Here are my 2012 predictions for the US economic situation:
1. Sometime in the first quarter of 2012, the first domino will fall in the coming global financial meltdown when one of the most troubled Euro-zone countries (Greece, Italy, Ireland, Portugal, or Spain are the likely candidates) defaults on their fraudulent international bankster debt, leaves the Euro-zone, and returns to their own sovereign money system. It will only take one country to get the fire started, and more will follow shortly thereafter. By the way, that trail of dominos leads straight to Germany, France, Great Britain, and...the USA.
2. Once the Euro-zone starts to implode, it's only a matter of time before the economic fallout reaches US shores. We already know the Fed sent billions in US taxpayer-funded bailout $$$ overseas to prop up its foreign bankster pals a few years ago - what happens when those same banks threaten to collapse again? The corrupt centralized banks have become obsolete and are destined to fail in the next several years...and the process won't be pretty. In 2012 the Fed will once again move to bail out its international partners in crime.
3. The big US banks - Bank of America, JP Morgan Chase, Citigroup, and Wells Fargo - are insolvent. The Euro-zone crisis will only exacerbate the problems here. Sometime in mid-to-late 2012, there will be a 2-3 day "bank holiday" in the US. During that time, all personal funds will be frozen and unavailable for withdrawal. If that scenario comes to pass, it will followed by panic, outrage, protests, riots, and widespread calls for the end of the Federal Reserve.
4. Regardless of whether the above 3 predictions occur, the effort by some in Congress to Audit the Fed is going to shift into a full-force movement to End the Fed altogether. The fiat paper money system has been exposed as a Ponzi scheme that enriches a few at the expense of everyone else. The international bankster cabal knows no shame, and their greed and avarice knows no limit - they don't even bother to try to mask their absurd corruption anymore. Look for renewed discussion about the US re-instituting the gold standard, and for 2012 political candidates everywhere to start choosing sides in the debate.
5. Millions of people have already wised up and moved their money from the aforementioned big banks, and in the coming year millions more will join the exodus. Every time the banksters institute new policies to gouge their loyal customers, more customers wake up and take their business elsewhere. Every time the banksters give corrupt CEOs obscene, record-setting bonuses, more customers get the message and make the switch to a local banking institution. Every time the media uncovers another case of fraud by the banksters, more customers decide it makes sense to keep their money in their community.
6. US housing prices will decline by an average of at least 12% nationally, as tracked by the Case-Shiller index. With actual U-6 unemployment rates near historic highs, wages stagnant at best, and new job opportunities few and far between, where is the demand for housing going to come from? With tens of millions of homeowners under water on their mortgages and unable to sell even if they wanted to, millions more behind on their mortgage, millions more waiting to be foreclosed, and millions more thinking a strategic default sounds like a reasonable idea, where is the demand for housing going to come from? Those who want to move can't, and those who can afford to don't want to. No one knows where the housing bottom will be, but we're not there yet.
7. Occupy Wall Street wasn't the first movement to question our current state of reality - my personal favorites are The Thrive Movement and The Zeitgeist Movement - but it has been perhaps the most successful at drawing attention to the plight of the 99% and the insanity of the 1%. The coming year will bring renewed vigor and expansion from the Occupy Everything movement, as well as an explosion of similar protest movements in the US. If/when the Eurozone defaults lead to a banking crash and temporary financial shutdown in the US, then Occupy and its siblings will only respond in kind by taking to the streets en masse until Obama and/or the US government intervenes. Either way, my sense is that it's going to get ugly in 2012 before it gets better. It pains me to say so, but I'm predicting that this year we will see troops in the streets. I can only hope and pray that violence is averted and our better nature prevails.
Stay tuned...more 2012 predictions to come!