The next two years: Can Liberty survive?Submitted by staobrof on Wed, 11/07/2012 - 05:42
Here's whats going to happen over the next two years:
- Now to 2013:
- There will be a massive stock market selloff as investers pull
their money out before Capital Gains taxes go up in January.
- In January 2013:
- EVERYONE's income taxes go up.
- Defense spending goes down. (Normally, I'd cheer spending
cuts, but this dramatic cut will be a shock to the economy.)
- The first of the "Obamacare" taxes go into effect.
- Payroll tax cuts expire and Medicare tax increases 0.9% due
- Fed continues to print money for QE3, devaluing the dollar.
- By March, the economy is in recession again. Unemployment is rising rapidly. Stock market continues its decline.
- Over the next 9 months:
- Foreclosures will rise.
- Small businesses will fail.
- Prices will increase. (Especially for food and gas.)
- Bank failures.
- Unemployment tops 10%.
- Stock Market has ups and downs, but continues to trend down.
- January 2014:
- The big "Obamacare" taxes take effect.
- Fine for having inadequate insurance on individuals and
- Fine on businesses that don't provide employee's with
- and more...
- Some businesses lay off employees due to the fines, others fail.
- Health insurance companies, who's profits are capped by law
(Obamacare), will start to fail. The government will sieze
control of them, also a provision in Obamacare.
I predict, that by the midterm elections in 2014:
- Unemploymeny will be above 12%, probably closer to 15%.
- Stock market DJIA will be under 10,000.
- Banks and health insurance companies will be failing.
- Gas will be $6.00+ a gallon, national average. Some places will be
as high as $9.00 a gallon.
- Food prices will be up.
- The deficit will be at least 2 trillion.
- The national debt will be approaching 20 trillion.
The Democrats campaign strategy for 2014 is going to be, "Capitalism is failing, we need the government to take a more active roll in the economy to stablize it."
Mark my words, this is where the country is going and this is where Obana wants to go. I just pray the country doesn't fall for it.
"Freedom is never more than one generation away from extinction."