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Gerald Celente: The entire system is collapsing
Russia Today/YouTube ^ | 6/18/10

Posted on 06/19/2010 4:33:35 AM PDT by Kartographer

He continued, “That’s breaking down as well. Now they’re imposing austerity measures. The entire system is collapsing. We’ve been saying this since the crash began in 2008. They’re only trying to pump it up with stimulus money and it’s not working. So, were going to see more unemployment. There is no way they can keep the system afloat by just dumping more money into it.”

(Excerpt) Read more at youtube.com ...


TOPICS: Business/Economy; Culture/Society; Government
KEYWORDS: bho44; bhoeconomy; celente; democrats; economy; fail; obama; unemployment
Navigation: use the links below to view more comments.
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When the dominoes start falling will yu be ready?

My preparedness manual for download at:

http://www.mediafire.com/?zghuhkgoqz4

1 posted on 06/19/2010 4:33:35 AM PDT by Kartographer
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To: Kartographer

This is exactly what BO/BS and his fellow marxists want to happen. It’s called the Cloward-Piven Strategy.


2 posted on 06/19/2010 4:35:32 AM PDT by Man50D (Fair Tax, you earn it, you keep it! www.FairTaxNation.com)
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To: blam; Quix

*ping*


3 posted on 06/19/2010 4:36:06 AM PDT by hennie pennie
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To: Man50D

Agreed. Too many on the right are becoming complacent with Obama’s “failures”. The radical marxists are fired up because they feel that their spark is near. They want collapse and they want the lights to go out.


4 posted on 06/19/2010 4:40:47 AM PDT by cripplecreek (Remember the River Raisin! (look it up))
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To: All
How Obama "Stimulated" the Economy......by run-away spending

The US Treasury entry must be seen in this context. COS Rahm Emanuel took control of the US Treasury when he crept into our WH. "Professor" Obama knows nothing about high finance----but Rahm toiled on Wall Street before coming into government (Congressman for 4 terms, Clinton henchman and Fannie Mae looter).

Behind The Real Size of the Wall Street Bailout (more like $14 trillion)
Mother Jones | Dec. 21, 2009 / FR Posted January 04, 2010 by E. Pluribus Unum

A guide to the abbreviations, acronyms, and obscure programs that make up the $14 trillion federal bailout of Wall Street.

The price tag for the Wall Street bailout is often put at $700 billion—the size of the Troubled Assets Relief Program. But TARP is just the best known program in an array of more than 30 overseen by Treasury Department and Federal Reserve that have paid out or put aside money to bail out financial firms and inject money into the markets. To get a sense of the size of the real $14 trillion bailout, see our chart here. Below, a guide to the pieces of the puzzle:

Treasury Department bailout programs (controlled by Rahm Emanuel)

Money Market Mutual Fund: In September 2008, the Treasury announced that it would insure the holdings of publicly offered money market mutual funds. According to the Special Inspector General for the Troubled Asset Relief Program (SIGTARP), these guarantees could have potentially cost the federal government more than $3 trillion [PDF].

Public-Private Investment Fund: This joint Treasury-Federal Reserve program bought toxic assets from banks and brokerages—as much as $5 billion of assets per firm. According to SIGTARP, the government's potential exposure from the PPIF is between $500 million and $1 trillion [PDF].

TARP: As part of the Troubled Asset Relief Program, the Treasury has made loans to or investments more than 750 banks and financial institutions. $650 billion has been paid out (not including HAMP; see below). As of December 21, 2009, $117.5 billion of that has been repaid. Government-sponsored enterprise (GSE) stock purchase: The Treasury has bought $200 million in preferred stock from Fannie Mae and another $200 million from Freddie Mac [PDF] to show that they "will remain viable entities critical to the functioning of the housing and mortgage markets." GSE mortgage-backed securities purchase: Under the Housing and Economic Recovery Act of 2008, the Treasury may buy mortgage-backed securities from Fannie Mae and Freddie Mac. According to SIGTARP, these purchases could cost as much as $314 billion [PDF].

--SNIP--- long read

Federal Reserve bailout programs

Commercial Paper Funding Facility: With the support from the Treasury, the Fed established the CPFF in October 2008 to increase the availability of short-term debt (commercial paper) funding. Up to $1.8 trillion [PDF] was earmarked for the program.

Mortgage-backed securities purchase: In 2009, the Fed earmarked up to $1.25 trillion to buy investments based on home loans.

Term Asset-Backed Securities Loan Facility: TALF provides financing to investors who are buying asset-backed securities. In February 2009, the Fed and Treasury announced an expansion of the program to generate up to $1 trillion in new lending.

Foreign Central Bank Currency Liquidity Swaps: The Fed has provided $755 billion [PDF] for currency liquidity swaps with foreign central banks.

