The Great Depression 2.0: American Spectator crystal ball forecasts “the coming crash of 2013”

by Lee on June 14, 2011 10:45 am · 15 comments

Peter Ferrara penned a recent article over at the American Spectator. We think it’s a brilliant analysis of the current and future economic situation. To be completely honest, we think it’s brilliant because it agrees with everything we’ve been saying.

Unfortunately, he foresees an America that’s teetering on the edge of another recession – one that will usher us into an economic death spiral in which our debts overwhelm our ability to continue borrowing:

That is bad enough for a puny, insignificant nation like Greece, where riots increasingly leave the government dysfunctional, with the EU likely to take over the country effectively. But what is the effect when that happens to the world’s supposed superpower? America financed World War II by running up our national debt to its all-time record as a percent of GDP (for now). But that won’t be possible when we have already run ourselves into national bankruptcy.

Our potential military enemies will be quite aware of this historic vulnerability of America. Just as Reagan brought us Peace through Strength, Obamanomics will be inviting War through Weakness. With a 2013 American economic collapse that will also disable the entire West, the world’s uncivilized rogues from Russia, to China, to North Korea, to the Middle East Islamists dreaming of renewed world conquest, will all be tempted probably beyond resistance and reason to strike. They don’t need even to attack the homeland to deal America a decisive defeat. They can just decimate our suddenly overwhelmed allies, from Israel to South Korea to Taiwan to our allies in the Middle East, let alone some even in Europe.

This is one of those unfortunate situations in which we will get absolutely no joy from being able to say, “I told you so.”

Source: American Spectator


{ 15 comments… read them below or add one }

Randome-11 June 14, 2011 at 11:56 am

“the world’s uncivilized rogues from Russia, to China,”

Lol!

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City On a Shining Hill September 25, 2011 at 9:14 pm

“The problem with socialism, i.e., the failed economic system being adopted by so many nations in the world today, is that in funding entitlement programs voters want in their politicians and having governments fund retirement, health care, education, etc, is that the efficiencies this cause and the borrowing by governments at all levels to do so, even printing money (remember Germany in the 1920′s?), is that it destabilizes those nations fiscally, due to running out of the funds which prop it up- taxes.”-

Former prime minister and conservative of a failed socialist nation called Great Britain, Margaret Thatcher.

“Nations fall not necessarily from outside enemy forces, but from within, moral, economic and spiritual corruption and sloth take their toll”-

The Holy Bible

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Rostislav January 17, 2013 at 12:05 pm

Holy Bible? What a pile of crap. No wonder the Useless States is falling apart. They are run by a group of idiots who think an ancient book of myths is true in the historical and scientific sense. HAHAHAHAHAHA !!!! LOL!!!

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Romancaesar February 14, 2013 at 5:54 pm

You atheist scum!! LOL!!!

GOD DOES EXIST!!!

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Blessed41 March 22, 2013 at 6:32 am

Rostislav, if you are calling the HOLY BIBLE a pile of crap, you are crap yourself. Shame on you! and you made satan happy by talking against the word of GOD, where is your FAITH? Romancaesar is right, YOU atheist scum!! HAHAHAHAHAHAHAHAHAHAHAHAHA LOLLOLLOLLOLLOL

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Liam O'Sullivan June 18, 2012 at 6:04 am

I begun reading this article & stopped midway.
I am not Greek nor have any family there but it made me literally pull back from my screen when writer refers to Greece as a
“puny, insignificant nation like Greece”.
YIKES! What arrogant ignorance !!!

What ‘insignificant’ GREECE gave the world:
Countless contributions were made by the ancient Greeks that western civilization benefits from today. These include philosophies (Socrates, Plato, Aristotle), ideas, political systems (DEMOCRACY), the ENGLISH alphabet, irrigation, mathematics codes, the wheel ( do you drive?)
Okay Lee I know you’re not a product of Eton College but, does at least the OLYMPICS ring a bell?

