Posted on 10/03/2009 8:33:18 AM PDT by blam
CAUTION: Stock Market Crash /Collapse Dead Ahead Say Faber, Rogers, Dent And Celente
Stock-Markets / Financial Crash
Oct 02, 2009 - 09:33 AM
By: Mac_Slavo
After a massive upswing in US stocks over the last six months, the recent rally may finally be coming to an end. It seems that the trend of rising stocks on bad or better than expected news may be in a reversal, as evidenced by market participants’ caution over the last couple of weeks. For those that follow contrarian investors like Marc Faber, Jim Rogers, Gerald Celente and Harry Dent, this should come as no surprise.
Marc Faber, publisher of the Gloom Boom & Doom Report, advised his subscribers and followers to take positions in US tech stocks, the banking sector and hard assets at the bottom of the markets in early March of 2006. However, he did provide a word of caution on March 16, 2009, making it known that while he was a short-term bull on stocks, that eventually, the economic fundamentals would catch up:
“probably a total collapse in the second half of the year when it becomes clear that the economy is a total disaster.”
[snip]
I stocked up on gold coins a while back, I’m going to purchase some silver rounds next.
I have good supply of firearms and lotsa ammo...
I have lost a bit of stock due a corporate bankruptcy.
I heard the dims this morning talking about another “bailout” only they wouldn’t call it that. The first one didn’t work, so their solution is to “throw good money after bad”. I guess all they know is how to spend OUR money!
LOL!
Post of the day!
Under Harvard’s golden boy, soon no one will be able to afford the ivy league schools. They can thank many of their former students for their future predicament.
Gerald Celente, Futurist Fraud
Written by Edward Champion
Written/posted November 13, 2008
The media — or, rather, FOX News and conservative websites — is listening to Celente because he “predicted” the 1997 currency crisis in Asia, the subprime mortgage disaster, and the dollar dipping south. But Infowars, a website run by paleoconservative radio show host Alex Jones, is basking in this dystopic news like an AIG executive riding high on Uncle Sam’s dime. What’s particularly strange is that Infowars hasn’t bothered to quibble with Celente’s statements, much less point to any of his inaccurate predictions.How does Celente do it? From Invest in Yourself by Mark Eisenson, Gerri Detweiler, and Nancy Castleman:
According to Gerald Celente, Director of the Trends Research Institute and author of Trends 2000, the key to tracking trends is to read two newspapers every day with a purpose — either The Wall Street Journal or The Financial Times, plus The New York Times or USA Today. Look for stories with social, economic, and political significance, be it about the difficulties older suburbs face or the current currency crisis. (You’ll know by the headline or the first paragraph.) Skip the stories that are purely human interest or that are about something that hasn’t happened yet (for example, a jury resuming deliberation on a sensational trial).Aside from the Dale Carnegie-style language here, much of Celente’s “suggestions” seem more like a series of guidelines on how to become a successful “futurist” predicting a good deal of generalist nonsense that scares the shit out of people, using language lifted from a newspaper story’s barebones and riding on a few hunches. Of course, it also helps to have an aesthetic touch — something along the lines of a desktop covered with 12 globes, just so you can impress a New York Times reporter who comes by to write a small profile. Since Infowars could not be bothered to perform even the most rudimentary act of journalism, the time has come to see if Celente’s record truly cuts the mustard.When a crisis does occur, tune in to the extra in-depth analyses that you’ll find in accompanying background pieces probably in more than one of the newspapers. Read them as though you’re a “political atheist,” Celente recommends — not for what you want or hope, but for what is really going on, not only in your own profession or industry, but for trends that may directly or indirectly shape the future.
Here you have a history of a man who not only makes his living spouting this generalist nonsense at corporations, but who is listened to by the media. If we weren’t all scared shitless, this wingnut would be chased out of boardrooms and newsrooms with pitchforks.
- In May 1993, in a story about fiftysomethings losing their jobs written for the Orange County Register, Celente was quoted. He was advising IBM at the time during a period of downsizing. What was Celente’s golden advice? He informed displaced executives to “go for some kind of counseling.” Asked to comment on this situation, Celente offered the same doom and gloom boilerplate that he’s telling us today: “The Industrial Age is ending. All the systems are breaking down and that means disappointment and disillusionment for the people who grew up in the ’50’s.” He elaborated, “These people believed in the Ozzie and Harriet way of life. That concept is dead. So is the concept of retiring at 65.” These were hardly prescient or specific thoughts, but they were certainly dramatic enough to make it into an Orange County newspaper.
- Why not get topical? Let’s take Celente on a more specialized subject like restaurants. In 1993, Celente predicted “growing demands for take-out food, high- and low-end restaurants, and restaurants that offer live entertainment. Middle-range restaurants with mainstream fare will suffer.” Aside from the fact that Celente’s prediction accounts for about 90% of restaurants, doesn’t the fact that human beings need to eat remain a comfy ledge to launch a prediction? In 1998, Celente told Money Magazine that, as the population grows older, “Americans will be spending more time at home than ever before both for pleasure and business.” Imagine that. You grow old, retire, and then you suddenly have more time. How the hell did Celente know?
