23/08/2011 16:44 BST | Updated 22/10/2011 06:12 BST

The Great Depression Of 2013

With the markets in turmoil, I thought I would do some crystal balling for you.

So, here it is, as I see it...

1. The US credit rating downgrade is the first step towards a public opinion that people are not as willing to lend to government knowing that they will bailout banks during the next crash.

2. Quantitative easing will try to stimulate another false economy as we are seeing now, but as people take on more debt to stimulate the economy, they will remember that they can't afford it again.

3. As the next round of regulations come into play and Banks need to have tighter reserves, banks will lay off their staff as they are now and use technology instead to cut costs to build reserves. So Basel III will essentially just create unemployment and make no difference on the stability of Banks.

4. As less people have jobs and more take on debt, we will have the credit card crisis next as people default on credit cards, sending the markets into turmoil again, followed by another housing crash, as people think housing is cheap right now and are leveraging up again.

5. Banks will stop lending to each other as they try to build reserves again and the government will freak out.

6. Governments will fail to raise money to bail out the banks as their credit ratings get downgraded further and banks will fold sending the economy into a depression by 2013.

7. Fed up with the depression we decide to stop the ponzi scheme and reform banking, opting for a system that will work as outlined on my blog.

I am very hopeful of the future at the other end, but we will have a depression to get there.

Love it or hate it, let me know what you think. I am finishing off my book on how to prevent this and would love to hear your comments for possible inclusion in the book.