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Old 05-24-2009, 07:38 AM
George Ellerman's Avatar
George Ellerman George Ellerman is offline
 
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Default The Great Depression of 2012 ?

Mr. Celente has some interesting views on what's to come:

http://www.infowars.com/celente-pred...lions-by-2012/
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Old 05-24-2009, 08:29 AM
Wendy Wendy is offline
 
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So apparently we middle class are all destined to become crack addicted squatters searching the dumps for food in 4 years.

Alrighty then.....
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Old 05-24-2009, 08:47 AM
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Mike Kennedy Mike Kennedy is offline
 
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http://www.youtube.com/watch?v=11iCm...eature=related
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Old 05-24-2009, 09:29 AM
Randolph Kinney Randolph Kinney is offline
 
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Gee, it appears people are anxious about the future. Not so many are confident that things will get better. That was before the election. After the election, people are anxious about the future. More people are loosing confidence that things are getting better.

But of course, there is always hope followed by change ... for the worse.
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Old 05-24-2009, 09:48 AM
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Jason Barber Jason Barber is offline
 
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Wow... could you imagine being at a dinner party with Peter Schiff and this Celente fellow. I think I would jab a fork in my eye.
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Old 05-24-2009, 09:53 AM
Ken B Ken B is offline
 
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The revolution will not be "militia in the streets" so much as the people rejecting the status quo and demanding that the government return to its Constitutional roots of being of the people and for the people. As the Republican Party continues its fear-mongering and the Democratic Party reveals its impotence and Socialist agenda, the people will reject both parties. A third party will gain favor. A party which is socially liberal and fiscally conservative. That third party is the Libertarian Party. The revolution will be bloodless, but true change will result.

This thread has a lifespan of less than 24 hours before being locked.

Those are MY predictions.
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Old 05-24-2009, 10:24 AM
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Terrel L. Shields Terrel L. Shields is offline
 
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Quote:
could you imagine being at a dinner party with Peter Schiff and this Celente fellow. I think I would jab a fork in my eye
An optimists viewpoint. A pessimist, like myself, would be comforted by such fellows. At least, it would be no shock if it happens and if it doesn't I would be delighted that it all turned out better than expected.

Does anyone think that in 1929 or even 1931 that people thought there would be a "depression"? That they had at least 7 more years of slow economic growth, low wages, and high unemployment?
In Arkansas during the 30's everyone had a garden yet food riots broke out. People died. My grandfather hated Roosevelt to his dying day for killing cattle and burying them when there were people in the community going hungry in 1933. They burned piles of wheat and corn to keep market prices up for export. In Russia, the Russians sold wheat for gold to build armaments and Russians, totally capable of producing their own food, staved by the 100's of thousands.
Anything can happen. And us? As Bill Bonner said in the book called "The Coming Soft Depression of the 21st Century", .."Americans celebrate their democratic freedoms by shuffling off to the voting booth. Then, they go back to doing as they are told." BTW, his book was written in 2003.
Quote:
A third party will gain favor
The Whigs never predicted their demise with the rise of the Republican Party in 1860.
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  #8  
Old 05-24-2009, 10:58 AM
Tom Woolford Tom Woolford is offline
 
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Quote:
Originally Posted by Jason Barber View Post
Wow... could you imagine being at a dinner party with Peter Schiff and this Celente fellow. I think I would jab a fork in my eye.

I'd pay money to see that.
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Old 05-24-2009, 11:19 AM
Randolph Kinney Randolph Kinney is offline
 
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If anyone doubts what is going to happen in the future, just follow events unfolding in California.

Quote:
Lawmakers sharpening their budget axes
by Willie Brown, Sunday, May 24, 2009

I was on the phone with state Assembly Speaker Karen Bass the other day, and I came away with the firm belief that she's going to move quickly to see that the state budget is enacted on time, by the end of June.

What's more, it's going to be all cuts. No one knows exactly what the cuts will be, but it's clear there will be no gimmicks, no tricks like trying to raise taxes by calling them "fees" that need only a simple majority vote instead of two-thirds.

It's going to be painful, but Bass is conducting herself extremely well. She's already called in all the special interests like the teachers union and the state workers union, and laid it out to them that she isn't going to tolerate attempts to threaten or bully Assembly members like they have in the past.

By the way - can you imagine being a union leader who opposed the budget measures on the special election ballot, and now you have to go to your members and say it appears that 4 of the 10 of you sitting here just lost your jobs?

This article appeared on page B - 1 of the San Francisco Chronicle
Those autoworkers are going to suffer the same fate.

If the budget deficits continue to grow for the US and interest rates rise in spite of the federal reserve buying US Treasuries, the election of 2010 is going to look like the ballot measure election in California followed by cuts in federal program spending. It's either cut spending to bring the budget under control or raise taxes on everyone.

As happened in California - raising the sales tax, double the car license plate tax, and raising income taxes - raising taxes brought in less revenue, not more, and unemployment jumped.
  #10  
Old 05-24-2009, 01:38 PM
John Hassler John Hassler is offline
 
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Quote:
Originally Posted by Randolph Kinney View Post
As happened in California - raising the sales tax, double the car license plate tax, and raising income taxes - raising taxes brought in less revenue, not more, and unemployment jumped.
For more on this here's a WSJ article from last week:

Soak the Rich, Lose the Rich
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