Gerald Celente, Their [sic] is NO Economic Recovery, It's A COVERUP

market oracle ^ | 10/21/09 | market oracle

[Flavius]

The Worst Is Yet To Come

[Lazamataz]

Just for today, I don’t do any dope.

[sport]

I am proud of you. Keep up the good work.

[blueyon]

my .25 cents is on Celente...................he has not been wrong yet!

[Don Corleone]

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.

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.

[sport]

I believe the same thing.

[genghis]

and when inflation hits in a year or two.

[etradervic]

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.

[etradervic]

Celente is correct when he warns about the dollar destruction of the current administration and the fed. They are printing money to accommodate huge deficit spending which is leading to a reluctance to purchase US debt, which has led to more money printing to enable the fed to purchase our own debt. Its like getting another credit card to pay for a previously maxed out credit card. All of this works to devalue the dollar.

Unlike previous recessionary spending, I do not see the US growing out of it any time soon - especially since the gov so-called stimulus spending was socialistic and not designed to stimulate business.

With that being said, I believe that this decline will be a managed (and also deliberate) decline, not abrupt, but a decline nonetheless. Celente's recommendation to invest in hard assets (although he admits to only holding gold) is a good one. The metals will take out their previous highs as soon as this declining dollar is accompanied either by global economic stability and \ or inflationary pressure.

[wiggen]

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.

[FreeAtlanta]

And, the Democraps want to add the job killing, economy wrecking Cap and Trade laws and Healthcare takeover to this?

[badgerlandjim]

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.

Precisely right. Too bad more citizens can't see it.

[NotSoModerate]

Reality stings.

[LuvFreeRepublic]

Total depression leads to people clamoring for more not less government to help their sorry a$$es.

...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.

[Chode]

there's an old saying, "Never challenge worse." cause it can ALWAYS get worse...

some people just aren't smart enough to quit digging after the hit bottom.

[blam]

Nouriel Roubini: Big Crash Coming

[taildragger]

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....

[silverleaf]

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.

[TheFrog]

Just about another 5 billion years or so until the sun turns into a red giant. We are all toast.

[bmwcyle]

Obama is just turning the charts 90 degrees counterclockwise.

[Flavius]

tnks