Passa ai contenuti principali

The Man Who Predicted "Mayhem" In 2020 Ten Years Ago Says A Civil War Could Be Next

A decade ago Peter Turchin predicted that 2020 would be "mayhem", including "widespread civil unrest". 

Turchin teaches cultural evolution at the University of Connecticut and, in 2010, predicted in the scholarly journal Nature that America would "suffer a period of major social upheaval" starting around the year 2020. 

"They had no reason to believe I wasn't crazy," back in 2010, he told Time"People did not understand that I was making scientific predictions, not prophecies."

And from the current vantage point, he looks to be exactly right. 2020 started with a global pandemic and has torpedoed into further chaos with the killing of George Floyd and the ensuing riots and protests. 

Turchin isn't especially excited about being right: "As a scientist, I feel vindicated. But on the other hand, I am an American and have to live through these hard times."

Turchin has spent decades studying crises in America and the structural defects that helped created them. He said there were "many signs" that there would be upheaval starting in this decade. 

Citing stretches of turmoil that occur about every 50 years, he looked at data that analyzed peaceful and violent anti-government demonstrations involving at least 100 people over the 230 years preceding 2010. 

And to no Zero Hedge reader's surprise, he looked at "declining wages, wealth inequality and exploding national debt" as social pressures that affected national stability. His model showed that the U.S. would reach a "boiling point" in 2020.

Recall, money manager and Central Bank critic Bill Fleckenstein commented on a recent podcast that the Fed's actions over the last several decades also helped contribute to this boiling point. 

Turchin says that worse conditions could be on their way, as societal crises often last 5 to 15 years. He believes that the underlying roots of the unrest need to be addressed to prevent situations like those playing out in South Africa, where protests about inequality have been taking place for 26 years. 

"President Donald Trump's administration has denied that systemic racism exists in the U.S. law enforcement system, which could delay change longer," Turchin says. 

With the coronavirus still worsening the wellbeing of the country and millions out of work, he now believes that the unrest "may escalate all the way to a civil war."

"Things are not as bad as they can be," Turchin concluded.

Commenti

Post popolari in questo blog

Charting the World Economy: The U.S. Jobs Market Is On Fire - Bloomberg

Charting the World Economy: The U.S. Jobs Market Is On Fire - Bloomberg https://www.bloomberg.com/news/articles/2019-12-06/charting-the-world-economy-the-u-s-jobs-market-is-on-fire Charting the World Economy: The U.S. Jobs Market Is On Fire Zoe Schneeweiss Explore what's moving the global economy in the new season of the Stephanomics podcast. Subscribe via  Apple Podcast , Spotify or  Pocket Cast . The last U.S. payrolls report of the decade was a doozy, beating expectations and doing its bit to keep the consumer in good health heading into 2020. That's good news given the various pressures still weighing on global growth. Here's some of the charts that appeared on Bloomberg this week, offering a pictorial insight into the latest developments in the global economy. U.S. Advertisement Scroll to continue with content ...

Fwd: The Looming Bank Collapse The U.S. financial system could be on the cusp of calamity. This time, we might not be able to save it.

After months  of living with the coronavirus pandemic, American citizens are well aware of the toll it has taken on the economy: broken supply chains, record unemployment, failing small businesses. All of these factors are serious and could mire the United States in a deep, prolonged recession. But there's another threat to the economy, too. It lurks on the balance sheets of the big banks, and it could be cataclysmic. Imagine if, in addition to all the uncertainty surrounding the pandemic, you woke up one morning to find that the financial sector had collapsed. You may think that such a crisis is unlikely, with memories of the 2008 crash still so fresh. But banks learned few lessons from that calamity, and new laws intended to keep them from taking on too much risk have failed to do so. As a result, we could be on the precipice of another crash, one different from 2008 less in kind than in degree. This one could be worse. John Lawrence: Inside the 2008 financial crash The financial...

Another Paradox: Consumer Spending Expectations Surge, Despite Dismal Income, Earnings

Call it the latest economic paradox. Despite widespread stories of doom and gloom about the state of US consumer finances once the fiscal stimulus bill expires on Dec 31, the latest NY Fed survey of consumer expectations unexpectedly shows that US consumers have little intention of slowing down their spending. In fact, and very paradoxically,  despite depressed and flat income and earnings growth expectations,  with median one-year ahead expected earnings growth at 2.0% for fifth consecutive month and expected income growth barely little changed at 2.14% ... ...  consumers' 1-year ahead  spending growth expectations  jumped to 3.73% over the next 12 months in November  - the highest level in more than four years, not only up from the 3.06% in the previous month but a whopping 33% more than the 2.8% reported last November,  making this the biggest Y/Y increase in expected spending in series history. This bizarre increase took place even as labor market signals were mixed: although t...