Thursday, January 29, 2009
Famed Forecaster Predicts Collapse, Recommends Gold
Famed future trend forecaster Gerald Calente was recently interviewed by libertarian economics writer Lew Rockwell. Calente said:
- We are going from the "Panic of '08" into the "Collapse of '09", and it is unstoppable. It will be the greatest depression ever
- In the middle of February or March, there will be disastrous collapses of other retail giants
- There will be a collapse in commercial real estate which will dwarf the subprime problem
- Wall Street has hijacked Washington
- Those in the know aren't trying to save the economy. The ship is sinking, and the wealthy are just scrambling to secure their own life boats
- There will be a revolt in this county, and the government is planning on ways of supressing it. For example, Arizona is training police for economic calamity and riots. The military is building detention centers, and training military for riot control. There's no stopping this
- The Obama administration will take draconian measures, such as calling a bank holiday, confiscating gold, or something else dramatic which will really hurt the little people and enrich the too-big-to-fails
- The only way we will get out of this economic mess is to rebuilt manufacturing base. The depression will go on and on unless we build a manufacturing base. He hopes this will be in the form of some new, very high-tech energy source - something way beyond solar or wind. [Note: I have had the same gut feeling for some time. Specifically, I have the hunch that the best way to get out of this depression is a huge energy break-through using a high-tech, clean source of energy. Physicists and engineers may be able to get us out of this mess.]
- Calente recommends buying gold, and having some cash on hand and out of the bank
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When you add up all the things you know are out there and even without speculating about what you think is out there, you have to agree with Calente. With wave two and three of the residential mortgage foreclosures about to hit, the beginning of the commercial real estate market collapse, the bankruptcies of large corporations , the huge unemployment increases, you cannot come to any other conclusion.
ReplyDeleteManufacturing base is the answer, It probably doesn't take some great new invention. It takes good jobs at good pay building stuff people want to buy. Electric cars, mass transportation, health care, a stable grid , all stuff we have done well in the past
It makes sense... Unfortunately...gr
ReplyDeleteI predict that at the end of the day, once a real depression sets in and riots and martial law ensue, a fascist, religious dictatorship will control the U.S. It may take several years to develop, but, ultimately (and saddeningly), every principle of our Constitution will be repudiated as a Protestant and Republican form of government. Oppression will come to our great land which has been wrecked by the financial and political irresponsibility and manipulative control of the global power elite.
ReplyDeleteI can see the fascist part , but I don't see the religious part. There are too many religious factions in the country for any one to take control. You don't think there could be religious wars internally for control of the country? Do YOU? There are quite a few predictors out there saying there will be serious civil unrest starting sometime this spring or summer. I really don't care what label you put on whatever will get us out of this mess, right now long pain is the only cure I see.
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