Celente Predicts Super Depression in 2012

[grannysoo]

More info from the Wall Street Journal on-line:

"The commercial real estate time bomb is ticking," Joint Economic Committee Chairman Carolyn Maloney, D-N.Y., said in opening remarks to a hearing before her panel Thursday.

http://online.wsj.com/article/BT-CO-200 ... 11003.html

 

[ga. prime]

The recession is over sometime this summer. Maybe this month, maybe next. It's over. Get with the program.

 

[grannysoo]

And another from the WSJ:

The U.S. housing market is facing new downward pressure as holders of subprime-mortgage bonds flood the market with foreclosed homes at prices that are much lower than where many banks are willing to sell.

http://online.wsj.com/article/SB124709571378614945.html

 

[HerefordSire]

And another from the WSJ:

The U.S. housing market is facing new downward pressure as holders of subprime-mortgage bonds flood the market with foreclosed homes at prices that are much lower than where many banks are willing to sell.

http://online.wsj.com/article/SB124709571378614945.html

July 7th was a lunar eclipse (as in lunatic). It was not a blood moon but there will be a total of four lunar eclipses this year which rarely happen. Over 100 years ago is reportedly the last occurance. Also, there will be a solar eclipse on July 22nd and a lunar eclipse in the first of Auguest, maybe the 6th? Usually, markets and jails are dangerous places to be if you are on the wrong side (of the bars). Has to do with electro-magnetic energy fluctuations combining with mass brain energy.

 

[grannysoo]

And another from the WSJ:

The U.S. housing market is facing new downward pressure as holders of subprime-mortgage bonds flood the market with foreclosed homes at prices that are much lower than where many banks are willing to sell.

http://online.wsj.com/article/SB124709571378614945.html

July 7th was a lunar eclipse (as in lunatic). It was not a blood moon but there will be a total of four lunar eclipses this year which rarely happen. Over 100 years ago is reportedly the last occurance. Also, there will be a solar eclipse on July 22nd and a lunar eclipse in the first of Auguest, maybe the 6th? Usually, markets and jails are dangerous places to be if you are on the wrong side (of the bars). Has to do with electro-magnetic energy fluctuations combining with mass brain energy.

I don't understand the hows and whys of planet alignments or understand the gravitational forces that the moon exerts on the oceans/tides, I don't understand why the farmers almanac works, and I sure don't understand why the emergency rooms are always full when it's a full moon either. But I do believe a place can be dangerous if you are on the wrong side of the pull...

 

[Brandonm22]

The recession is over sometime this summer. Maybe this month, maybe next. It's over. Get with the program.

I would like to believe that you are right but that is the minority opinion.

The IMF is predicting that this year will be the worst economically since the 1940s.

"Earlier in the week, the 186-nation International Monetary Fund released an updated economic forecast, predicting that the global economy will shrink 1.4 percent this year, the worst performance in the post-World War II period. That forecast was slightly worse than the 1.3 percent decline the IMF predicted in April."

Even Barack Hussein Obama is not optimistic about the near term:

"L'AQUILA, Italy – Lasting worldwide recovery "is still a ways off," President Barack Obama declared Friday, but he also said at the conclusion of a global summit that a disastrous economic collapse apparently has been averted.

Obama said world leaders had taken significant measures to address economic, environmental and global security issues.

"Reckless actions by a few have fueled a recession that spans the globe," Obama said of the meltdown that began in the United States with a tumble in housing prices and drastic slowing of business lending. The downturn now threatens superpowers and emerging nations alike.

Obama urged national leaders to unite behind a global recovery plan that includes stricter financial regulation and sustained stimulus spending.

"The only way forward is through shared and persistent effort to combat threats to our peace, our peace, our prosperity and our common humanity wherever they may exist. None of this will be easy," Obama told a news conference at the end of the Group of Eight summit of major economic powers."

http://news.yahoo.com/s/ap/20090710/ap_ ... /obama_135

 

[Ryder]

The recession is over sometime this summer. Maybe this month, maybe next. It's over. Get with the program.

Sure looks to me like the stock market rally has topped out. We will know in the fullness of time. If it has topped out then the next leg down is coming. I don't see a recovery any time soon reflected in the market.

 

[Alberta farmer]

Maybe I'm a pessimist or something? All the big shots in the banking world and stock market gurus seem to think good times are right around the corner! However I keep seeing businesses in trouble, people losing their jobs or having a reduction in hours, governments going deeper into debt.
I don't know if that is everywhere or just here where the oil patch has basically shut down? I see guys losing everything they've worked for all their life in the matter of a year or two!
Now I'm not sure about the USA but we have had a very poor government up here(both federally and provincially). They have been like a bunch of drunken sailors on shore leave with spending. Now they are trying to blame the recession(depression) for all their problems but the fact is they blew the savings by frivoulous spending! And continue to do so at a fast pace. They bailed out GM and Chrysler when they should have let them go down. They have a great stymulus idea...borrow money to build new hockey rinks in every town...the bloody idiots!

 

[kerley]

Sounds very familiar to me, you just left out the corruption, drinking and whoring around.
Tom.

 

[grannysoo]

The recession is over sometime this summer. Maybe this month, maybe next. It's over. Get with the program.

I would like to believe that you are right but that is the minority opinion.

I do believe that ga. prime had a cheekful of tongue when saying this... :lol2:

 

[grannysoo]

Oops.... sorry. Everything is back to normal now. No more worries:

July 11 (Bloomberg) -- President Barack Obama said his $787 billion stimulus bill "has worked as intended" as he pushed back against Republican criticism that his recovery program has failed to rescue the economy.

http://www.bloomberg.com/apps/news?pid= ... StZd9y2rCY

 

[Ryder]

Oops.... sorry. Everything is back to normal now. No more worries:

July 11 (Bloomberg) -- President Barack Obama said his $787 billion stimulus bill "has worked as intended" as he pushed back against Republican criticism that his recovery program has failed to rescue the economy.

http://www.bloomberg.com/apps/news?pid= ... StZd9y2rCY

THAT certainly makes me feel a lot better. :clap: :clap:
I knew change was on the way.

