Prior to the monumental shift of the dems winning big on Nov 7, which I correctly predicted. I also predicted that the dems would want big cuts in defense spending and big pharma.
I told the debunkers to short defense stocks and big pharma. We will soon see who is right and wrong. When gasoline was $1.13 in 2001 and I predicted the oil shocks the debunkers laughed and laughed. Then it happened and they said it was obvious, spoke about PEAK OIL.
Well, where I live gasoline went this year from over $3/gal down to under $2/gal. So much for PEAK OIL. The oil shock is caused by problems in middle eastern countries. Expect more oil shocks to come. Get a scooter!
I also see a flight of capital leaving the US and going to United Europe. Many US corporate headquarters will relocate to low wage coutries and claim SARBOX is the problem. The real problem is that they see the US as a sunset power and wish to be friends with sunrise powers.
The offshore outsourcing of high tech high wage jobs to poor low wage low tech countries will continue as US corporations shed more white collar jobs. The value of a college degree will decline dramatically as the few remaining US firms will demand lower wages in order to compete.
More and more US firms will try to streamline by totally eliminating their US presense. No factories, no warehouses, no corporate headquarters, no US employees.
Meanwhile for those jobs that cannot be outsourced like the clerks in retail stores. More automation such as self checkout will eliminate those jobs. In order to pay for all the complex computers replacing low wage employees, prices will go up.
Inflation to go into high gear and the Chinese to grumble more than usual.
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