Economic Meltdown 2010

[Terral]

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

 

[william the wie]

with the EU and China both in deep trouble this is quite possibly right.

 

[Big Fitz]

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.

 

[georgephillip]

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."

 

[Neubarth]

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."

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.

 

[william the wie]

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."

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.

 

[Mike Mitrosky]

hmm

 

[Big Fitz]

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.

 

[georgephillip]

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?

 

[uscitizen]

Aurthur Dent?

 

[georgephillip]

Financial speculators transfer trillions of dollars of bad debt and toxic assets from their books to the government's, then use their shills in the corporate media and government to blame social spending as the source of debt and deficit.

Since 2008 many of those underlying debt claims are fictitious and illegitimate, based largely on manipulated asset price bubbles, dubious or illegal financial speculations,and the scandalous conversion of financial gangsters' losses into public liabilities.

"Briberization" is how economist Joseph Stigletz recently described similar actions by the IMF in parts of the developing world.

Now it's our turn.

 

[Big Fitz]

The worst thing about money is, unlike energy or matter, it CAN be destroyed.

 

[georgephillip]

Is the money being destroyed or absorbed into fewer and fewer hands with each passing business cycle?

 

[Big Fitz]

Is the money being destroyed or absorbed into fewer and fewer hands with each passing business cycle?

When an asset worth a million dollars loses all value, it destroys a million dollars.

As for the 'fewer and fewer hands' argument... I'm sure class envy pundits want everyone to believe that... but I don't think that's the case in total. Sure there are some trying that, but growing economies put more money in EVERYONE'S hand, while shrinking economies take it from everyone' hand.

 

[georgephillip]

Is it accurate to say some of those million dollar assets have been resurrected by taxpayer bailouts?

 

[uscitizen]

More of the same will not fix our job malise.
until changes are made in that area things will be pretty sucky.

 

[georgephillip]

Are 25 hedge fund managers worth 658,000 teachers?

 

[California Girl]

Are 25 hedge fund managers worth 658,000 teachers?

*Edges carefully out onto the limb*

You don't know what the hell the topic is about really, do you?


*Edges slowly back to the trunk*

 

[Toro]

Are 25 hedge fund managers worth 658,000 teachers?

Nope.

But life ain't fair.

 

[Big Fitz]

Is it accurate to say some of those million dollar assets have been resurrected by taxpayer bailouts?

Nope. Those 'million dollar assets' are now worth pennies on the dollar. Now if someone wishes to pay a million bucks for an asset that is worth only a plug nickel, they're overpaying and caveat emptor. There's often a very good reason why an asset loses value. Illusion and false perception can only inflate price for a limited period of time.