--SNIP--- long read

=============================================

DID GANGSTER GOVERNMENT SCAM $14 TRILLION USING THE MADOFF MO? Creating a labyrinth of interrelated international funds, institutions and financial entities of almost unparalleled complexity and breadth......with assets and businesses in miltiple places overseas that hid thievery, money launderering and tax evasion.

At least half a dozen people in the Obama admin are going to walk away from “ Public Service “ living like the Sultan of Brunei.

5 posted on 06/19/2010 4:41:48 AM PDT by Liz (If teens can procreate in a Volkswagen, why does a spotted owl need 2000 acres? JD Hayworth)
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To: Kartographer

I don’t trust a guy who wears a sports jacket over his bath robe. If that happens to be his tux coat, he’s really nuts.


6 posted on 06/19/2010 4:42:35 AM PDT by gusopol3
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To: cripplecreek
"They want collapse and they want the lights to go out."

"Dark for dark deeds"
7 posted on 06/19/2010 4:44:42 AM PDT by Kartographer (".. we mutually pledge to each other our lives, our fortunes, and our sacred honor.")
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To: appalachian_dweller; OldPossum; DuncanWaring; VirginiaMom; CodeToad; goosie; kalee; Blue Jays; ...

Preparedness/Survival ping!


8 posted on 06/19/2010 4:48:38 AM PDT by ChocChipCookie (God to Obama: Don't think I'm not keepin' track. Brother.)
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To: Kartographer

My son in laws job is at risk now, the company is struggling with uncollectable accounts. We’ve already cut back to basics, things are as bleak as I’ve ever seen them.


9 posted on 06/19/2010 4:59:00 AM PDT by SWAMPSNIPER (The Second Amendment, A Matter Of Fact, Not A Matter Of Opinion)
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To: SWAMPSNIPER

“things are as bleak as I’ve ever seen them.”

This is why I am so thankful to be retired, and out of the country.
I really feel for those with families, and in their productive years.
I have a daughter, 27, back in Tennessee, but she can also bail out and join me here.


10 posted on 06/19/2010 5:20:15 AM PDT by AlexW (Now in the Philippines . Happy not to be back in the USA for now.)
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To: SWAMPSNIPER

Meanwhile union areas are being propped up. The department of labor gave Michigan $40 million the other day but it only gave the money to specific counties. I made up a map of how the money was distributed. Basically the counties with the heaviest union presence got the bulk of the money. The outlined area is my district which is traditionally republican but is in marxist hands for now but is a likely GOP pickup in the fall.

http://img24.imageshack.us/img24/8107/michigancountymap.jpg


11 posted on 06/19/2010 5:21:53 AM PDT by cripplecreek (Remember the River Raisin! (look it up))
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To: cripplecreek

I don’t agree with everything Celente says, but I greatly enjoy his youtube channel. He is a breath of fresh air and his recent appearence on AJ was one of his best.

Celente, Schiff, Bobb Chapman, and a few others are doing us a great service on youtube and all freepers are well advised to check them out.

THINK FOR YOURSELF!


12 posted on 06/19/2010 5:26:25 AM PDT by GlockThe Vote
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To: cripplecreek
The radical marxists are fired up because they feel that their spark is near. They want collapse and they want the lights to go out.

That's fine with me because as soon as the lights go out - it's payback time.
13 posted on 06/19/2010 5:30:27 AM PDT by fr_freak
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To: Liz

...”At least half a dozen people in the Obama admin are going to walk away from “ Public Service “ living like the Sultan of Brunei”...

If this is true, it is as criminal as anything ever was. I do not believe Americans will tolerate this thievery. If it exists, make no mistake, it will be punished.


14 posted on 06/19/2010 5:31:56 AM PDT by jazzlite (esat)
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To: AlexW

I’m kicking in as much as I can but my retirement doesn’t go far. It seems like every damned thing in the house is breaking down to boot!


15 posted on 06/19/2010 5:37:54 AM PDT by SWAMPSNIPER (The Second Amendment, A Matter Of Fact, Not A Matter Of Opinion)
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To: SWAMPSNIPER; All
...things are as bleak as I’ve ever seen them.

Agreed. There has never been a greater chasm between perception (what is presented to us via the propaganda machine coupled with the machinations of a financial oligarchy) and reality in the U.S.A.

Thanks to all posters.

Be prepared.

16 posted on 06/19/2010 5:40:01 AM PDT by PGalt
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To: jazzlite

If it exists, make no mistake, it will be punished.

..... oh really???? Think of Franklin Raines at Fannie and the cooked books that paid him over $90 MILLION fraud bonus dollars and tell me what his punishment was and that fraud is ALL PUBLIC KNOWLEDGE... it will continue until people are in the streets since the leftists control the courts... imho

ymmv


17 posted on 06/19/2010 5:41:37 AM PDT by ElectionInspector (Molon Labe)
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To: SWAMPSNIPER

“I’m kicking in as much as I can but my retirement doesn’t go far.”

