Massive Wealth Destruction

[Positivist]

Apparently several well respected economists are forecasting another recession soon which's effects would be felt much deeper, and could potentially result in the dramatic reduction of wealth ownership within the United States.

http://www.moneynews.com/StreetTalk/Massive-wealth-destruction-economy/2012/07/24/id/446424

Though respected, the economists mentioned are notorious for making doomsday predictions, and while my adobe didn't permit me to view the comprehensive forecast in the video, but from what I gather from the article they seem to be basing their analyses on monetarist economics and the solutions they propose inappropriately approach avoidance of the conflict from a individual consumptive perspective.

Thoughts?

[Workers-Control-Over-Prod]

The thing is, that now economists from all political perspectives are predicting a crisis. When comrades like Ghost Bebel write "there is no evidence for a crisis" that is really a testament to ignorance to even bourgeois public economists among the left, not to mention Marxian economics. "No kind of bank legislation can eliminate a crisis." Karl Marx.

[The Jay]

QE3 in the USA is meant to cause another housing bubble, which will lead to another indirect subsidy to the bourgeoisie, which will lead to more wealth accumulation by them. So, yeah, there's going to be another wealth drain. Prepare for people to invest in and borrow against their homes and for that wealth to be usurped. When that happens, we may have tenements and slumlords again, or maybe not. I'm no magician but I have reasons to think what I do.

[Lynx]

This article is hilarious. We are at risk for a double dip but not for the reasons stated (ie. the public debt hysteria). There is also the chance that another bubble will be started.

[Positivist]

This article is hilarious. We are at risk for a double dip but not for the reasons stated (ie. the public debt hysteria). There is also the chance that another bubble will be started.

Those were my thoughts.

[x-punk]

This is just the usual sensationalist stuff from the usual suspects - Schiff, Faber etc. The whole article has a whiff of right wing political bias as well. No surprise there.

The way i see it we could be looking at a slow grind down over decades as the debt gets addressed. Growth will stagnate as people pay down debt and horde money away. Economic activity will be stagnant and unemployment will continue to rise unless the govt starts looking at ways to get money flowing through the economy which it doesnt look like they are interested in doing. But as for a crises situation. I am inclined to think this is unlikely.

[Prof. Oblivion]

QE3 in the USA is meant to cause another housing bubble

No it isn't. The last thing the Fed would ever want to do is knowingly create a bubble.


which will lead to another indirect subsidy to the bourgeoisie, which will lead to more wealth accumulation by them.

This is absurd, conspiratorialist nonsense.