Sunday, December 11, 2011

2012 Global Economy will still worsen--Wiedemer

Robert Wiedemer, the prophet economist which predicted the great global crisis that now affects the US and the entire world. Wiedemer says 2012 will not be different from this year. Fact is, the economy worsen and will lead to crashes in the stock market.

As a dad, with two more babies this year, I am deathly worried. Survival in the capitalist jungle means eating someone alive while letting others eat others for you. That's the very concept of capitalism.

Wiedemer says two more bubbles will burst in the US economy--the US and government debt bubble will burst by 2013.

What is the effect of this bubble bursts in our economy? Well, the Philippines is a major exporter in the United States. Obviously, household spending has slowed down this year and will still continue to slow down by 2012. When spending slows down, it affects the export industries, especially in our case when we export more non-food products than food or agricultural products.

Likewise, our currency is pegged with the US dollar. If the dollar bubble burst, it will surely impact on ours.

Fact is, we are now feeling the effects of such an economic problem right now. Spending in the Philippines is also down significantly. People are spending less and less, a problem in a consumerist economy such as ours.

I would not want to give you a pessimistic scenario let Wiedemer do it for me. Watch this video link:

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