 

[1982vett]

"Reckless actions by a few have fueled a recession that spans the globe," Obama said.....

And stupid actions and expectations of the masses didn't help either. Nor did actions and inactions of our leaders, of which he himself as a Senator was in that catagory.

 

[Brandonm22]

Maybe I'm a pessimist or something? All the big shots in the banking world and stock market gurus seem to think good times are right around the corner! However I keep seeing businesses in trouble, people losing their jobs or having a reduction in hours, governments going deeper into debt.
I don't know if that is everywhere or just here where the oil patch has basically shut down? I see guys losing everything they've worked for all their life in the matter of a year or two!

I am in ALabama which is pretty much a sideshow in the macroeconomic world and I personally know at least 5 folks who were "millionaires" 3 years ago who have lost it all. We sold 58 acres of cow pasture (and he bought another 120 off neighbors) to a guy in 01 to build houses. He lost it all to the bank (their market cap is 15% of what it was 2 years ago). I still see him occasionally at Lowe's where his dad sends him to 'gofor' stuff. He just waves and keeps walking, the Landrover is gone, the fancy clothes are gone, the big beach house in FL is gone, and he had to sell his brokerage to his top agent

 

[TheBullLady]

Let's face it.. think about how much things have changed in the past 30 years! It seems as if the things that the older generation found important (INTEGRITY, honesty, hard work, helping others.. etc. etc) are no longer important. People expect the government and others to "bail" them out when they have trouble.. when did that change? When I screwed up, I paid for it! But guess what? It made me better prepared to make my way in life. Kids have little or no ambition, because mom / dad / grandparents whatever will take care of them. What do they learn that way? The same thing the government is doing now. And I agree, they should NEVER have bailed out anyone that was facing bankruptcy.

As far as foreclosures.. yes, they will get MUCH worse. You hear all this stuff on the news media about interest rates lowest they've been in years.. money for first time buyers, etc. But guess what? If you don't have a JOB, it's hard to get a mortgage! And values will continue to drop, as appraisers are very afraid of valuing any property too high... which is a big change from last year.

It's a bad situation, and who knows what is going to happen. I still have ranch buyers, but they could disappear tomorrow. And I think people are finally figuring out that land is one of the best investments you can make.

 

[grannysoo]

Did you see on the news over the weekend that Barney is wanting to relax lending standards, AGAIN???

 

[john250]

But guess what? If you don't have a JOB, it's hard to get a mortgage!

Did you see on the news over the weekend that Barney is wanting to relax lending standards, AGAIN???

The way I see it, "problem solved". I love the new order.

 

[TexasBred]

Let's face it.. think about how much things have changed in the past 30 years! It seems as if the things that the older generation found important (INTEGRITY, honesty, hard work, helping others.. etc. etc) are no longer important. People expect the government and others to "bail" them out when they have trouble.. when did that change? When I screwed up, I paid for it! But guess what? It made me better prepared to make my way in life. Kids have little or no ambition, because mom / dad / grandparents whatever will take care of them. What do they learn that way? The same thing the government is doing now. And I agree, they should NEVER have bailed out anyone that was facing bankruptcy.

As far as foreclosures.. yes, they will get MUCH worse. You hear all this stuff on the news media about interest rates lowest they've been in years.. money for first time buyers, etc. But guess what? If you don't have a JOB, it's hard to get a mortgage! And values will continue to drop, as appraisers are very afraid of valuing any property too high... which is a big change from last year.
It's a bad situation, and who knows what is going to happen. I still have ranch buyers, but they could disappear tomorrow. And I think people are finally figuring out that land is one of the best investments you can make.

And that's the way it should be and when I was in the mortgage lending business it was that way. You qualified for a loan...nobody owed you anything especially a house and a free ride. Appraisers should not even know the selling price of a piece of property when they go to appraise it.That totally defeats the very definition of an appraisal. Our delinquences (30 days past due) probably ran less than .5% and we didnt' haverage one foreclosure a year.

 

[Brandonm22]

Did you see on the news over the weekend that Barney is wanting to relax lending standards, AGAIN???

They have to. That core group of Democrat voters doesn't have the dicipline to save a 20% down payment and a lot of them have jobs and businesses (I am using those two terms loosely) that don't file an accurate W2 or 1099s. And of course, banks, realtors, builders, developers, etc are for $0 down because U.S. gov owns 80-90% of the mortgage market now. Nobody is risking anything but the borrower, the taxpayer, and the treasury bond buyer.

 

[grannysoo]

I am in ALabama which is pretty much a sideshow in the macroeconomic world and I personally know at least 5 folks who were "millionaires" 3 years ago who have lost it all. We sold 58 acres of cow pasture (and he bought another 120 off neighbors) to a guy in 01 to build houses. He lost it all to the bank (their market cap is 15% of what it was 2 years ago). I still see him occasionally at Lowe's where his dad sends him to 'gofor' stuff. He just waves and keeps walking, the Landrover is gone, the fancy clothes are gone, the big beach house in FL is gone, and he had to sell his brokerage to his top agent

A lot of that in small town Georgia too. Things were going fine as long as the banks were lending and houses could built and sold. The money from our local banks has dried up, and we see many real estate developers going belly up. There will be more of these to come.

A couple of the local banks now have property listed for sale on their own websites. Seems that the banks are now in the property business from all of the foreclosures.