A friend pointed me to an interview of Gerald Celente in FoxBusiness.com - where he predicts that the USA would face problems of tax, homelessness, and low consumer demand over the next 4 years. A bit of googling revealed that Gerald Celente is a Futurist with a seemingly high strike rate of forecasting major trends. He runs Trends Research Institute. The video is worth a watch.
Others too are worried - in varying degrees. Paul Krugman worries about the next year , while other feel that that the present monetary system is suspect.
Not pleasant reading going into the weekend. In India, we will get a "fiscal stimulus" package from the new FM this weekend - around noon tomorrow. Today's market action of a 2.5% drop seems to suggest that traders have already decided that the measures to be announced will be inadequate. Retail price for petrol and diesel has been dropped from midnight today.... the bad news does not stop for the oil marketing companies.
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