The tragedy is that this meltdown is likely to continue for many years. Harry Dent, an economist and forecaster, warns that if we thought 2008 was scary, it was just the beginning. He reckons that 2010 to 2012 will see the worst economic and banking crisis since the 1930s. Real estate will also collapse.
Basing his forecasts on economic trends, and history, Dent says there may be a recovery in the second half of 2009, but it will be short-lived and will fall apart because of inflationary pressures, interest rates and a commodity bubble.
That's when the worst of the depression will hit, continuing on and off until mid-to-late 2012. Where would be a safe place for money? Dent says cash, money markets and, on a lag, the highest quality government and corporate bonds. There will be a rally, probably from mid 2012 to mid 2017 and then a less severe downturn until about 2020, or possibly 2023.
As if that's not bad enough, he warns of the next dramatic terrorist attack or seismic geopolitical event between late 2009 and mid-2010, perhaps brought on by oil prices that he warns are likely to go to above $US180 if there is a significant recovery in 2009 coming from all the stimulus packages being introduced around the world. The next boom will happen from 2023 to 2036, if we live that long.
http://www.smh.com.au/news/executive-style/management/were-all-doomed--again/2009/02/26/1235842307666.html
