Deflation

Shilling thinks that deflation is already here. Financial assets, tangible assets, commodities, wages and currencies have deflated. Only government and goods and services remain. Bernanke and the global banking system have failed. Of course they did, everything was a lie all along.

Shilling also says housing has lost 43% of it's value AND unemployment is really 16.2%. In other words...ruin on a national level...for at least a decade. Maybe forever if the OWS crowd gets their way and promotes a powerful central government.

Those who think that you can have a global middle class are nuts. Oh you might have one, but it's not going to look anything like a 1950-1980 american middle class. More like Mexican lower middle class or worse. And with 7 billion humans on the planet, there's going to be al ot of suffering.