The Greatest Depression (Ultimate Doom and Gloom)

Howe Street ^ | 12/24/08 | Gerald Celente

[ovrtaxt]

Do you do any farming? I’m thinking worst case, a chicken coop, some rabbits, some gardening...

[Lazamataz]

There's no point in trying to farm. There will be no land left. No water. No sun.

Just hordes and hordes of zombies.

[dennisw]

Righteous ping! I hear Celente all the time on radio shows. His voice is frantic and gets you very concerned and worried

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[dennisw]

Only when the tide goes out, can you see who’s been swimming naked -- Warren Buffet

[JustDoItAlways]

If the doom and gloom business prognoticators are right about the coming depression and asset-value deflation (more asset values than CPI deflation) and they called part 1 and part 2 right so far, ...

... then the only place to put your money in is very safe government bonds. Deflation will give you a reasonable real return at a time when other asset values are declining.

They are also saying buy gold but that does not seem safe to me. Gold is part commodity and part financial instrument and has been counter-cyclical in the past. But one never knows which component is going to be driving the bus at any one time or which way that bus is going to be steered.

[CottonBall]

... then the only place to put your money in is very safe government bonds. Deflation will give you a reasonable real return at a time when other asset values are declining.

They are also saying buy gold but that does not seem safe to me. Gold is part commodity and part financial instrument and has been counter-cyclical in the past. But one never knows which component is going to be driving the bus at any one time or which way that bus is going to be steered.

I don't know if he said it in this interview (yes, I am doing the unthinkable and posting without listening to the interview. I would read an article, but I find audio annoying - plus I've heard numerous interviews of his already) - but he is predicting hyperinflation. 'Stagflation', acutally, where there is huge inflation but also wages stagnated. He thinks the dollar will be worth 10% of what it is now. Hence the advice to buy gold.

I hope he is wrong.

[Lurker]

I've always been a big believer in silver myself.

Granted it doesn't have the purchasing power of gold, but it'll be far easier to trade I think.

We've got 7 or 8 pounds of pre-1964 coins put back as well as a decent size stash of silver rounds.

We've got a big of gold, but it's nearly impossible to find now and when you do the price is out of sight.

Of course we also in vest in base metals like brass, copper, and lead.

BICSID.

L

[ovrtaxt]

Then I’ll open up a fast-brains restaurant. Zombies gotta eat too...

[Lazamataz]

The Zombie economy has collapsed too.

They're all gonna die.

Oh, wait.

[Lorianne]

Thanks for posting this.

Expect the best, prepare for the worst.

[CottonBall]

Of course we also in vest in base metals like brass, copper, and lead.

;)

[Lurker]

They're all gonna die.

Not again...

L

[Jim Noble]

I've been sharpening hoes and spades since the summer. I replaced the stairs with rope ladders.

I'm ready.

[Abigail Adams]

Come on...Can’t we have an intelligent conversation here about the economy?

[Beowulf9]

Look on the bright side. The Depression of 29 fostered some of the greatest songs I’ve ever heard. Maybe it’ll dump all the current crap music and bring back talent.

Buddy can you spare a dime.

[Lazamataz]

Come on...Can’t we have an intelligent conversation here about the economy?

*YOU* can.

*I* can't.

[dennisw]

... then the only place to put your money in is very safe government bonds. Deflation will give you a reasonable real return at a time when other asset values are declining.

They are also saying buy gold but that does not seem safe to me. Gold is part commodity and part financial instrument and has been counter-cyclical in the past. But one never knows which component is going to be driving the bus at any one time or which way that bus is going to be steered.

I like gold but there are deflation gurus such as Martin Weiss who say TBills are king in a deflation. Or a solid TBills only money mkt fund

Deflation and commodity crash hit last August.
Since then TBills beat gold

[dennisw]

One of the best deflation briefings. Strong dollar and deflation

http://www.moneyandmarkets.com/gala-issue-biggest-sea-change-of-our-lifetime-3-28912

[Dustbunny]

Wow, this guy is good. Only thing he failed to mention was that the housing bubble bomb was started by Jimmy Carter, added to by Bill Clinton and finished up with the Barney Frank, Dodd etc.. When Schumer started the bank run I said then that I thought this was a plan.

I still thing this crash was planned by the Democrats. It is now out of hand and they are running scared, hence all the bailouts in an attempt to cover-up the mess. Unfortunately it is much to late for that to work.

[Dustbunny]

Have emailed the link to everyone we know.