Economic Meltdown 2010

Discussion in 'Economy' started by Terral, May 15, 2010.

  1. Terral
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    Terral Terral Corp CEO

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    Greetings to All:

    Gerald Celente connects the dots in his description of the coming US/Global Meltdown 2010:

    [ame="http://www.youtube.com/watch?v=bCqVkXX5lq8"]Gerald Celente: US/Global Meltdown Is Coming Part 1/5[/ame]

    [ame="http://www.youtube.com/watch?v=q8ApSBDwWic"]Gerald Celente: US/Global Meltdown Is Coming Part 2/5[/ame]

    [ame="http://www.youtube.com/watch?v=QVonJr9XvK0"]Gerald Celente: US/Global Meltdown Is Coming Part 3/5[/ame]

    [ame="http://www.youtube.com/watch?v=yB1msw__g1Y"]Gerald Celente: US/Global Meltdown Is Coming Part 4/5[/ame]

    [ame=http://www.youtube.com/watch?v=1b7kGfRZ0AI]Gerald Celente: US/Global Meltdown Is Coming Part 5/5[/ame]

    The Stimulus Bubble is bursting and the markets are unraveling, and there is no stopping the coming "meltdown." Gerald Celente gives excellent advice on where to put your money.

    GL,

    Terral
     
    Last edited: May 15, 2010
  2. william the wie
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    william the wie Gold Member

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    with the EU and China both in deep trouble this is quite possibly right.
     
  3. Big Fitz
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    Big Fitz User Quit *****

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    Greece is the canary in the mine shaft. How fast we succumb is the only question left. Nobody's getting out of this in one piece. I was being generous and guessing 10-14 months.
     
  4. georgephillip
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    georgephillip Gold Member Supporting Member

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    Harry Dent's prediction for 2010 is very similar to Celente's vision.

    I'm having trouble linking to Harry's latest (May 10 You Tube video) but essentially he's saying there will be one more rally in stocks lasting until June/July early August at the latest.

    Harry's forecasting a top between 11300 to 11800.
    Followed by a CRASH that results in Dow 3800 by January of 2011.

    He claims the coming stock meltdown will be similar to the four month drop in oil prices that saw prices decline by 78%($147/barrel to $32/barrel)

    "The worst of this (current) downturn will occur in the next two years."
     
  5. Neubarth
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    Neubarth At the Ballpark July 30th

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    Obviously he does not think that the Obama hoodwinking of the public has any lasting power.

    I've been calling it as I see it. It is all smoke and mirrors and anybody can see that if they just take the time to look. We have no economic improvement. The economy is still crashing. Slower now than it was, but it is still headed down. If Obama had made any real effort to put people back to work, we would not be on the precipice that we now see for the future. Without substantive effort from Washington, it is all going to collapse.
     
  6. william the wie
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    william the wie Gold Member

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    Dent is very good but his predictions do not factor in bureaucratic incompetence. This is a necessary evil because how much and what flavor of incompetence will be seen cannot be predicted. Age related spending patterns are predictable decades in advance because it takes 16-30 years for the economic impact of those born today to really kick in but silly policies can spring up overnight.
     
  7. Mike Mitrosky
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    Mike Mitrosky Member

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    hmm
     
  8. Big Fitz
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    Big Fitz User Quit *****

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    That's because balance sheets, markets and the laws of economics do not hoodwink for long or for good. We've been coasting on the force of our velositous exit from the bubbles popping in succession and flapping our arms like crazy with the stimulus packages.

    guaranteed fail and bigger crater when we hit.
     
  9. georgephillip
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    georgephillip Gold Member Supporting Member

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    Dent's latest is here.

    He spends several minutes comparing our total debt overhead of $102 trillion which he claims includes ALL individual, business, and government debt (including unfunded liabilities) to the largest single component of our burden the financial sector's debt of $17 trillion.

    Mike Whitney hits some of the same notes on CounterPunch where he quotes the WSJ on the effects of toxic magnification:

    "In one case, a $38 million subprime mortgage bond created in June of 2006 ended up in more than 30 debt pools and ultimately caused roughly $280 million in losses to investors by the time the bond's principle was wiped out in 2008..."

    Is it paranoid to think American pensions will be absorbed into the banker's bonus pools like those in Greece?
     
  10. uscitizen
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    uscitizen Senior Member

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    Aurthur Dent?
     

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