[With debt spinning wildly out of control and the States threatening to revolt against the tyranny of Washington, we asked some frequent contributors to the Rick’s Picks forum how they thought the nation would look five years from now. In the essay below, Wayne Razzi, aka “Red Will,” predicts that “They” will win – as They always do. However, before any clear winners can emerge, the nation will feel the ravages of the catastrophic debt deflation that “we” have long predicted. RA]
I’m always both happy and humbled whenever Rick extends an offer to me to contribute an essay to Rick’s Picks, given the respect that I have for him and many of his forum’s contributors. On this go ’round I have to state that I remain humbled but I can’t honestly claim to feel happy at the moment! Here’s the reason: Rick asked that I peer deeply into my own crystal ball, which is actually more of a considerably beclouded marble, to attempt to foretell what the world might look like economically in five years. I take solace only in the fact that he didn’t ask for stock market predictions!
Attempting to compress so many thoughts, countless trends, variables and unforeseen elements into a succinct forecast is extremely challenging. I turned to my markets and business partner of many years, an exceedingly bright fellow, and solicited his opinions. A rarity then occurred in that he and [continue reading…]