 1 points by Riley2011 (110) from New Britain, CT 2 years ago

Alexrai- I am completely with you folks as far as the Greece situation is concerned as well as the European banks... I am noticing a very strange thing...the American news has become more Hollywood based, less news based and pretty much unprofessional as of late. There is limited coverage outside of our borders, with Syria taking the lead spot on the news and very little financial information. Meanwhile, the financial news out of Europe is limited. I almost feel as if we are on a pod at this moment in time....

[-] 1 points by rayl (1007) 2 years ago

one would think conservative investors would try to make things worse while investors that support obama would try to bolster growth. but which group will get the upper hand is beyond me.

[-] 1 points by Riley2011 (110) from New Britain, CT 2 years ago

I think that everyone is trying to ride the 13,000 Dow Jones..... What it is riding on is beyond me...maybe the false job reports?

[-] 1 points by ShubeLMorgan2 (1088) from New York, NY 2 years ago

Also there are uncertainties around the European debt crisis. The pols hope things will hold together at least till after the elections in France, Germany and the US.