Well, we haven’t even begun to reach the depression stage, even though I view it as we are in one. I prefer to be optimistic regarding the current state of affairs, but there is very little that gives me a glimmer of hope to hold on to. The previous administrations and the current one have allowed jobs to go offshore, let cheap illegal labor take a significant share of jobs; we really don’t manufacture much of anything more, the transnational companies choose to to move off shore to pollute and hide their profits in lax regions of the world.
Most of the banks are zombies, the fed is monetizing the debt from what I figure with money that is sent other central banks to buy our debt. I personally think that in a year or two the Fed and Treasury and GS will no longer be able to hold the charade, or Ponzi Scheme from the American public any longer than we will be Weimerized. The Great Depression will look like a walk in the park.
My prognostication is recession/depression far longer than I care to even think about.
Our currency will become worthless, as it is becoming every day, so it’s best you get as much gold and silver as possible, otherwise the people that created the mess will.
We are broke to the tune of trillions of dollars,as planned.