Skip to comments.Gerald Celente, Their [sic] is NO Economic Recovery, It's A COVERUP
Posted on 10/25/2009 5:37:20 AM PDT by Flavius
The Worst Is Yet To Come
(Excerpt) Read more at marketoracle.co.uk ...
THE WORST IS YET TO COME. And when THAT worst gets here,THE WORST IS YET TO COME. And when THAT worst gets here,THE WORST IS YET TO COME. And when THAT worst gets here,THE WORST IS YET TO COME. And when THAT worst gets here,THE WORST IS YET TO COME. And when THAT worst gets here,THE WORST IS YET TO COME. And when THAT worst gets here,THE WORST IS YET TO COME. And when THAT worst gets here,THE WORST IS YET TO COME. And when THAT worst gets here,THE WORST IS YET TO COME. And when THAT worst gets here,THE WORST IS YET TO COME.
Josef Stalin's proclamation after the terror famine and the purges killed several million.
“THE WORST IS YET TO COME.”
For my money, or lack thereof, the cover-up isn’t going so well, either.
That being said, there won’t be enough smoke and mirrrors to go around when the reports on income, available to be taxed, come in at the end of the year.
It will be the crushing blow.
The stock market is a bubble built on taxpayer (bailout) funds.
The Q3 results point out how our economy is still drifting downward (albeit, slower) via lower sales reports versus Q2.
Company profits are mostly up due to cost-cutting, not increased activity.
Shipping companies reported a bad Q3, revealing store shelves are not being stocked heavily for the Christmas shopping season.
>> Life has become gayer, comrades.
Stalin was a prophet! Who knew?
THE WORST IS YET TO COME. And when THAT worst gets here,THE WORST IS YET TO COME. And when THAT worst gets here,THE WORST IS YET TO COME. And when THAT worst gets here,THE WORST IS YET TO COME. And when THAT worst gets here,THE WORST IS YET TO COME. And when THAT worst gets here,THE WORST IS YET TO COME. And when THAT worst gets here,THE WORST IS YET TO COME. And when THAT worst gets here,THE WORST IS YET TO COME. And when THAT worst gets here,THE WORST IS YET TO COME. And when THAT worst gets here...
As a child, I read the book “Animal Farm” and was taught that the author was writing about how communists deceive and destroy those that trust and believe them.
And now all the methods the pigs used to destroy and castigate and bring in their cruel reign over their fellow animals are being carried out before our eyes daily.
I do not know if their will even be a free election anymore.
I think I read here yesterday that government revenues (taken in from us taxpayers) are already DOWN 23% so far this year.
When the commercial real estate bubble bursts and when more people lose their homes due to foreclosure, and people stop BUYING homes to get that fraudulent $8,000 kickback money (another ‘Cash for Clunkers’ program that will do NOTHING) and another 500,000 are tallied as having lost their jobs in October (accounting due on that November 6th) and when the Bush Tax Cuts are allowed to expire...
...we should see revenue drop to 50%, LOL! And then they’ll tax us even more, hoping to get more blood out of us turnips.
Go for it, 0bama! Go for it, Pelosi! I dare ya! Tee-Hee.
Meant to ping you to #13, too.
In my experience, things are rarely as good or bad as people say they are. Its usually in the middle. That being said, its hard to see how our out of control spending and fiscal policies end well.
72% gdp BASED on consumption
guess service/healthcare based economy really is a joke
Did it look "FREE" last time?
Cerially! The ENEMEDIA picked the last place DOA outta money RNC candydate and made him our nominee!
Kidna gives the "Snowflake is the enemy of the people" line a new meaning.
I agree with Celente. It is not going toget any better and will only get worse.
Why? 1. Because there is no industrail base to build to. 2.Government and environmental regulations have destroyed our industrail base [factories, shipyards, and steel mills].
3. Without an industrail base and personal ambition to better one’s self, both frowned on by this government, the tax base for the government is crippled.
To recap: No industry equates to no jobs. No jobs equals no taxes collected. and on and on.
obama will try to solve this by two methods, neither will work. 1. Print more money. 2. Raise taxes on those working in other jobs, the local governments will raise property taxes, permit fees and institute other taxes.
obama will respond to printing more money and raising taxes not working to bread and circuses for the masses. It will take the form of welfare and dope.
But this the change and hope the fools voted for.
it will go something like this: I had to chang my dope dealer, I hope he has goodstuff.
Just for today, I don’t do any dope.
I am proud of you. Keep up the good work.
my .25 cents is on Celente...................he has not been wrong yet!
I'm not so sure he wants to solve this. Total depression leads to people clamoring for more not less government to help their sorry a$$es.
I believe the same thing.
and when inflation hits in a year or two.
The Dems are all about political power for their party. They do not give a damn about our economy. They say this every day with their actions since Jan 2009.
that cost cutting is due to sending workers home. once productivity gains are in place,those workers will not be called back. An extremely large % of the lost jobs are never coming back.
And, the Democraps want to add the job killing, economy wrecking Cap and Trade laws and Healthcare takeover to this?
Precisely right. Too bad more citizens can't see it.
