America’s Financial Future Projection

Detective Krum

Some report the “recession” is almost over while others say the pattern today is similar to the 1929/1930 Great Depression.  Those supporting the latter scenario say in 1929 the stock market rallied for 6 months after the first fall.  They claim the rally lasted about six months and then the stock market free fell.  What scenario will play out now? Only God knows for sure but I looked at various reports and here are clips.

Government reports now point to fiscal doomsday for America; and one of the reports, issued by the Congressional Budget Office (CBO), says so explicitly:

• The CBO paints two future scenarios for the U.S. budget deficit and the national debt. But it plainly declares that fiscal disaster will strike in EITHER scenario. Furthermore …

• The CBO states that its fiscal disaster scenarios could cause severe economic declines for decades to come, including hyperinflation and destruction of retirement savings.

• The CBO then proceeds to admit that even its worse-case scenario could be understated by a wide margin due to panic in the financial markets or vicious cycles that are beyond control.

See the complete report here. If the link doesn’t work for you then go here. The links show the financial and budget outlooks for America for Fiscal Years 2009 – 2019.  How’s that hope and change working for you now? Retirement accounts were a pad for baby-boomers because social security would not be there for baby-boomers. This report reflects the years baby-boomers saved for retirement in retirement accounts will be wiped out.

The Federal Reserve released the Flow of Funds Report in a pdf file format. You can view the entire report here. This report reflects credit will be cut off to business and consumers. One must ask, what was the purpose of the bank bailouts if it was not for liquidity.