Posted on 05/20/2010 7:35:12 AM PDT by Neville72
Bob Chapman
First 6 months of 2010, Americans will continue to live in the 'unreality'…the period between July and October is when the financial fireworks will begin. The Fed will act unilaterally for its own survival irrespective of any political implications …(source is from insider at FED meetings). In the last quarter of the year we could even see Martial law, which is more likely for the first 6 months of 2011. The FDIC will collapse in September 2010. Commercial real estate is set to implode in 2010. Wall Street believes there is a 100% chance of crash in bond market, especially municipals sometime during 2010. The dollar will be devalued by the end of 2010.
Gerald Celente
Terrorist attacks and the "Crash of 2010". 40% devaluation at first = the greatest depression, worse than the Great Depression.
Igor Panarin
In the summer of 1998, based on classified data about the state of the U.S. economy and society supplied to him by fellow FAPSI analysts, Panarin forecast the probable disintegration of the USA into six parts in 2010 (at the end of June – start of July 2010, as he specified on 10 December 2000
Neithercorps
Have projected that the third and final stage of the economic collapse will begin sometime in 2010. Barring some kind of financial miracle, or the complete dissolution of the Federal Reserve, a snowballing implosion should become visible by the end of this year. The behavior of the Fed, along with that of the IMF seems to suggest that they are preparing for a focused collapse, peaking within weeks or months instead of years, and the most certain fall of the dollar.
Webbots
July and onward things get very strange. Revolution. Dollar dead by November 2010.
LEAP 20/20
2010 Outlook from a group of 25 European Economists with a 90% accuracy rating- We anticipate a sudden intensification of the crisis in the second half of 2010, caused by a double effect of a catching up of events which were temporarily « frozen » in the second half of 2009 and the impossibility of maintaining the palliative remedies of past years. There is a perfect (economic) storm coming within the global financial markets and inevitable pressure on interest rates in the U.S. The injection of zero-cost money into the Western banking system has failed to restart the economy. Despite zero-cost money, the system has stalled. It is slowly rolling over into the next big down wave, which in Elliott Wave terminology will be Super Cycle Wave Three, or in common language, "THE BIG ONE, WHERE WE ALL GO OVER THE FALLS TOGETHER."
Joseph Meyer
Forecasts on the economy. He sees the real estate market continuing to decline, and advised people to invest in precious metals and commodities, as well as keeping cash at home in a safe place in case of bank closures. The stock market, after peaking in March or April (around 10,850), will fall all the way down to somewhere between 2450 and 4125 during the next leg down.
Harry Dent (investor)
A very likely second crash by late 2010. The coming depression (starts around the summer of 2010). Dent sees the stock market–currently benefiting from upward momentum and peppier economic activity–headed for a very brief and pleasant run that could lift the Dow to the 10,700-11,500 range from its current level of about 10.090. But then, he sees the market running into a stone wall, which will be followed by a nasty stock market decline (starting in early March to late April) that could drive down the Dow later this year to 3,000-5,000, with his best guess about 3,800.
Richard Russell (Market Expert)
(from 2/3/10) says the bear market rally is in the process of breaking up and panic is on the way. He sees a full correction of the entire rise from the 2002 low of 7,286 to the bull market high of 14,164.53 set on October 9, 2007. The halfway level of retracement was 10,725. The total retracement was to 6,547.05 on March 9, 2009. He now sees the Dow falling to 7,286 and if that level does not hold, “I see it sinking to its 1980-82 area low of Dow 1,000.” The current action is the worst he has ever seen. (Bob Chapman says for Russell to make such a startling statement is unusual because he never cries wolf and is almost never wrong)
Niño Becerra (Professor of Economics)
Predicted in July 2007 that what was going to happen was that by mid 2010 there is going to be a crisis only comparable to the one in 1929. From October 2009 to May 2010 people will begin to see things are not working out the way the government thought. In May of 2010, the crisis starts with all its force and continues and strengthens throughout 2011. He accurately predicted the current recession and market crash to the month
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WALL STREET JOURNAL- (2/2010)
"You are witnessing a fundamental breakdown of the American dream, a systemic breakdown of our democracy and our capitalism, a breakdown driven by the blind insatiable greed of Wall Street: Dysfunctional government, insane markets, economy on the brink. Multiply that many times over and see a world in total disarray. Ignore it now, tomorrow will be too late."
Eric deCarbonnel
There is no precedence for the panic and chaos that will occur in 2010. The global food supply/demand picture has NEVER been so out of balance. The 2010 food crisis will rearrange economic, financial, and political order of the world, and those who aren’t prepared will suffer terrible losses…As the dollar loses most of its value, America's savings will be wiped out. The US service economy will disintegrate as consumer spending in real terms (ie: gold or other stable currencies) drops like a rock, bringing unemployment to levels exceeding the great depression. Public health services/programs will be cut back, as individuals will have no savings/credit/income to pay for medical care. Value of most investments will be wiped out. The US debt markets will freeze again, this time permanently. There will be no buyers except at the most drastic of firesale prices, and inflation will wipe away value before credit markets have any chance at recovery. The panic in 2010 will see the majority of derivatives end up worthless. Since global derivatives markets operate on the assumption of the continued stable value of the dollar and short term US debt, using derivatives to bet against the dollar is NOT a good idea. The panic in 2010 will see the majority of derivatives end up worthless. The dollar's collapse will rob US consumers of all purchasing power, and any investment depend on US consumption will lose most of its value.
