The year was 2009 and prosperity was just around the corner. The situation was reminiscent of the 1930s: in those times prosperity was also just around the corner, as further explained in the February 3, 2013 Ersjdamoo’s Blog entry.
In a radio address of January 3, 2009, President-elect Barack Obama expressed hopes for a “stimulus plan.” He wanted to “create three million new jobs”.
The “No. 1 goal of my plan … is to create three million new jobs, more than 80 percent of them in the private sector,” stated the lanky Illinoisan. (“Prez-Elect Makes New Pitch, Promises on Job Creation — Including 600,000 New Government Employees”, by Jake Tapper. ABC News blog, Jan. 3, 2009)
But economists Carmen Reinhart, from the University of Maryland, and Kenneth Rogoff, of Harvard predicted “an explosion in government debt.” (“Economists see jobless surge, deeper housing hole”, by Pedro Nicolaci da Costa. Reuters, Jan. 5, 2009)
Who could tell where it was all going, as Barack Obama prepared to be inaugurated as U.S. President in 2009? One purported psychic, Judy Hevenly, foresaw that the ghost of Martin Luther King would hover over Obama on the Inauguration Day ceremony. (That prediction, of course, is impossible to verify in retrospect.) (“Looking at what’s ahead in ’09”, by Michel Nolan. San Bernadino Sun, Jan. 2, 2009)
Barack Obama had a dream: that the government could effectively create jobs. Ben Bernanke too had a dream: “If I print enough money, everyone will be a millionaire.” Together the duo labored mightily for prosperity to emerge from behind the corner.
Other latest “Hevenly info” was said to be available from purported psychic Judy Hevenly at her web site, http://www.judyhevenly.com. (But checking the site I found it mostly about Hollywood predictions.)
A not so “Hevenly” prediction was being made by former Bank of England policymaker Willem Buiter. Professor Buiter, in 2009 associated with the London School of Economics foresaw “a massive collapse in the dollar.” Investors would become disenchanted with the dollar and rush for the exits. (“Willem Buiter warns of massive dollar collapse”, by Edmund Conway. London Telegraph, Jan. 6, 2009)
“Writing on his blog, Prof Buiter said: ‘There will, before long (my best guess is between two and five years from now) be a global dumping of US dollar assets, including US government assets.'”
In support of the “Blame Bush” school of thought, Buiter charged that “The past eight years of imperial overstretch, hubris and domestic and international abuse of power on the part of the Bush administration has left the US materially weakened financially, economically, politically and morally.”
But going into his fifth year in the White House, can Barack Obama and others still cling to the “Blame Bush” excuse?
The “Amazing Kreskin” had foretold four-and-a-half years of “recession” back in 2009. That would mean, if true, that prosperity is about to at long last emerge from around the corner about July 2013. However Ersjdamoo’s Blog has predicted that “2013 Equals 1937” in the December 3, 2012 blog entry. 1937 saw a “depression within the Depression.” Parallels between then and 2013 “are striking.”