...sorry a$$es??? Our nation is in a recession/depression and Americans are out of work and unable to feed or provide their family with a home and you call them sorry a$$es!!! I think you are the sorry a$$!!!! Lots of people did not contribute to the current economic situation and DO NOT deserve the loses they have suffered. God please help this country.
some people just aren't smart enough to quit digging after the hit bottom.
Add to that, most people did not plan for the $13 Dollar Obama reduction in withholding. If they did not change their W2’s, they may be in for a nasty suprise as they get either; a reduce return, no return or end up paying as the economy continue to decline into tax season....
Expiration of the “Bush Tax Cuts” will be a rude shock to many many many folks. I expect to be living a lot leaner next year.
It will also shock Pelosi and Reid who have already spent the increased revenue they think this will bring in. Truthfully I cannot look at either one of them anymore as even being sane. BDS destroyed them.
Just about another 5 billion years or so until the sun turns into a red giant. We are all toast.
Obama is just turning the charts 90 degrees counterclockwise.
I'll take it as truth when ammunition is hard to find and the price of it skyrockets...
It's for the "chidren". ; )
The news just gets better and better.
Have you seen the video of “Animal Farm”? I have the tape and I want to find a DVD now. I started plowing with a draft horse while still in grade school so I thought the horse in that story was an amazing illustration of what can happen to the gullible. We have a border collie who is growing very old now and every time I look at her I think of “Animal Farm”. I think it is one of the greatest books ever written and the video version is really great.
If we ever have another free election it has to be in 2010. I have great fears about it, I don’t think we had a free election in 2008, that is the worst part. I can’t say for certain that the fraud was great enough to make it a stolen election but I am certain the margin was greatly inflated by fraud. I think 2008 was very much a bloodless coup, the nomination of McCain was disastrous and the media did everything possible to elect Obama plus Acorn was totally dedicated to electing Democrats, Acorn is a one hundred percent partisan organization.
The world is full of crackpots. This is not a helpful or informative thread. “Buy gold and buy locally produced products,” which is what this crackpot “says” he is doing, is worthless advice. Does any rational person really believe that Americans should put 80% of their savings in gold? And just how much more should I be willing to pay for a product because it is produced in my city?
Again, this thread is time-consuming nonsense.
you dont have a clue who this guy is do you
“Again, this thread is time-consuming nonsense.”
Yet here you are. ;)
I understand silver is the better bet because it has farther to move. Meanwhile, I bought 13 acres in Kentucky - an entire finger of a plateau about 80’ above the valley below at it’s highest point. Bought it on a handshake just before the election and closed last summer.It has an artesian well and a 2 year old house. I already have beef growing on it. It’s completely self sufficient property if need be.
I AM still in Seattle, but in preparation for the whole thing I got out of my five bedroom house and moved to a one bedroom condo rental across the street (8 month lease) from my corporate office. I effectively reduced expenses by $1000 a month and sold off, and am continuing to sell off, stuff on Craigslist.
If this is all baloney, I’ll be retiring on the property in Kentucky. On the other hand, If this is what I have been predicting since September of 2006, well, we’re ready. One thing’s for sure. This is very much a “frog being boiled alive” sort of thing. If you were able to view our current situation with 2008 eyes, this would seem even worse than most of us see it.
We have entered an age of true fascism in the US and all the Dagney Taggarts are still trying to work within the system. Even Dagney turned, eventually.
Oh, the people will get some jobs back. They'll vote for them in the way of government jobs and other make work.
15% of the country is not going to just slink off and starve. They will do anything they can about it, and Third World income inequality is not going to be acceptable. They will vote to confiscate the wealth of the globalist manipulators on Wall Street if they can.
People who don't believe that engage in self delusion at their own risk.
Although jobs come back, they come back “different”. I contracted (in IT) for just shy of $100 per hour in 2000. it dropped, eventually to $45. I became an employee at a contract site before that happened. :)
Meanwhile, there are still plenty of contract jobs and I still get pinged for them. Those that actually state a rate are ALL below $35 an hour. Some considerably so.
The jobs are there, but...
before the doom and gloom gets out of control, look at the sequence of events that occurs with a normal economic recovery:
Guys like Celeste simply ignore all of the indicators that precede EVERY recovery: stock market up, basic materials prices up, rising industrial production, falling employment losses, corp profits improving, steep yield curve, declining credit spreads, deflation stopped.
Some industries recover faster than others. The normal sequence is high PE multiple tech (AMZN, GOOG, APPL, EBAY), then financials, then retail housing and autos, then low PE tech (IBM, INTC), then paper and chemicals...etc etc (this is explained really well in Jim Cramer’s “Real Money”, and if you don’t believe him you can go back and look at the quarterly reports for these companies yourself and see that the relative timing here is correct).
I still say this economic recovery is unfolding as normal. If you don’t trust government statistics, look at corporate earnings. High PE multiple tech leads the cycle. All of AMZN, GOOG, AAPL, EBAY exceeded expectations. More importantly, they were UP year over year in revenues and profits (except EBAY).
Year-over-year revenue growth would not be possible for any company if the doom laden scenarios of Celeste etc. were real.
One other point, if we get a normal economic recovery, and less inflation than the 1970’s, then gold is going to crash. Anyone with more than 5-10% precious metals is risking huge losses.