Pretty bad, if Bill Bonner is even close to correct:
But yesterday evening…walking along the quai…we had a thought. What if Mr. Market intends to correct the entire European advantage? What if he intends to correct the entire Industrial Revolution…bringing the developed world's GDP/person more into line with those in China and India? Maybe he intends to unhinge the sky again? Maybe we will see all five stages of collapse - financial, economic, political, social and cultural…and maybe some hurricanes and a major epidemic too!
Are you ready for it if it gets this bad--or even half so bad? It's a possibility you must consider, even in the midst of the coming Coronation of The Obama--especially since The Obama's actions may accelerate the trend.
It would be false to say that these things have never happened before, but they defiantly haven't happened in the last few hundred years. It could be that the entire world has lost the "Mandate of Heaven", and we are about to see changes the likes of which we have only read about in history books.
Best to be prepared.