OLATHE, Kan. (AP) - An agricultural economist from suburban Kansas City is forecasting bad times ahead. Bill Helming of Olathe has been wrong before. And he wouldn't mind if he is wrong again with his dire predictions of a beaten-down stock market, a jobless rate at 12 percent, widespread debt defaults and a deflationary price spiral. Helming makes his case for what he calls a "modern-day depression" in his 195-page, self-published book. It's title is "What Goes Up Eventually Comes Down." He says, "The stage is set for some difficult times in urban America." Many other economists are warning that the recovery will be weak and slow - but a recovery all the same. But Helming still sees too many underlying problems. He says that in short, we're living in an economy packed with bubbles.
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