Here are two interrelated links based on an interview of Howard Davidowitz, chairman of Davidowitz & Associates. Go to the Yahoo link and watch the six minute video.
From the Yahoo article:
"Davidowitz, who is nothing if not opinionated (and colorful), paints a very grim picture: "The worst is yet to come with consumers and banks," he says. "This country is going into a 10-year decline. Living standards will never be the same."
Mike Shedlock elaborates on the Davidowitz interview and article, saying:
"Obama is now looking ahead to the next election and is attempting to buy union votes at the expense of everyone else but especially legitimate bondholders with senior rights. In a possible repeat of Smoot Hawley, Congress is again threatening to label China a currency manipulator. And like FDR, Obama is targeting corporation with anti-trust legislation (while consolidating already too big to fail banks into even bigger banks.
One thing's for sure. If you're not petrified of what Obama's doing , you're not paying attention."