A Greater Depression is coming
By Thomas H. Kee Jr.
MarketWatch.com
Amazing as it sounds, the degree of uncertainty has actually increased on the heels of last week’s rebound, and the debates running through the Streets, from “Occupy Wall Street” to “My Big Fat Greek Default,” have investors at odds with each other. Quelling such emotional behavior takes time, but the emotions that run high at the tail end of market drubbings are almost always the same. We have all probably read the Book, “The Tipping Point,” and the Market seems to be at a trough – based emotional tipping point right now. Everyone wants answers, but no one is getting the answers they are looking for, at least not yet, and therefore volatility and debate run rabid through the Streets. In every respect, my reference to The Street is to Wall Street, and to Pennsylvania Avenue. Unfortunately, I find these joined at the hip in the debate that has now gone viral.
“Occupy Wall Street” is something that will grow, and in the years to come I expect this to be a very serious campaign. Now is not the time, but eventually this campaign might become the face of the Greater Depression I have warned about. The U.S. economy, and probably the global economy, as a result are headed towards a Greater Depression, and there is nothing anyone can do to stop it now, as far as I can see. This is inevitable based on simple demographics, and the only saving grace may be China, but China seems to have gotten so far ahead of itself that eventually it too will fall.
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