Posted on 09/13/2009 4:11:03 PM PDT by Para-Ord.45
Investment banker turned author, John Talbott, is accusing big business of bribery and predicts another crash is just around the corner.
Any signs of economic recovery being seen around the world are due to huge stimulus packages, which will only prop up economies for about a year.
"Where is the consumption demand going to come from to drive the local economies?" he asks.
"I can tell you it's not going to come from US consumers any more - they are tapped out."
Crippling debt, high unemployment and the retirement of baby boomers means people's ability to spend will diminish.
"Stimulus (packages) around the world are a mistake because if government could create jobs we wouldn't need private enterprise," he said.
"I mean if all you had to do was go and spend a trillion dollars as a government we'd never have recessions, depressions and the greatest socialist countries in the world would be the richest - but just the opposite is true...
(Excerpt) Read more at news.com.au ...
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As a matter of fact, I wouldn’t be surprised if a crash starts on Monday, because of some indicators that I watch. We’ll see.
The only indicator you need is the ability to add and subtract.
It’s also good to keep in mind that a crash may not be related to the price of the DOW. One good barometer would be the price of gold, oil or other commodities.
Good grief... is there anything (bubble) that has not burst?
I find myself watching the Cubes (QQQQ) these days. The Dow is important because so many news services headline it, but it’s not a very good indicator of how the broad market is doing.
“It’s also good to keep in mind that a crash may not be related to the price of the DOW. One good barometer would be the price of gold, oil or other commodities.”
Sorry for the stupid question, but what do you mean exactly?
If the commodity prices start to tank, that is the start of the crash or if they go up fast?
Can youse guys give me another week, please? I gotta move some money ........... FRegards
Well, if gas went to $20/gallon wouldn't that feel like a crash? (And in that scenario the price of the DOW could go to record highs at the same time - because a dollar is worth less).
From the sound of things on this thread, I'd probably be moving it sooner rather than later.
Well, of course I don’t KNOW what will happen, or I’d be richer than George Soros.
OK, so I better get more gold and silver.
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