Since I was always self employed, I paid in as little as I could to SS.
I started drawing it at age 64.
While it is minimal, it is more then I need for a pleasant
life for me and my girlfriend here in the Philippines.
Many in the US are paying more for gas each month then I pay for a month of rent, food, internet, and a ltr. of wine every day ;)


18 posted on 06/19/2010 5:46:56 AM PDT by AlexW (Now in the Philippines . Happy not to be back in the USA for now.)
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To: AlexW

Say hello to Art Bell for me. :-)


19 posted on 06/19/2010 5:49:22 AM PDT by Kartographer (".. we mutually pledge to each other our lives, our fortunes, and our sacred honor.")
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To: Kartographer

“Say hello to Art Bell for me. :-)”

Art is in a high rise up in Manila.
That is not at all my style.
I am in a small cottage at a beach on Cebu.
I did, however, exchange a few emails with him, as we are both old HAMs.


20 posted on 06/19/2010 5:53:55 AM PDT by AlexW (Now in the Philippines . Happy not to be back in the USA for now.)
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To: AlexW

Any security issues over there?


21 posted on 06/19/2010 6:31:21 AM PDT by joelt
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To: joelt

“Any security issues over there?”

None for me.
Many back in the states make a big deal about Muzies here, but I have yet to see a single Muslim.
There are probably more in Detroit then in all of the Philippines.
There is, however, some military actions against them in Mindanao, but that is not anywhere near me.

I feel quite safe here on Cebu.


22 posted on 06/19/2010 6:39:46 AM PDT by AlexW
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To: AlexW

Muslim terrorist, hurricanes and high humidity
are not an appealing aspect of your chosen
refuge. I hope it works out for you.


23 posted on 06/19/2010 7:36:08 AM PDT by Myrddin
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To: Myrddin

“Muslim terrorist, hurricanes and high humidity”

Well, you are quite uninformed.
Yes, there are some Muslim terrorist on Mindanao, not close to me, and probably less then you would find in Detroit.

Hurricanes? They do not have hurricanes in the Pacific, much less in Philippines.
They do have some Typhoons, but not the same as a Hurricane.
Humidity? Not as bad as west Tennessee, but there is no snow here ;)


24 posted on 06/19/2010 7:49:31 AM PDT by AlexW
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To: Myrddin

“Muslim terrorist, hurricanes and high humidity”

Well, you are quite uninformed.
Yes, there are some Muslim terrorist on Mindanao, not close to me, and probably less then you would find in Detroit.

Hurricanes? They do not have hurricanes in the Pacific, much less in Philippines.
They do have some Typhoons, but not the same as a Hurricane.
Humidity? Not as bad as west Tennessee, but there is no snow here ;)
While I live on a beach, I am only a few miles from the mountains, and the highest peak on Cebu, 3100 feet.

Gee, in Memphis, I had to drive 5 hours just to get a thousand feet, and two days to get to an Atlantic beach.


25 posted on 06/19/2010 7:52:58 AM PDT by AlexW
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To: Kartographer; hennie pennie
Hey, All You People Screaming For Spending Cuts, Be Careful What You Wish For
26 posted on 06/19/2010 8:09:25 AM PDT by blam
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To: Kartographer

We have tried spending money. We are spending more than we have ever spent before and it does not work. And I have just one interest, and if I am wrong ... somebody else can have my job. I want to see this country prosperous. I want to see people get a job. I want to see people get enough to eat. We have never made good on our promises.... I say after eight years of this Administration we have just as much unemployment as when we started.... And an enormous debt to boot!

Henry Morgenthau, Jr., Secretary of the Treasury, testimony to the House Ways and Means Committee, May 9, 1939 (17.2% unemployment)


27 posted on 06/19/2010 8:39:02 AM PDT by griswold3 (\)
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To: griswold3

History repeats itself, often with a vengeance.


28 posted on 06/19/2010 8:43:11 AM PDT by meyer (Big government is the enemy of freedom.)
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To: cripplecreek

“Progressives” need a reality check.
Adam Smith divided income into three types: profits, wages, and rents. The essential feature of profit is risk: capital is ventured in the hope of a return, and there may be a very great return, or little, or none. There is no guarantee of a profit in any enterprise, which is why businesses, both large and small, go bankrupt all the time — unless, like Chrysler, they have enough political influence to get bailed out by the government. Profits ultimately represent the real growth of wealth in an economy, for the profits of one enterprise do not always come out of the profits for another. Say’s Law is that supply creates demand, that a successful business adds to the productive capital of society, which increases the goods, and the profits, available for everyone. If the “profit motive” is rejected by governments because it is selfish or evil, and enterprises are conducted without concern for profitability, then what actually happens is that they will need to be subsidized, and the subsidies will have to come, if not out of profitable enterprises, then out of the stock of capital itself.

