Skip to comments.GERALD CELENTE: The Financial Collapse Of 2013 Will Be Worse Than The Great Depression
Posted on 12/23/2012 6:15:04 AM PST by blam
click here to read article
I am sick of hearing about the coming “crash”, “recession”, “depression”, etc.
Zero liability voters will continue to vote liberal.
Talk about conflicting articles and views, I just saw an article that claims 2013 will be a year will amazing employment numbers.
Glass half full, half empty kind of world. Of maybe the media is schizophrenic?
While I like Gerald Celente, I don’t find this latest screed convincing. But, of course, he COULD be right.
Until the EBT cards all flash “ERROR.”
They they will vote to loot the stores, as in the image above.
Read “When the music stops: How America’s cities may explode in violence”
This a good approximation of what will happen when the EBT cards stop working:
I think US Treasury bonds are definitely a bubble in the classic sense. But the thing is that EVERYONE is in the same boat: the Japanese, the Europeans, and US. All the central banks that matter are printing like crazy and buying their own bonds with the $$. And the rest of the World depends on the Japanese, the Europeans, and US for their livelihood. So, the game will probably go on for some time. In fact, the US is likely to be the “last man standing” when the others collapse.
It will eventually end in disaster, but probably not in 2013.
No not everyone.
China is making virtually everything now.
China is doing just fine. Owning 50% of all the factories we use, to use Chinese employees to manufacture everything anymore.
How about we start paying attention to that.
I like Gerald but I’m still waiting for the crash/depression he predicted for 2012. I know the unemployment rate and inflation are higher than the government is saying but companies are making money and are flush with cash waiting to be spent.
“Talk about conflicting articles and views, I just saw an article that claims 2013 will be a year will amazing employment numbers.
Glass half full, half empty kind of world. Of maybe the media is schizophrenic?”
Depends on whether you think the numbers will be amazingly good or amazingly bad, I suppose.
The b.i. blog has a perfect track record, predicting 20 of the last 0 crashes.
That said, I’m sure they will be correct one of these days, maybe sooner rather than later.
And the rest of the World depends on the Japanese, the Europeans, and US for their livelihood.
That's true for the Chinese and, to a lesser extent, to the other BRIC members. Its also very true for any oil producing nation. The effect of our paper suddenly become worthless would be very devasting to them too. So they will play along and look the other way....for quite a while. Bernake and his ilk are fully leveraging the fact that the West and Japan has the rest of the World by the short hairs. But, as I said, it won't last forever. Something will break loose. I'm just not smart enough to know what or when--not sure anyone does. I just think 2013 is too early. My hunch, and that's all it is, is more like when Obama leaves office (~ 2017). That's when things will get REALLY interesting.
I imagine this is true for the "Financial Apocalypse Prediction" businesses, as well.
WHOA!!! WOW!!! That looks INTENSE!!!
Bratt Pitt or no, I’ll throw down a few dollars to see that next year.
It is time to bring back American jobs.
It is also time, to use our tax code, to make that decision profitable for companies ready to back production to America.
We are trillions in debt, yet we allow our own companies to offshore their operations and operate as if continental distinctions are non-existent.
That was a good idea, until it started ruining America.
Now we need to change that. Before we collapse.
Tax imports. Significantly.
With the implementation of Obamacare & higher taxes for virtually everybody, I believe the economy can’t do more than limp along at its current rate. That’s the most optimistic outlook. Business will take a while to adjust to the ‘new normal’.
I’m pretty tired of the prognostications of a coming crash myself. If everything is being manipulated, they will continue to do so. Japan has been at zero interest for a couple of decades, haven’t they? This could go on for years.
I think all the “ants” crawling up the building at 2:16 is fairly accurate as to how it will look when the stores shelves go empty.
I don’t think they grow any food inside the beltway, but you have to admit, they have some of the most efficient and prolific manure spreaders found anywhere.
How can anyone doubt that the U.S. will be a significantly different, and much worse, country AFTER the Obama tax increases take effect, AFTER the costly and euthanasia-promoting ObamaCare system starts meddling in everyone’s lives; AFTER the continued printing of dollars cheapens them to Weimar proportions?
After the Bush tax cuts went into effect, the Gross Domestic Product rose by more than five percent almost immediately. So when the Bush tax cuts end after the first of next year, what will prevent the GDP from going down a similar amount? A five-percent drop will mean a Depression, with a capital D, and that will mean trouble in River City.
Obama’s re-election assures us of at least a decade long economic depression. Better start rolling out the old WPA and CCC to give people government jobs raking leaves in the forest or painting murals on government buildings...that worked so well during the last Great Depression. I expect Obama will soon be using a cigarette holder and giving us fireside chats on the radio.
My internal projection, ~2015
GDP multiplier is dangerously close to 1
And M2 velocity,
The best single indicator of economic activity,
is still dropping
Anyone who thinks this is healthy is
They are building up resentments in other countries that will last for generations. I guess that's all right with them, as long as they keep profiting now.
Ultimately, the value of our bonds will be determined by the strength of our military. As long as we remain able to crush all opposition into dust, they will retain some value. When and if we lose the ability to directly influence world affairs, then some catalyst will occur - like the Fall of Taiwan - that will show the world once and for all that we are a paper tiger. Then, Obama will feel his "revenge" - many times over.
Like you, I think this is quite a few years off yet. Japan-style deflation without Japanese societal cohesiveness is our immediate future. Things will just keep gradually getting worse, as they have since 2006.
didn’t this prophet of doom lose his own gold at MF Global?
No truer words were ever put down. That said, at least it gives the rest of us an opportunity to plan ahead and try to minimize the damage for us and our famiies. It's going to be ugly and we need to know this and make sure we don't get caught napping.
