Loading, Please Wait...
DALLAS, TX--(Marketwired - Jan 6, 2016) - Ravi Batra, author of End Unemployment Now: How to Eliminate Joblessness, Debt and Poverty Despite Congress, has made a career out of making accurate forecasts. He claims an over 90 percent success rate in his predictions that seem to be borne out by what he has written in the past. For instance, in two books penned in 1978 and 1980, he foresaw the fall of Soviet communism before the end of the century, a forecast that earned him the medal of the Italian Senate in 1990.
In another book published in 2006 and noted for its predictive accuracy, The New Golden Age: The Coming Revolution against Political Corruption and Economic Chaos, he made forecasts for the next 10 years. He prophesied a very deep recession starting in 2007, along with a lingering malaise and stagnation at least till 2016. The title of this book says it all. He also foresaw the Bush and Obama bailouts along with a giant increase in federal debt. Regarding oil, he predicted a continuing bubble that would crash after 2012. It seems everything he said or wrote in 2006 has come true.
What is in store for us in 2016? That is where his new book, End Unemployment Now, comes in. "2016 is going to be a year of the climax," says Batra, an economics professor at Southern Methodist University in Dallas. "It will be a year in which a revolution begins against the rule of money, leading to economic reforms by 2018. After that a golden age starts and is in place around the end the decade."
End Unemployment Now (www.ravibatra.com) explains the reason behind what is now known as The Great Recession and offers a variety of reforms. "The main cause of our troubles is monopoly capitalism, which is a system dominated by giant companies that charge high prices, pay low wages and extract huge productivity from employees," says Batra. "As a result, supply rises faster than demand and generates layoffs. So the solution lies in breaking up the behemoths and returning to free markets, where small firms engage in price and quality competition."
However, politicians are beholden to wealthy corporations and will not permit such reforms, at least until the revolution. Batra says there are existing laws that any U.S. president can use to quickly eradicate poverty and joblessness, making Congress irrelevant to the restoration of prosperity. For instance, the president can ask the FDIC to create what is known as a "bridge bank" that would compete with large banks. This step could trim interest rates on credit cards by as much as 66 percent, he says. "Using The FDIC alone can cut poverty in half in just a week," an outlandish claim that, according to Batra, "depends on the president acting courageously like the FDR and not worry about the political fallout."
If recent financial turmoil is any indication, we may do well to pay heed to Batra's words.
About Ravi Batra
Dr. Ravi Batra, a professor of economics at Southern Methodist University in Dallas, is the author of five international bestsellers. His latest book is "End Unemployment Now: How to Eliminate Joblessness, Debt and Poverty Despite Congress" (www.ravibatra.com). Batra received the Pratima and Navin Doshi Award for his contributions to economic analysis. In 1990, the Italian prime minister awarded him a Medal of the Italian Senate for writing a book that correctly predicted the downfall of Soviet communism, 15 years before it happened.