Celente Predicts Super Depression in 2012

[grannysoo]

Gerald Celente has been right on track with many of his predictions. Read the articles/links below. He's even predicting tax revolts & violence. Very interesting read...

http://www.examiner.com/x-1087-Denver-N ... ssion-2012

Trend forecaster Gerald Celente has been getting a lot of attention lately. He has a pretty good track record, having predicted the crash of '87, the rise of Starbucks, the bail out frenzy, among others. Now he's forecasting a super-depression come 2012. I first came across Mr. Celente's doomsday predictions a few months back. In November I did a post that challenged his predictions. I agreed that we had serious problems, but I was much more confident that we would recognize and reverse the situation before it got ridiculous. Now, I'm beginning to think Mr. Celente's predictions of total financial breakdown by 2012 might be overly optimistic. Given the events of the last 3 months, I don't know if we can continue to fake it for three more years.


For a question/answer session, check this out:

http://www.russiatoday.com/Politics/200 ... ever_.html

 

[Ryder]

I have heard Celente a couple of times on the radio. I don't know much about him, but what he says makes sense to me. But, like you, I have my doubts about making it three years. Things are happening awfully fast.

Not long back some few of us would predict a depression and responses would be ,"Oh yes, there will be another depression. But not in my life time".
And about a banking collapse, " No problem. The big banks will buy up the little banks and everything will be OK". :dunce:

People like us were dismissed as being doom and gloomers.
And now where are they? Guess they are optimistically waiting for the change that is on the way. :help:

 

[HerefordSire]

The scariest thing about the entire economy is.....

MOST OF THE GARBAGE IS STILL ON THE BOOKS OF THE FINANCIAL INSTITUTIONS ACROSS THE GLOBE.

Something struck me the other day....what we are witnessing in the last couple of years relative to 40-200 years ago, and in between, is like a spiral. The outer edges of the spiral are getting tighter and tighter each revolution. For something to seem like a cycle, to recur over and over and over, the events happens very quickly these days relative to the beginning of the spiral. Picture a tornado funnel or a cone or a spiral. We are close to the bottom of the spiral where one revolution happens very fast. My head is spinning.

 

[mnmtranching]

If you want to get into this prediction stuff. Try find information on the thousands of predictions that turned out wrong or opposite. Kind of hard to get that information, media has a hard time getting peoples attention to all the fine print. :cowboy:

 

[Alberta farmer]

I often wonder how people will react if we get into a deep depression? In the great depression people didn't rise up and rebel in a big way against the system...not so sure how they would react today?
My parents grew up in the depression and I think they never forgot the hard times and they always impressed on their children the need to be frugal, work hard and save for a rainy day. I think that left a lasting impression on us but being baby boomers we had it all! I think the baby boomers own children grew up expecting everything was possible? How do they deal with a system that lets them down?
Lets face it, when you can't feed your family and you see the fat cats(who caused the problem) living high on the hog, how happy will you be? I suspect this time they won't line up at the soup lines and trot off to the public work camps! Maybe rebellion and revolution? And frankly, if that happens, I won't blame them.

 

[grannysoo]

If you want to get into this prediction stuff. Try find information on the thousands of predictions that turned out wrong or opposite. Kind of hard to get that information, media has a hard time getting peoples attention to all the fine print. :cowboy:

So....... let's forget about predictions and get more information on what is coming right from one of the industry sources:

http://retailtrafficmag.com/charts/comm ... high-0609/

This is discussing the defaults that are doming in the commercial mortgage market.

Don't think that money is going to get any easier to borrow.

This party hasn't even warmed up yet.

And please don't think that I'm doom and gloom, for I am not. I am however a realist and hope that everyone else understands that our economy is in TOUGH times for years to come. As a result of these times, you need to make your own personal decisions as to what you should do to prepare.

 

[grannysoo]

More info that might be enlightening...

How about the possibility of a "bank holiday"?

http://www.globalresearch.ca/index.php? ... &aid=14077

 

[HerefordSire]

I often wonder how people will react if we get into a deep depression? In the great depression people didn't rise up and rebel in a big way against the system...not so sure how they would react today?
My parents grew up in the depression and I think they never forgot the hard times and they always impressed on their children the need to be frugal, work hard and save for a rainy day. I think that left a lasting impression on us but being baby boomers we had it all! I think the baby boomers own children grew up expecting everything was possible? How do they deal with a system that lets them down?
Lets face it, when you can't feed your family and you see the fat cats(who caused the problem) living high on the hog, how happy will you be? I suspect this time they won't line up at the soup lines and trot off to the public work camps! Maybe rebellion and revolution? And frankly, if that happens, I won't blame them.