- In the September 21, 2000 edition of Newsweek, the great futurist weighed in on mindless chores. Why are they called mindless? “Your mind can’t be going all the time.” And when any problem becomes bigger, it becomes bigger than burnout. “It’s road rage, it’s air rage, it’s Columbine, it’s stress — and people don’t get it.” I’m wondering if it’s also the kind of impulse that will cause you to make impetuous predictions about the United States’s future.
- Asked by CBS News in May 2005 to comment upon where Dillard’s planned to go, Celente had this to say: “There is nothing Dillard’s has that you can’t find in 1,000 other places. America is vastly overstored.” Take out “Dillard’s” and sub it in with another department store chain name, and you begin to see what little Celente’s remarks say. But if we’re in for a future of doom and gloom, Celente has been sending us some mixed messages. He told the Associated Press in May 2005, “The bottom of the luxury market is not going to fall out.”
- Talking with the Associated Press in September 2005, Celente suggested that Wal-Mart could deflect its negative image with its philanthropy. That’s hardly a stunning insight. Any positive action has the probability of causing a company to look good. This is rudimentary probability. But what profound thoughts did our great seer tell the AP? “We try to refrain from making value judgments — what the motive is. But the fact is that [Wal-Mart was] there with trailer trucks being turned away. Amazing, isn’t it?” Amazing indeed. Presumably, the AP reporter who talked with Celente did so because the reporter needed somebody to describe the situation as “amazing” or “magnificent.” Some casual modifier that might be confused for profound thought.
- Celente was asked to weigh in on Internet trends by the San Francisco Chronicle’s Patricia Yollin in December 2006. “People are more electronically connected and less humanly connected,” opined our great psychic. And if that general piece of advice wasn’t enough, Celente also took the time to badmouth public displays of affection, pointing out how unacceptable it was to put PDA in “techno jargon.” Perhaps Celente confused PDA with another type of PDA, but what he didn’t seem to tell the reporter was that acronyms have existed long before the Internet.
Both Noory and Bell are definitely Democrats. It’s amazing how their guests always manage to throw in something related to global warming or health to whatever subject their discussing. I get angry for 2 mins then go on enjoying the show.
Good move: just look at the incredible run gold had since 1981. And, if you add the dividends that gold brings, it becomes a real winner.
When Chicago lost the bid for the Olympics, Obama didn't start off with it as a lead. A couple of minutes later, when he did mention it, he gave it one line.
Many many things of great national importance somehow go by the wayside on Noory's show. He should be ashamed of himself.
“I guess all they know is how to spend OUR money!”
Actually, it’s not our money. It belongs to our kids and grandkids, but by the time the NeoComs work their magic, future generations will have to sell the Third World mess that is left to China. The whole nation will be too impoverished to care. Additional bailouts won’t fix a thing. The money can go to the power brokers, and prop up the stock market for awhile, but without growth it will be unsustainable. This anti-growth administration isn’t likely to do what is needed.
Noory is a ‘go along to get along’ kinda guy.. He is too damn nice to those who don’t deserve it. Art comes from a military family and he won’t interview nuts like Alex Jones, but I lost a lot of respect for him when, on air, he begged Obama to help him get his wife’s visa straightened out. He kept saying over and over again how he voted for Obama.. I was embarrassed for him. Alas.. I still enjoy their shows.
HA HA. I still listen too. I am usually asleep before the first hour is over.
Meanwhile the next liberal generation is applying to graduate schools.
Obama reminds me of the Twilight Zone episode of the little boy (played by Billy Mumy) that would send you to the “corn field” if you didn’t agree with him....So everyone would tell him how wonderful he was just to avoid being sent to the corn field...it was really creepy
He was asked for sperm by MJ some years ago.
Black Birch wrote: “However, we have a president and congress that are anti small business, anti energy, and anti fill in the blank.”
That was also true in 1975 (Democrats had a veto proof majority in the house and 61 seats in the senate). The market was up over 30% in 1975 and growth was 4%+. When you have the cycle going in your favour, it can cover a lot of policy mistakes.
I’m with Kudlow, I expect a strong Q4 and a good Christmas. Based on rebound from the recession, not anything that Obama has done.
After a massive upswing in US stocks over the last six months, the recent rally may finally be coming to an end. It seems that the trend of rising stocks on bad or better than expected news may be in a reversal, as evidenced by market participants' caution over the last couple of weeks.Crude was dropping sometime this week, haven't checked since.
Shatner? Looks more like Jeb Bush!
Bashing him for good reason. Have you heard him yap about how he wants to shape this “revolution” with the far left and libertarians and how conservatives - the right - are a bunch of racists? Bash, Bash, Bash, the nut!
Thanks for the heads up. That may be interesting fodder to nag fox news about.
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