We May Soon Learn that Massive Doses of Lortab Can't Cure the Financial Cancer Diagnosis of 2008

From the Global Economic Analysis Bulletin (GEAB) 2020 September edition:

The politico-financial "perfect storm" of November 2011

So, in November 2011 the United States will brace itself for a politico-financial "perfect storm" that will make the summer problems look like a slight sea breeze. The six elements of the future crisis have already come together:

. the "super committee" responsible for deciding budget cuts on which there was no agreement this summer will prove incapable of resolving the tensions between the two parties

. the automatic budget cuts required to be made in the absence of agreement will result in a major political crisis in Washington and increasing tensions, especially with the military and the recipients of social benefits. At the same time, this "automatic function" (a real abdication of decision-making authority by Congress and the United States Presidency) will generate major disturbances in the functioning of the state system.

. the other major rating agencies will join S&P in downgrading the US credit rating and diversification out of US Treasury Bonds will accelerate, in the knowledge that the United States now depends primarily on short-term financing.

. the inability of the Fed to do anything but talk and manipulate stock markets or gasoline prices in the United States, now makes any last-minute "rescue" impossible.

. over the next three months the US public deficit will increase dramatically as tax revenues are now already in the process of collapsing under the impact of the relapse into recession. In other words the increased debt ceiling voted in a few weeks ago will be reached well before the November 2012 elections... and this is information that will spread like wildfire in the fourth quarter of 2011 ... reinforcing all investors’ fears to see the United States follow Euroland’s example over Greece and force its creditors to take heavy losses.

. Barack Obama’s new plan in the fight against unemployment will have no significant effect. On the one hand, it’s not up to the challenge and, for this reason, can’t rally the country’s energies; and on the other, it will be cut to pieces by the Republicans who will only keep the tax cuts... The only result of which will be to increase the country’s debt even more.