Alpha-Omega Report (Trends Forecast)
Going into 2010, the trends seemed to lead nowhere or towards oblivion. Geo-politically, the Middle East was and is trending towards some sort of military clash, most likely by mid-year, but perhaps sooner…At the moment, it seems 2010 is shaping up to be a year of absolute chaos. We see trends for war between Israel and her neighbors that will shake every facet of human activity…In the event of war, we see all other societal trends being thoroughly disrupted…Iran will most likely shut off the flow of oil from the Persian Gulf. This will have immense consequences for the world’s economy.
Oil prices will skyrocket into the stratosphere and become so expensive that world’s economies will collapse..There are also trend indicators along economic lines that point to the potential for a total meltdown of the world’s financial system with major crisis points developing with the change of each quarter of the year. 2010 could be a meltdown year for the world’s economy, regardless of what goes on in the Middle East.
Robin Landry (Market Expert)
I believe we are headed to new market highs between 10780-11241 over the next few months. The most likely time frame for the top is the April-May area. Remember the evidence IMHO still says we are in a bear market rally with a major decline to follow once this rally ends.
LOL
Ping to read later
Excellent time to have a president that hates America ain’t it?
Let’s see now..ammo, guns, silver, food, water-—yep. Bring it on.
We bought our farm in Central Kentucky last year. Even got the $8,000 from our rich uncle Samuel. Last fall we moved from our five bedroom house in the Seattle area to a one bedroom condo across the street from my corporate offices (saving $1,000 a month). We sold most of what we had on Craigslist or at a garage sale. We kept the things of real value and family stuff and put it in a $70 a month storage unit.
Last month I notified the office of my vacation coming in the last two weeks of June. We’re renting a U-Haul truck for around $1,200 and driving our stuff to the farm that week and flying back up to Seattle. The only things left in our condo will be our old mattress and bed springs, our 32” tv and VCR, a couple of chairs and some plates and silverware.
I’m actively pursuing (via Monster) any job in my current trade (IT Business/systems Analysis) and am already getting a bunch of hits for the large cities in Kentucky, all within about 1.5 hours of our place, max.
When we bought that farm, things fell into place so amazingly that many people said it was a “God” thing. I was one of the last to come on board with that belief. But I did around the time the sale went through (we had agreed to buy it “on a handshake” in October of 2008). The way our plans have come together relative to how world events have played out is spooky. I didn’t even know about the $8,000 until the banker mentioned it to me while we were closing. :)
I have been predicting some of these events for a couple of years and all my friends have been laughing at me...I guess that was the underlying message to my comment...I hardly realized it as I typed.
After the first drop, and they did not believe me, ahead of time, they have been less sceptical.
I have been telling them I have “seen” a market number starting with “3”, I can’t blame them for wondering, but I did get calls last drop...”Is this it?”...
“No not yet” and they went right on investing.....I can not get them to even protect their profits. Pure GREED ?
I never thought I would live to see these times. Well, I am so old, maybe I won’t! now that is really LOL!
Personally I just think a sense of humor in the face of an insane world is a very valuable commodity that can’t be taken away.
>>So, the big question is: how many of those financial types (investors, market gurus) have heavy short positions on the market? That will be the big differentiator between fearmongers and real prophets.<<
This one is the spookiest considering the age of the prediction:
Igor Panarin
In the summer of 1998, based on classified data about the state of the U.S. economy and society supplied to him by fellow FAPSI analysts, Panarin forecast the probable disintegration of the USA into six parts in 2010 (at the end of June – start of July 2010, as he specified on 10 December 2000
You say this could not be foreseen, but actually many did. My wife was a real estate agent for a short time a few years ago. I was one for a couple of years before Y2K when the computer consulting rates became so stupid high that I went back into it.
One of the main reasons my wife got out was when she saw lending institution increase the "percentage of income" for a house payment to 50%. There was no doubt in our minds that it would flood the market with buyers and drain rentals, for everyone KNOWS the american dream is to own your own home. ;) Meanwhile, my wife and I, after owning for 20 years, started renting and now pay approximately 1/3 what it would cost to own the home we occupy. And I can bicycle commute the 8.4 miles to my office in Bellevue.
We also knew that this would certainly result in increased foreclosures down the road and a lot of hurt people. Little could we imagine that this was just the beginning of the "creative" steps that would be taken to inflate a credit bubble that would eventually bring down the economy of the entire industrialized world - along with a lot of wanna-be nations.
Yeah, I'm speaking of the near future there.
