Click to open: Economic Depression or Deep Recession Likely, Infinite Energy, Issue 79 (May 2008) by Lewis. In this short letter to the editor in 2007, a warning was published for people that based on my theory, a Kondratieff depressionary era was about to start with a 1929-type financial crisis and crash. This article says:
An economic depression or major recession is likely in America in the next few years. In 1989, I developed a theory about economic depressions arising from scientific revolutions in physics. The theory assumes that there is a causal connection, and history shows this. The theory predicted several major events in industry and science that have occurred when predicted. This is offered as evidence that the theory has predictive ability. The theory predicts that a depressionary period is likely due to cessation of major new product introduction, historically high debt, automation, and the labor displacing effect of the formation of oligopolies. These economic features are now observed in the U.S. economy. Therefore, a depression or major recession is likely in the next few years.
This article was written in the fall of 2007, and it was published in May of 2008 in Infinite Energy Magazine, Issue 79, p. 7, May, 2008. This prediction was made in the early 1990s and was confirmed in 2008.