Political Forum » Make your economic predictions for the 2010s

I think this upcoming decade is going to be a period in America's history most comparable to the Great Depression of the 1930s. I'm not predicting bread lines and people selling apples for $0.10 on wooden street carts, but I am predicting a major contrast to the debt and spending driven boom period we have experienced over the past few decades. The 2010s will be a decade of saving money and working hard.

Gotta be the gloom and doomsayer: I think Obama his handlers, and the people surrounding him are totally evil, ruthless and immoral, and will stop at nothing to achieve their goals...Since a Global socialist Govt even with all the world's resources cannot sustain the feeding, and medical care of the existing population, and in order for such Government to work and the ruling Elite maintain their lifestyle the world population must be reduced by 40%. The little things that have been going on such as every National burial ground in the U.S is expanding. The Swine flu that broke out months before normal flu season, that was almost hyped into a national emergency, makes me think the economy is going to be worse than the great depression. In the depression a little money if one had any would buy a great deal, in this case a train load of money will buy very little.

With the price of oil going back up AGAIN it seems we can't avoid another crash in the stock market! Hopefully not as bad as last years crash

I agree, I think rising oil prices will be what triggers the next major downturn. I think the next major downturn will be worse when comparing the Dow to Gold ratios.

At some point within the next decade, most likely the first half of the decade, I predict the dollar will be significantly devalued especially with regard to imports. In other words, things we import will become much more expensive. Gasoline will definitely go above $5 per gallon at some point before 2015.

I also think products we produce domestically that we can export will become more expensive.

I also think products and services we produce domestically which can not be exported such as pedicures, hair salons, and going out to dinner will become much cheaper relative to imports. For example the price of a haircut may stay roughly the same while the price of a car may go up 50%. One exception to this would be healthcare because, even though it is a domestic service than can't be exported, the large surge of baby boomers will likely drive costs healthcare up.

At some point around 2015, perhaps a bit sooner or a bit later I think unemployment will be the last thing on people's mind. Americans will be working like crazy because there will be two major changes in the demand for domestic labor. One major change in demand will be to care for the growing number of baby boomers who will need increased care. The other major demand for domestic labor will be to produce what we consume domestically because the rest of the world is not going to produce things for us like they used to because they will not be interested in our devalued dollar.

Hopefully by the end of the decade we will start to see light at the end of the tunnel. Maybe by 2020 we will be able to at least see a clear path towards a balanced budget, a trade surplus, reducing our debt, and energy independence.