(snippet) The anger building against the ruling elite on Wall Street and in Washington DC is real. Average Americans feel betrayed by politicians, bankers and corporate America. The Tea party movement is a reflection of that anger. The country certainly hasn’t reached a consensus about which direction the country needs to move, but we are still in the early stages of the Fourth Turning. A threat to our very existence will reveal itself in the near future and generate the consensus necessary to meet the threat.
What is beyond a doubt is that the country is facing extreme peril as it tries to maneuver its way through an economic Depression, a looming peak oil crisis, unresolved long-term fiscal obligations, and antagonism from countries throughout the world. The cycles of history do not reveal the exact nature of the Crisis ahead, but previous Crisis periods give us a flavor of what to expect. Based on our previous Crises periods and knowing which national issues have been ignored for decades, the likely threats to confront the nation over the next decade include:
Continued reduction in the national wealth of Americans as home prices drop another 20% and the stock market loses another 30% of its value.
A National Debt approaching $20 trillion within the next 5 years, potentially resulting in massive interest expense payments and/or a collapse of the USD.
When the Central Bank experiment in fiat currency fails within the next 5 years, a hyperinflationary depression is likely.
The demographic headwinds of a rapidly aging population combined with the gutting of industrial America by corporate chieftains insures that the American economy will be stuck in low gear. The result will be a steady decline in the American standard of living.
The diminishing supply of cheap, easily accessible oil will fundamentally change American society. The entire suburban sprawl existence of America, with 260 million automobiles and food trucked from 1,500 miles to grocery stores will disappear practically overnight.
The wrenching changes which will be required to localize, combined with the loss of wealth, will likely lead to social chaos, possible revolt, and the use of U.S. military forces against citizens of the United States. Geographic fragmentation of the country is a distinct possibility.
The desperate need for oil will provoke wars for precious resources. The Middle East is likely to turn into a battlefield. The combatants are unknown at this point, but China and Russia are likely to be involved. With the proliferation of nuclear weapons, an escalation could lead to a catastrophic worldwide conflagration.
Fourth Turnings always sweep away the old order and replace it with a new order. There is no guarantee that the new order will be better. It could be far worse.