A Doomsday View of 2012

By James Petras for Information Clearing House The economic, political and social outlook for 2012 is profoundly negative. The almost universal consensus, even among mainstream orthodox economists is pessimistic regarding the world economy. Although, even here, their predictions understate the scope and depth of the crisis, there are powerful reasons to believe that beginning in 2012, we are heading toward a steeper decline than what was experienced during the Great