The way we got out of the last one was WWII. By studying history, wars are usually created as the result of not enough people having enough food to eat.

 

[grannysoo]

Another interesting take on the financial situations. The stock markets have dropped over 500 points since this story came out.

These are more opinions on the current US financial situation:

http://www.gather.com/viewArticle.ac...81474977719393

If you were worried before...
June 23, 2009 01:42 PM EDT (Updated: June 23, 2009 01:50 PM EDT)

It's now time to panic!

A couple of weeks ago I posted a story about a couple of Japanese businessmen who were arrested at the Italian/Swiss border while trying to smuggle $134-BILLION in U.S. Treasury notes across the border. This was ignored by the American main stream media.

The U.S. Government tried to tell the world press that these were forgeries and fakes. If you believe that, I've got some great beachfront property near Phoenix and a fabulous bridge in New York you might be interested in buying...

http://www.ft.com/cms/s/0/82091ec2-5...44feabdc0.html

This is the single biggest farce I've heard about in a long time. Does anyone actually believe that anyone would be transiting a national border with $134 Billion in "fake" Bonds concealed in a suitcase with a fake bottom?

Does anyone actually believe Italian Authorities would ignore their own laws and release persons who violated Italian financial disclosure laws?

Does anyone really believe that a bank or other entity would simply accept a US Treasury "Intergovernmental" Bond with a face value of either $500 Million or $1 Billion without ever calling the US Treasury to determine if the bonds were valid?


The absurd explanation provided by the U.S. Government that the bonds were "fakes" would be laughable if it wasn't so pathetic.

Clearly the government of Japan got caught red handed trying to dump U.S. Treasury Bonds because they no longer trust that the USA can pay its debts.
Or they're worried about hyper-inflation of the US dollar, and they're trying to convert the bonds into euros ASAP.

http://www.gather.com/viewArticle.ac...81474977719393

When the issue blew up in their faces, everyone from Japan to Italy to the USA had to get together and lie about what was happening with the hope that other nations wouldn't start dumping U.S. Treasuries too.


That is precisely what happened. Anyone who says otherwise is either lying or stupid. . . . . or thinks we're stupid enough to believe them!


We have now entered the official "end game" for the United States Government. We are broke. Bankrupt. They have no hope of ever repaying their debts. Countries around the world know this and are starting to dump U.S. debt and U.S. currency because it will all become worthless very soon.

It's not about the doom and gloom. It's a matter of keeping your eyes open and preparing (however that may be) for the future of you and your family...

 

[HerefordSire]

More info that might be enlightening...

How about the possibility of a "bank holiday"?

http://www.globalresearch.ca/index.php? ... &aid=14077

I read another article similar to that one the other day and made a post of the content. Something funny is going on but I can't put my finger on it.

 

[backhoeboogie]

It's not about the doom and gloom. It's a matter of keeping your eyes open and preparing (however that may be) for the future of you and your family...

Yep!

 

[backhoeboogie]

I often wonder how people will react if we get into a deep depression? In the great depression people didn't rise up and rebel in a big way against the system...not so sure how they would react today?
My parents grew up in the depression and I think they never forgot the hard times and they always impressed on their children the need to be frugal, work hard and save for a rainy day. I think that left a lasting impression on us but being baby boomers we had it all! I think the baby boomers own children grew up expecting everything was possible? How do they deal with a system that lets them down?
Lets face it, when you can't feed your family and you see the fat cats(who caused the problem) living high on the hog, how happy will you be? I suspect this time they won't line up at the soup lines and trot off to the public work camps! Maybe rebellion and revolution? And frankly, if that happens, I won't blame them.

I'll blame them. I don't have a $400 I-phone and all the latest techno gadgets. I could pay cash for them if I wanted. It is hard for me to pity someone who throws it all away on new trucks every year, ski rigs, and every hi-tech toy you can imagine. Half their income goes to pay interest.

Right now I am paying for Californians who paid a half million dollars for a 1/4 acre spread and a house that would cost $100K here tops except no one would build one on the side of a sand cliff hill in the first place.

Where you go in life is where you put yourself. I didn't choose to be stupid and I invested. I aint "fat" or a "cat" but I did work two to three jobs most of my life and invested wisely at times. Lots of other folks were out playing golf or hitting the lakes on the weekends.

 

[TheBullLady]

Which is probably one of the biggest complaints of "working" people! I know I"m really tired of working and paying for all the entitlement programs so others can sit around and watch cable all day.. and go to the emergency room for primary health care.

