Great Recession of 2007-2010

1. O. Max Gardner IIIO. Max Gardner III
Max Gardner’sMax Gardner’s
Bankruptcy Boot CampsBankruptcy Boot Camps
TheThe
Black SwanBlack Swan

2. The Black Swan
• No Ability to Predict the Future Based
on Historial Models
• Events are Subject to the Laws of
Random Seclection
• Lack of Ability to Control the Present
or the Future
• Law of Unintended Consequences

3. Black Swan for the US
The ECONOMY
• Mortgage Meltdown
• Bank Failures
• Hedge Funds Collapse
• Banks Stop Lending
• Credit Markets Seize
• Bailouts Don’t Work
• Foreclosures Out of Control

4. Real GDP GrowthReal GDP Growth

5. The National DebtThe National Debt
In $ TrillionsIn $ Trillions

6. The BudgetThe Budget
in $ Billionsin $ Billions

7. Uninsured AmericansUninsured Americans
In Millions of PeopleIn Millions of People

8. Annual Insurance PremiumsAnnual Insurance Premiums
Per FamilyPer Family

9. Median Household IncomeMedian Household Income

10. AMERICANS IN POVERTYAMERICANS IN POVERTY
MILLIONS OF PEOPLEMILLIONS OF PEOPLE

11. TransportationTransportation

12. UtilitiesUtilities

13. FoodFood

14. FoodFood

15. Prescription DrugsPrescription Drugs

16. COLLEGECOLLEGE

17. PERSONAL SAVINGS RATEPERSONAL SAVINGS RATE

18. CONSUMER DEBTCONSUMER DEBT

19. FOREIGN OIL DEPENDENCYFOREIGN OIL DEPENDENCY

20. U.S. Trade Deficit

21. STRENGTH OF U.S. DOLLARSTRENGTH OF U.S. DOLLAR

22. FOREIGN VIEW OF U.S.FOREIGN VIEW OF U.S.

23. Max Gardner’sMax Gardner’s
Bankruptcy Boot CampsBankruptcy Boot Camps
PO Box 177PO Box 177
Casar NC 28020Casar NC 28020
704.418.2628 (Max Direct)704.418.2628 (Max Direct)
www.maxbankruptcybootcamp.comwww.maxbankruptcybootcamp.com
www.maxgardnerlaw.comwww.maxgardnerlaw.com
maxgardner@maxgardner.commaxgardner@maxgardner.com