{"id":1391,"date":"2014-11-10T18:29:34","date_gmt":"2014-11-10T23:29:34","guid":{"rendered":"http:\/\/olduvai.ca\/?p=1391"},"modified":"2014-11-10T18:29:34","modified_gmt":"2014-11-10T23:29:34","slug":"if-everything-is-just-fine-why-are-so-many-really-smart-people-forecasting-economic-disaster","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=1391","title":{"rendered":"If Everything Is Just Fine, Why Are So Many Really Smart People Forecasting Economic Disaster?"},"content":{"rendered":"<p><a href=\"http:\/\/theeconomiccollapseblog.com\/archives\/if-everything-is-just-fine-why-are-so-many-really-smart-people-forecasting-economic-disaster\">If Everything Is Just Fine, Why Are So Many Really Smart People Forecasting Economic Disaster?<\/a>.<\/p>\n<p style=\"display: block; padding: 0px; margin: 1em 0px 1em 0px;\">The parallels between the false prosperity of 2007 and the false prosperity of 2014 are rather striking.\u00a0 If we go back and look at the numbers in the fall of 2007, we find that the Dow set an all-time high in October, margin debt on Wall Street had spiked to record levels, the unemployment rate was below 5 percent and Americans were getting ready to spend a record amount of money that Christmas season.\u00a0 But then the very next year the worst economic crisis since the Great Depression shook the entire planet and everyone wondered why most people never saw it coming.\u00a0 Well, now a similar pattern is unfolding right before our eyes.\u00a0 The Dow and the S&amp;P 500 both hit\u00a0<a style=\"color: #4f809e; font-weight: bold; text-decoration: none;\" title=\"record highs\" href=\"http:\/\/www.usatoday.com\/story\/money\/markets\/2014\/11\/10\/stocks-monday\/18786913\/\" target=\"_blank\">record highs<\/a>\u00a0on Monday, margin debt on Wall Street is hovering near record levels, the unemployment rate has ticked down a little bit and Americans are getting ready to spend\u00a0<a style=\"color: #4f809e; font-weight: bold; text-decoration: none;\" title=\"more than 600 billion dollars\" href=\"http:\/\/theeconomiccollapseblog.com\/archives\/guess-how-much-americans-plan-to-spend-on-christmas-and-halloween-this-year\">more than 600 billion dollars<\/a>\u00a0this Christmas season.\u00a0 The truth is that the economy seems pretty stable for the moment, and most people\u00a0<a style=\"color: #4f809e; font-weight: bold; text-decoration: none;\" title=\"cannot even imagine that an economic collapse is coming\" href=\"http:\/\/theeconomiccollapseblog.com\/archives\/most-people-cannot-even-imagine-that-an-economic-collapse-is-coming\">cannot even imagine that an economic collapse is coming<\/a>.\u00a0 So why are so many really smart people forecasting economic disaster in the near future?<\/p>\n<p style=\"display: block; padding: 0px; margin: 1em 0px 1em 0px;\">For example, just consider what the Jerome Levy Forecasting Center is saying.\u00a0 This is an organization with a tremendous economic forecasting record that goes all the way back to the Great Depression.\u00a0 In fact, it predicted ahead of time the financial trouble and the recession that would happen in 2008.\u00a0 Well, now this company is forecasting that there is a\u00a0<a style=\"color: #4f809e; font-weight: bold; text-decoration: none;\" title=\"65 percent chance\" href=\"http:\/\/www.bloomberg.com\/news\/2014-11-10\/predictors-of-29-crash-see-65-chance-of-2015-recession.html\" target=\"_blank\">65 percent chance<\/a>\u00a0that there will be a global recession by the end of next year&#8230;<\/p>\n<p style=\"display: block; padding: 0px; margin: 1em 0px 1em 0px;\">&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>If Everything Is Just Fine, Why Are So Many Really Smart People Forecasting Economic Disaster?. The parallels between the false prosperity of 2007 and the false prosperity of 2014 are rather striking.\u00a0 If we go back and look at the numbers in the fall of 2007, we find that the Dow set an all-time high [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[236,383,860],"class_list":["post-1391","post","type-post","status-publish","format-standard","hentry","category-economics","tag-economic-collapse","tag-great-depression","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/1391","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1391"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/1391\/revisions"}],"predecessor-version":[{"id":1392,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/1391\/revisions\/1392"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1391"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1391"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1391"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}