For one economist the “fiscal cliff” will be only one problem among many that are coming very soon

By Kevin “Coach” Collins

Whether Barack Obama’s policies are popular or not is immaterial. They are destructive and will eventually be seen for what they are by all but the most dedicated parasites among us. The pain Obama will cause us all will injure us all to one degree or another and time will bare this prediction out.   Time will enable us to say “We told you so” although that will be little consolation.  Things are so bad the world over that nothing can stop the eventual collapse of the global financial markets.     

This is the situation we face according to well respected Economist Jim Fitzgibbons who heads the Highlander Fund.

Here are Fitzgibbon’s observations and predictions.

 “We will be contracting in 2013 (Recession…Depression).  I had originally thought a clear implosion was due Q2 2013, but I now have to consider a moving up in time.”

“[The coming recession] runs the risk of being substantially worse than what happened in 2008. This is a global bank melting, not just an American event. Our model suggests a few things at the moment:

 “Risk assets are about to get clobbered in 2013 and a Bear market bottom is due by Q4 2013, a bounce that is pathetic and a final crushing bottom in 2016.”

” Real economic activity is about to slow precipitously and commence a serious global contraction.”

” We are stuck in a Banking deflation. Inflation and hyper-inflation cannot get a foothold until new credit can be created and lent quicker than the repudiation and destruction of outstanding debts. So far, no such evidence.”

“Storm Sandy will knock real GDP much lower than most originally forecast…0% to 1% annualized. Q1 2013 will be seasonally higher, and then collapse into mid-year and year end 2013.”

“The real deadly event is when the US Treasury Bond Market peaks and flails, then reverses course. I am expecting that in 2013.”

“Like SANDY beat up the northeast, we are now forming the PERFECT STORM in banking, finance and economics.”

Clearly things like this will happen and we can only scramble to find a way to survive as they unfold. This is a time for prayer and hope that the hand of God will save America from the worst of what is coming. Nevertheless, we are a tough and resilient people. If any nation in history could survive what Obama has brought on America is that country.


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One thought on “For one economist the “fiscal cliff” will be only one problem among many that are coming very soon”

  1. It didn’t really have all that much to do with Obama, except that those that are on the dole want to stay on the dole…..and he will deliver on that.

    Mitt Romney was a terrible choice, and the GOP establishment is again kicked in the groin because of their stupidity. People are looking to blame all manner of nonsensical things, but it really boils down to the fact that Romney did not seem sincere. He also seemed to be in agreement with a lot of Obama’s policies during the debates. Factor in Romneycare and his past record, and “Mr. Electable”…..wasn’t really.

    For what it’s worth….Mitt Romney failed to advocate for:

    (1) Auditing and/or ending the FED

    (2) Stopping the devaluation of our dollar through Quantitative Easing for life

    (3) Free market solutions to the health insurance crisis

    (4) Restoring individual liberty by repealing the Unconstitutional NDAA and Patriot Act

    (5) Reassessing our irrational foreign policy that has us engaged in endless wars that have led to even greater instability in the Middle East, and our policy of foreign aid that showers billions of dollars on both friend and foe each year – effectively pushing us to bankruptcy.

    (6) Shrinking the ACTUAL size and scope of the federal government, as opposed to simply cutting the percentage of projected increases in spending.

    (7) Enforcing the 10th Amendment and returning much of the rights to the states that the Federal government has unconstitutionally assumed over time.

    (8) Scrapping our failure of a tax system and replacing it with a flat tax, rather than a few nips and tucks to the progressive rate structure.

    So a lot of people stayed home, or voted “Other”. He also disenfranchised the Ron Paul crowd and made no effort whatsoever to appease or even acknowledge their issues.

    He tried to be Obama lite, all wrapped up in a tidy little Red, White and Blue wrapper. The people aren’t buying into that crap anymore. That’s why Mitt Romney lost.

    Yes, this will be painful and our country is on a crash course with collapse. The good news is that there are people of principle who still got reelected, and a few new liberty-minded reps were voted in as well. We’ll have to take it one day at a time.

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