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Why will it fail, and in what way?
We are going to have more inflation, more banks collapsing, and another credit bubble in addition to even larger trade deficits.
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In what way? By most indicators, it appears that we are in a (slow) recovery period right now.
What indicators? Labor and housing numbers that are ridiculously fixed? The dow being at record highs because of 2 trillion added to money supply in last 4 months?
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What exactly is going to cause this nightmarish recession? How and why is it going to happen?
Europe is going to collapse, as US, Japan, UK, and Europe pump more money into the money supply, we will suffer more inflation, much higher prices without any wage increases, higher unemployment, and another credit bubble.
Also of note, crude prices, and god forbid we actually have to go to war in Iran.