Episode 535 • • 1:25:23 - 1:26:58
535: Swivel-Chair Speed
Economic Panic of 1847, Railway Bubble, 2017 Forecast
The Panic of 1847, caused by a collapse in the British railway industry, is identified as a historical parallel to the 2007 housing bubble. Based on 80-year and 170-year economic cycles, a major global collapse is predicted for 2017. This cycle theory suggests that the world may avoid a total collapse in the immediate term but will face a significant downturn in three to four years.