30 Reasons to Buy Rice, Beans, and Bullets.

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30 reasons for Great Depression 2 by 2011

New-New Deal, bailouts, trillions in debt, antitax mindset spell
disaster
By Paul B. Farrell, MarketWatch
Last Update: 11:53 AM ET Nov 19, 2008

ARROYO GRANDE, Calif. (MarketWatch) -- By 2011? No recovery? No new
bull? "Hey Paul, why do you keep talking about a bigger crash coming
by 2011?" Readers ask that often. So here's a sequel to my predictions
of 2000 and 2004, with a look three years ahead:

First. Dot-com crash

We pinpointed the dot-com crash at its peak, in a March 20, 2000
column: "Next crash? Sorry, you won't see it coming." Bulls-eye: The
dot-com bubble popped. The economy went into a 30-month recession. The
stock market lost $8 trillion.

And today, over eight years later, the market is still roughly 40%
below its 2000 peak. Factor in inflation and the average stock has
lost well over 50% of its value. Stocks have proven to be a very big
loser, a bad investment for Americans, thanks to Wall Street's selfish
greed, plus the complicity and naivet=E9 of politicians, press and
public.

Second. Subprime meltdown

We re****ted on warnings of another crash coming as early as 2004,
wrote a sequel, also titled "Next crash? Sorry, you won't see it
coming." Yes, we were early, but in good company. We wrote many more
warning columns. Few listened.

Subsequent events, notably former Fed Chairman Alan Greenspan's
admission of his failures in congressional testimony, prove that if he
and other Reaganomic ideologues weren't so myopic and intransigent
about proving their free-market deregulation theories, they could have
acted earlier and prevented today's colossal mess. Instead, their
ideology kept the bubble blowing, delayed the pop, making matters
worse.

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