I, and several others were saying, back in Spring of 2006, that it was "possible" that this thing could be as bad or worse than the great depression. We were, of course, villified. We didn't necessarily believe it ourselves, but we knew that it was, in fact, a real risk. Well, now a day does not seem to go by where some statistic is quoted as "worst since the great depression". It is not just a bunch of spinners saying this. It is simply true and should not be ignored.
We are living in interesting times, but they are gonna get "interestinger".
Spooky, yes, but of all the predictions up there, the least likely to happen. The US isn’t going to split anytime soon, certainly not a month from now.
Rather than predicting what will happen, or when, it is far more important to discuss what *might* or *should* be done to give the country the fastest possible recovery.
1) Renounce the US National Debt. This has been done by other countries, and while it would kill a lot of our foreign trade, especially oil imports, except for commodities swaps, it would “reset” international economics. Most of the money invested in sovereign debt is “profits”, not core economic funds, so while this would be painful to just about everyone, it wouldn’t be catastrophic, and would begin a return to stability.
2) End all government largess to individuals. In the US, this means Social Security, Medicare, Medicaid, Obamacare, and a bunch of others. There was a final effort to return such programs to order some years ago, with “means testing”, which was rejected, so now we have to essentially end those programs abruptly.
3) Essentially, and I mean this especially to REPUBLICAN politicians, cutting off direct largess to individuals does NOT mean cutting off aid to the destitute. If they want to be heroes to the nation, they must distribute, through the States, what America has in abundance, to those in need.
The most important thing is food. America, even during the Great Depression, was overburdened with a huge surplus of food. Each year, hundreds or even thousands of tons of excess food rots. So for heaven’s sake, REPUBLICANS should insure that everybody who needs food gets it. Failing to do so promptly was one of the biggest reasons REPUBLICANS have been hated by many since the Great Depression. So REPUBLICANS should not make the same mistake again.
Another thing that the government can do much to help is housing. With a huge surplus of empty housing, vast numbers of Americans can be put into homes if need be. But this must be done intelligently. There must be time limits, and people will only get equity in their homes once they get jobs. But then they will get equity, which will encourage them to maintain their homes.
4) Currency reform. Right now, the Democrats are probably figuring on hyperinflating the currency, then periodically renumbering it, lopping off several zeroes, then hyperinflating it again.
A far more sensible approach would be to do the opposite, by restricting how electronic currency can be used for speculative purposes, to cause a serious deflation of cash. This could be done quickly with a 1 for 10 deflation, that is, a dime can buy what a dollar could buy. Then replace much of our coinage with plastic coins, as is done in Japan.
This would be very punitive to many reckless speculators, as there is not enough cash right now for them to swap for their electronic money, before the official deflation happened. So most billionaires would become “hundred millionaires” overnight. In truth, they would not lose anything, but they would not profit, either.
5) Credit reform. This means a return to the good old days of credit being only “for those who don’t need it.” Most people would still deal in debit, but credit cards would be few and far between.
6) Government reform. There is a whole lot of work needed here, and the federal government is unlikely to be able to do it itself, so the individual States should consider doing it for them. It will just be better for all concerned.
Isn’t it interesting that someone just stole 5 paintings, worth $600 million from a Paris museum? Experts are calling it “a hit list of the top 5 artists who mattered in the 20th century.” They’re confused because they don’t understand why anyone would steal them. They can’t really be sold on the black market because they’re so important to art history.
(Puts on tin-foil hat)
Preservation of important art by someone in the know?
(Takes off tin-foil hat)
The part that was spooky was the timing. ;)
BLOAT!
So let me ask opinions here: With the threat of hyperinflation and the inevitable crash of the dollar, would it be in our best interest to purchase a property (with acreage), or to remain mobile (renting)? We already have PM and food investments, but I really want our $$ out of cash. My thought would be that by jumping on the current low interest rates, hyperinflation would help us pay off debts faster. On the other hand, a sailboat and a secluded island sounds nice. (We have no debt right now....)
Good deal...sounds like a plan coming together.
For all you worried about Barry I wouldn’t be. You’re most pressing need will be to survive and, unless you have a death wish, that’ll consume all your waking hours. Barry, progressives etc will all be academic. Barry may huff and puff but in the event of a *real* emergency the fed will collapse under its own weight and incompetence. Perhaps state and local governments will still exist but I suspect if they’re heavy handed they too will be short for this earth. Frankly, if the predictions are correct it’ll be every man for himself. At any rate I really hope those predictions are very wrong b/c no one here will like the outcome.
But really .... Remember that lots of FReepers have Armageddon fantasies. They like the idea of holing up in their compound and living off the land and occasionally stopping their idyllic life to shoo away some itinerant liberals that come begging for help.
I think that the reality would be a whole lot less pleasant but that's just me. To each their own.
I'm worried enough about the possibilities advanced in this thread to be prepared, but not worried enough to lose any sleep. And, let me qualify this statement by saying that I was also prepared when the economy was rolling along and there weren't any problems at all.....
“Excellent time to have a president that hates America ain’t it?”
Never a good time ~ but need to be prepared either way.
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