.

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Rostislav October 9, 2012 at 7:00 am

The American Spectator says “the world’s uncivilized rogues from Russia, to China…”. Are they talking about the Useless States of America? I believe the US has been the nation perpetrator running around the world murdering people throughout Central Asia for the past 10-15 years as if they were Genghis Khan reincarnated. I hope the Great Prostitute falls right on her butt. Signed: A U.S. born citizen who has grown to hate this rubbish nation.

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Romancaesar February 14, 2013 at 5:55 pm

THEN LEAVE NOW!!!

DO US ALL A FAVOR AND LEAVE YOU ATHEIST IDIOT!!

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Justice November 5, 2012 at 10:39 am

The global economy’s interdependence provides Greece a seat at the table when it comes to significance. To discount Greece as puny and insignificant is unjustifable and irresponsible journalism. Greece may bring about the downfall of the Euro and the european alliance.

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RGP February 10, 2013 at 9:06 pm

The global economic collapse will be a tragic episode in human history. It’s impact crosses generations. Sad to read the bitter comments that some felt willing to post. Our anger should be directed at the MEGA banks and corrupt govt officials, not common folks nor their religious beliefs. Survival is contingent upon human decency over misplaced blame.

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James McNulty February 14, 2013 at 9:44 am

God Help Us! GOD HELP US! Literally, some form of divine intervention is our only hope! I think of all the unemployed people, the poor and homeless families, children, wandering animals with no home.

Thank you, GANG OF 545 in Washington, DC for DESTROYING AMERICA. THANK YOU WORTHLESS OBAMA, JUSTICES, SENATORS AND CONGRESSMEN. YOU HAVE DESTROYED AMERICA! BUT FOR A DOZEN OR SO, YOU ARE ALL TRAITORS, TRAITORS OF EPIC, MONSTROUS PROPORTION!

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Romancaesar February 14, 2013 at 5:57 pm

OBAMA IS MOST LIKELY THE ANTI-CHRIST OR HIS PRECURSOR……

THOUGH HE SMILES AT THE CAMERAS, HE DOESN’T REVEAL HIS TRUE INTENTIONS.

HE IS NOT TO BE TRUSTED. AMERIKA, BE READY FOR ANYTHING……….AND I MEAN ANYTHING!

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Romancaesar February 14, 2013 at 6:00 pm

THIS COUNTRY IS HEADED FOR ECONOMIC AND FINANCIAL DISASTER!! Very unfortunate……….more spending by Obama will not save the country as it will only plunge the country into a deep economic abyss and depression……….not right now, but eventually.

All you low information voters and idiots who were bound and determined to vote for YOUR SAVIOR OBAMA thank you very much………..!! You have ruined the country by your votes TWO TIMES NOW!!!

Obama has spent more money than all 42 prior Presidents COMBINED!

The country voted for him, and they will get what they deserve!!

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Guffer1984 March 3, 2013 at 5:40 am

It does not matter who sits in the White House. GWB was no better and in many cases worse. This nation is travelling down the road of all nations which is ultimite demise. Unfortunately it is human nature. However, we Americans believe that we can legislate perfection so we pass rules, regulations, standards, codes and laws to a degree that it is impossible to meet all of these. We then implement a perverted legal system that attempts to hold us accountable to all of this. What happens is that we incarcerate a kid for stealing a candy bar and coke for several years and allow wall street bankers to lose trillions and not be accountable. How can any country survive with that model? We have destroyed the economy because coporations need to spend millions to meet the law so they outsource everything they can and eliminate those jobs. The poor saps left here are either funded through entitlement or if not, they can’t afford to compy with the law and get sent to the lock up also on the taxpayers nickel. We need an entire overhaul to get out of this mess. Tht will not happen.

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tomdawg March 19, 2013 at 6:06 am

Don’t worry about the wondering animals with no home…they will be eaten by hungry humans with guns soon after the collapse.

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