Ka-friggin-boom!
Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.
Posted on 10/16/2009 4:05:26 PM PDT by BobMcCartyWrites
Describing it as a developing story, Fox News Channel’s Bret Baier just reported that President Barack Obama was briefed today about “the next big financial shoe to drop” — commercial real estate. It dovetails perfectly with what I reported nine months ago in a post, Trendwatcher: ‘Crash of ‘09? Will Be Worst Ever", and portends of more radical financial shenanigans — bailouts, stimulus packages, etc. — coming out of Washington, D.C.
In that post, I cited the bold predictions made by Gerald Celente, founder of the Trends Research Institute, who tracks all kinds of trends, including the economy. During an appearance on The Glenn Beck Show Feb. 10, Celente made the bold prediction that an upcoming “Crash of 2009? is going to be worse than the Crash of ‘29 — and worse than any crash before.
While seeking more detailed information about Celente, I found a two-part recording of an appearance he made on Los Angeles radio station KFI-AM 640’s John and Ken Show Feb. 6. Below are the highlights — or, in reality, the lowlights — that lie ahead, according to Celente:
* The commercial real estate market will collapse;
* People will be unable to pay their credit cards;
* Crime will increase as people who feel they have nothing left to lose will begin to commit acts of violence;
* People will begin to revolt against taxes; and
* We’re going into a depression, not a recession.
Listen to the entire interview by clicking on these video links: Part One and Part Two.
Buckle up, America! Looks like we’re in for a bumpy ride.
Gerald Celente has been a frequent guest on Coast to Coast AM with George Noory, and has been making the commericial real estate crash claim for about three years now. He may be right, but his dire claims aren’t something new.
Ka-friggin-boom!
As I perused the post I was thinking, “This guy needs to listen to Gerald Celente.” Then I clicked on your video. :)
Will this be before or after the second mortgage debacle on over-appraised homes is discussed and addressed?
Yeah, I’ve been getting Seeking alpha alerts for a couple years now. This has already taken longer to come than many expected, but It was the above the fold story in the Seattle times today (about Seattle commercial in particular).
It’s finally unfolding as the doomers said it would. They didn’t time it precisely, but they were not all that far off either. The big question is, will it actually have more impact than the residential RE collapse?
Commercial real estate has already been marked down 50% by everyone, before any sales or refinancings even happen. So it is already baked into the pie.
So Bob...given that you can forecast the market so well...you can make a killing selling short. Please give us the details...
Yes, Gerald has been making that claim for years, it’s about time everyone else caught up! I believe SAVAGE made the same claim and others did as well, months and months and months ago, this is nothing new for those of us who stay informed!
I think I may have finally figured out where I’ve seen you before...”The Village People”?
There are many more, and more timely Celente video’s now.
The more they promote this kind of nonsense, the more likely it is to happen.
Celente’s time table is off. He admits that. Not to detract from his trends analysis and prediction, he is stumped by the fact that the American people are very patient compared to the European farmers and workers who would be in the streets by now. He also points out that many of his predictions are delayed because the government and Wall Street are using very creative financial schemes to delay the inevitable. This is the “wild card” in his analysis. Good news for us, is the delay means we have more time to prepare our family, street and small town for the coming crisis (think Sarah Connors, John Connors, now it is our chance freepers to be the heros of the future). Remember, when Western Rome fell, alot of average Roman foot soldiers who would have died as nobodies became the new feudal lords that protected the locals.
I didn’t predict it, Drango. Celente did. Ask him.
Your choice of words leads be to question the depth of your understanding of commercial real estate financing.
“I saw my first shrinkwraped condo building in Seattle last month. “
Are you sure that wasn’t Christo at work?
I understand the "gay" lifestyle leads to a lot of anonymous liaisons, boylayer. But I ain't one of 'em.
Straighten up and fly right.
With this forecast, what is the best way to capitalize on this? Which stock/s? Which funds?
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