A flamethrower might help,or some cratering charges dropped on the top of the pile.
Brad Pitt has been in a bunch of good movies. Fight Club, Seven, Kalifornia, Snatch, True Romance, 12 Monkeys, and Inglorious Bastards.
America needs to shift to a pro-American stance. 100%.
Bring back American jobs. Or operate elsewhere. As in, the American market is closed to you.
Ever heard of Kyle Bass? If not, Google him. He has actually MADE $$ from these various bubbles, and as such has more credibility than some others (like Peter Schiff or Rick Santelli). In any case, I urge you to give this video a watch. Its long, but extremely educational and compelling.
Ha, Ha, Ha, Ha
See my post #33
You got it. That's why some previous posters are not buying into the article as much as they should. There is no question that the government bond bubble (along with mortgage bonds) is going to collapse. The problem with zero rates is that they hollow out the economy and push money into speculative carry trade or commodities. The carry trade and commodity bubbles expand and contract with psychological factors and reaction from the Fed. When the final contraction comes, the Fed will be boxed in.
We have yet to see any real deflation or corresponding "money printing" for stimulating demand. All contraction so far has been in assets and money printing up to now is to buy bonds. The money printing buys government bonds and the politicians spend money to stimulate demand indirectly. But the politicians can also transfer money directly to people to buy votes. We have probably passed the point where we can fundamentally cut back the payments by greatly expanding the economy. But there will be minor expansions while politicians kick the can on reform.
You see sending our jobs to China as a good thing.
I see, bringing them back to America as a good thing.
I really don’t think anyone is smart enough to know when the collapse will come. But, yes, the farce will keep going for quite some time because ALL the Central Banks are playing the same game. The Powers-That-Wannabe all have the same fundamental goal: stave off social upheaval.
For the West (including Japan): Too much debt, too many promises, and too high a standard of living. Aside from Germany and Japan, there is not enough industry to provide a living for everyone. So the Government has a bigger and bigger role in employment and entitlements keep the rest of the population fed & docile. They play along because if there will be massive social upheaval if Government spending is actually cut to sustainable levels.
For the East (particularly China): They need to grow, so they need to export. They play along because the alternative is massive unemployment and, likewise, social upheaval. Also, even while its Monopoly $$, it helps them catch up with the West from a military/technological standpoint.
For the Oil Producers: They are in the same boat. The minute the petrol dollars stop, they will have to contend with their own restive poulations
The fundamental problem is that the Human race now produces enough to survive without everyone taking part in the workforce. While this is good in many ways, it also renders a lot of people .redundant. At the same time, we are also busy offshoring jobs so the necessities of life can be produced even more cheaply. All countries are trying to export excess goods to each other now in a race to the bottom. Improvements in technology and foreign education/work ethic have made this possible. As value-added jobs, Government has picked up the slack by employing more people and handing out ever increasing transfer payments to poor people. After all, we Westerners demand high living standards and we dont let people starve. While our credit was good, this created an illusion of normalcy (prosperity) for a long time, but illusions have limits. People are slowly waking up to the fact that Government can’t deliver all it promised. And, at this point, all but the stupidest politians will admit to themselves that its not working. Deficit spending is giving us increasingly diminishing returns, buying less & less stability today at the expense of anarchy tomorrow.
But they feel they have no choice. So, they all play along and accept increasing worthless currency to keep the Status Quo going—because no one can fathom what will happen when the music stops. Certainly riots—cities will burn and people will die. Perhaps even the start of a new Dark Age. So, we have condemned ourselves to a Zombie economy as long as our leaders will go to extraordinary lengths to maintain the facade.
Of course, the same people warned us to sell all our bonds and stocks in 2008, promising a 10-year collapse of the market. Took the market just four years to come almost all the way back. People who sold lost 2/3 of their money.
I’m thinking sometime around 15April2014 When all these Obamacare taxes kick in and must be paid.
Even the democrats know they've screwed up (for once), but they'll never admit it in public. They're trying to take over the Republican base (military and tax payers), so they can eventually rewrite history again and blame the Republicans for the welfare state.
That is one frightening chart!
I completely agree...it’s just that he appears to be a leftist and I really hate knowingly $upporting them in any way.
I completely agree...it’s just that he appears to be a leftist and I really hate knowingly $upporting them in any way.
Won't happen. The tax rate on business is way too high. The environmental laws are too oppressive, and there's threats of a carbon tax on top of that. A wise businessman would build in a lower taxed country without even thinking about it.
Then there's the cost of union labor. It's all too much. The profits just aren't here.
As long as our government keeps taking and taking - then wasting and wasting, that's not going to change. In fact, I think the Oboma administration is going to drive out even more businesses . If a business can escape - it will.
Heh heh, I’m waiting to see what what happens when the other shoe drops with china. All of these companies rushed to china to get in on the cheap labor gravy train, sold their souls and trade secrets to the communists, and in the process gave away the keys to the kingdom. What will we do when they start calling in all of those notes we’ve been floating them? Tell them no? They OWN our manfacturing capacity, they OWN all of the factories pumping out cheap consumer products, computers, auto parts, and almost all of the high tech products on the market today. The chinese will take all of those companies operating in china, and make them their own, and nobody will be able to do anything about it. It’s a brilliant plan really, and one that the communist chinese put into motion a long time ago, and they will thank the suckers (investors) for falling for it.
Well put. Good job. That's exactly what we're witnessing, and you put it into understandable terms.
(We have a false economy, but I've always found it hard to explain).
If he is a lib, at least he isn’t a vocally annoying one. (Sean Penn, Alec Baldwin, etc.)
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