It wouldn’t be wise to dismiss such questions out of hand as negative hype. We’ve seen some amazing things in just the past few months.
On February 20, 2009, “Coast to Coast AM” featured an interview with Michael Panzner, conducted by Art Bell, in which they discussed the economic condition of the U.S. and the world. It’s surprising how many things Panzner said are still relevant.
Panzner says the U.S. is in what looks more like a depression than recession, and it may go on for some time to come. This could be the new norm, and we should be ready to deal with it.
Panzner believes the largest players in our banking system are insolvent. Exposure to trillions of dollars of mortgage backed securities, derivatives, and default swaps have combined to bring about the present situation. Bailouts and stimulus packages will only postpone the inevitable and won’t resolve the nation’s financial troubles. These are problems that won’t simply be resolved by positive thinking.
Panzner believes the future holds more stock market drops, currency devaluation, and major trouble for the retail sector. It could even come to the break up of the U.S., conflict with Mexico and perhaps a new world war.
When Giants Fall: An Economic Roadmap for the End of the American Era, by Michael J. Panzner goes into further detail. He makes the case for the turbulent economic changes that will take place over the next few years. He examines the resulting economic opportunities.
He says these economic changes will be widespread. Businesses will struggle during wars, shortages, logistical disruptions, and there will be a breakdown of the established monetary order. People will be forced to rethink livelihoods, lifestyles, living arrangements, and where they live. He predicts that political structures will be in flux, as local leaders gain influence at the expense of national authorities.
For some who are enlightened, this will be a time of opportunity. Panzner offers insights and strategies to help get through the tough times ahead.
Can it hurt to be prepared if Panzner’s wrong? What if he’s at least partly right? How prepared are you for a shakeup of the order of life as we now know it? As with any time of crisis throughout history, there exists opportunity for some to succeed and find a new niche. Will you be one of those?
You can explore Panzner’s views and projections by getting your own copy of When Giants Fall. Click on the book’s title wherever you see it linked in this post. That takes you to the page where it’s featured. Place your order from there.
Remember, be informed, and think survival.