 

[hillrancher]

Which is probably one of the biggest complaints of "working" people! I know I"m really tired of working and paying for all the entitlement programs so others can sit around and watch cable all day.. and go to the emergency room for primary health care.

BullLady, my feeling to a Tee. I have quit giving to the church or any organization that helps the lazes be lazier.

 

[Jogeephus]

Gov't has grown too big and has become too much to too many. Recently our radio station has been airing commercials about how bad tobacco is and this has been sponsored by a county SWAT unit. Then there are the ads for the services that you are "entitled" to. Then there is the $285,000 recently spent on bow flex equipment for the fat city fire fighters. $30,000 for a water trough and the list goes on.

I don't know if its this way in your area but it seems to me that all the money the feds are spending is being used to just prop up the existing governments rather than closing 2/3's of the positions that are not needed. I still don't think they get it.

 

[grannysoo]

I still don't think they get it.

They don't get it. They don't understand. The ones in government now never will.

Government is run by money. Big money. And, the money has absolutely corrupted government.

Read some of the articles and commentary going around and you'll see that there is a groundswell of resentment rising up. Where it will go, only time will tell...

 

[Alberta farmer]

I wasn't saying I would like to see revolution or rebellion, just the fact it could happen? Don't forget it was this present society and governments that have promoted the idea "You can have it all"!
I'm not going to apologize for what I've accomplished in my life. I worked hard, invested my assetts in things that made me more money and am in a fairly secure situation. I also know lots of young people who are not laze-abouts and are working hard trying to get ahead. How many young couples are working a couple of jobs trying to get the bills paid and raising a couple of kids? I would suggest the majority of them?
Don't forget in many ways things were a lot simpler 30 years ago. The old standard was a house shouldn't cost more than two years wages(for one bread earner) and the mortgage payment/utilities/property taxes shouldn't exceed 25% of take home pay(one bread earner)! How does that work today?
The average house in my area is right around $300K. A fixed mortgage is right around 6%. That means it takes $18K a year for the interest. Add on 3K for taxes, and another 4K for utilities and we are talking over $2000/month before paying any of the principle! How many young people can afford that without both of them working?
My wife stayed home with the kids. If I was short of money I found a way to make more. Not so easy when there is a depression and everything dries up? I consider myself lucky to be born at a time when you could get out and work hard and make a lot of money, and get ahead! It's getting harder all the time for young people to do that?...that's just my opinion.

 

[Brandonm22]

Roubini is pretty negative too. I read that he was predicting the Dow would fall below 5000 before rebounding. Jim Rogers (a Vietnam era Army vet from Demopolis, AL who cofounded the Dominion Group with George Soros in 1970 then became a financial tv guru) bugged out of NYCity for Singapore and invested in Brazilian farmland is predicting a massive currency crisis ~ next year and is recommending folks get out of cash. The economists Dick Morris quotes in his book, 'Catastrophe' seems to be nihilistic. Others aren't so negative and occasionally I hear somebody on TV (I am usually not really familiar with) who is actually bullish. I am not sure who to believe because I can't predict what this administration is going to do (I have been horrified to this point) or how Asia is going to react to what we do (they need to keep buying our bonds or we are short term "screwed").

 

[backhoeboogie]

I don't see how the current administration can keep from printing a lot of money, based on the gross spending. - Or how we can keep from hitting really high inflation rates. The retired folks and those on fixed incomes are likely scared to death. Especially those who remember the late 70's and early 80's.

Protecting your capital would involve investing it in something like the stock market but no one I know is investing much right now. I have bought some land this year and will buy more each time I am in the right place at the right time. My 401K has been in interest bearing accounts for nearly 2 years now and double digit inflation will decrease its value significantly. Luckily it was rolled out of stocks before the decline.

 

[Brandonm22]

I don't see how the current administration can keep from printing a lot of money, based on the gross spending. - Or how we can keep from hitting really high inflation rates. The retired folks and those on fixed incomes are likely scared to death. Especially those who remember the late 70's and early 80's.

If all we get is the 10 to 20% inflation of the 70s, I am going to be pretty pleased. If the Chinese stopped buying bonds, given the insane deficit spending we have seen from this administration, we will have to print $400 billion to a $trillion in new currency. If the world responded by dumping their reserves of U.S. dollars, you could see 12 to 36 months of 40, 50, 60% inflation. There are a lot of IFs in that scenario and if China priced us out of their export market how many Chinese lose their jobs??? Does THAT government want millions of unemployed in their streets? If you are the Chinese why not continue to pretend that the dollar is strong verses the yen and keep propping us up? I can see this playing out both ways. Either way, the key decision makers are increasingly overseas.