This means that the economy will gradually consume itself, just as a starving person lives off their own tissues, until there is too little left to sustain life. That is what happened to the economies of the Soviet Union and Eastern Europe, and to countless, ill-advised Third World countries.


29 posted on 06/19/2010 8:49:01 AM PDT by griswold3 (\)
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To: cripplecreek; Man50D

Too many people listen to Rush, Hannity, Beck, Levin and others...and their desire to “do something” is satisfied by listening...even though they aren’t really “doing” anything at all....just being spectators at the kabuki theater. Especially when Rush, Hannity and Levin (though I don’t listen all the time..so I may miss something) don’t connect all the dots as to how bad things really are globally.

Even if they get motivated to vote, if new people don’t run against establishment candidates, you aren’t voting for anything different.

While Obama is doing what he is doing, McCain being President would only be more of the same on a much smaller scale. The Establishment GOP is just Demlite. They only look Right in comparison to liberal fascism.


30 posted on 06/19/2010 8:53:54 AM PDT by Crimson Elephant
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To: Liz

Very nice, Liz.


31 posted on 06/19/2010 8:58:03 AM PDT by GOPJ (http://hisz.rsoe.hu/alertmap/index2.php?area=dam&lang=eng)
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To: AlexW
A typhoon is a hurricane south of the equator. Perhaps you missed the big ones that came through last season. Lots of death and destruction in Manila.

Why did it take you two days to get to an Atlantic beach from Memphis? It is much less than a one day drive. I drove a car from Birmingham, AL to Salt Lake City, UT in 46 hours...including a couple stops to sleep. Pocatello, ID to San Diego, CA (930 miles) takes me between 14.5 hours and 18 hours...very dependent on the day of the week and traffic conditions.

Thankfully, I don't have to drive an inch to get a thousand feet. I live at 4600 ft elevation. The beach is uninteresting. After growing up in San Diego and going to the beach 9 times in 30 years, it just doesn't hold much attraction.

Snow is not a problem. It means drinking water and food on the table. No lawn mowing either :-)

32 posted on 06/19/2010 9:13:28 AM PDT by Myrddin
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To: Crimson Elephant; Man50D

You paint with an awfully wide brush and offer no solutions.

Man50D and myself are some of the least likely people to simply vote for establishment candidates.


33 posted on 06/19/2010 9:23:01 AM PDT by cripplecreek (Remember the River Raisin! (look it up))
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To: Liz

Wanna bet the Sultan of Brunei is getting some stimulus dollars as well?


34 posted on 06/19/2010 9:27:19 AM PDT by bgill (how could a young man born here in Kenya, who is not even a native American, become the POTUS)
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To: ElectionInspector

Ceauciescu.

(sp?)


35 posted on 06/19/2010 9:36:27 AM PDT by little jeremiah
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To: hennie pennie; Amityschild; AngieGal; auggy; autumnraine; bearsgirl90; bethtopaz; BigBadWolf; ...

THX THX.

I think the guy is usually spot on.

Certainly he has the connections to know more than the average bear.

END TIMES LEVEL 4 PING


36 posted on 06/19/2010 9:38:22 AM PDT by Quix (THE PLAN of the Bosses: http://www.freerepublic.com/focus/religion/2519352/posts?page=2#2)
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To: SWAMPSNIPER
I’m kicking in as much as I can but my retirement doesn’t go far. It seems like every damned thing in the house is breaking down to boot!

Same thing here. Every time I turn around something else breaks down and it's not in the retirement check to get any of it fixed. OTOH, I just got back from the grocery and found some great deals so the freezer and pantry are bulging at the seams. This week I've worked on the insurance getting cheaper quotes so will be moving policies which will free up a few hundred dollars (but those dollars are already marked toward an extra payment).

37 posted on 06/19/2010 9:40:41 AM PDT by bgill (how could a young man born here in Kenya, who is not even a native American, become the POTUS)
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To: Crimson Elephant
if new people don’t run against establishment candidates, you aren’t voting for anything different.

You're so right. The GOP and the RATS are all one and the same these days.

38 posted on 06/19/2010 9:44:51 AM PDT by bgill (how could a young man born here in Kenya, who is not even a native American, become the POTUS)
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To: cripplecreek

I didn’t say you were.


39 posted on 06/19/2010 9:46:45 AM PDT by Crimson Elephant
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To: Man50D
This is exactly what BO/BS and his fellow marxists want to happen. It’s called the Cloward-Piven Strategy.

Absolutely correct. The irony here is that Soetoro and the Democrats don't realize that they aren't powerless outside agitators.

They are The Man now, and are the point of failure, personally. They are so steeped in the Western-society-must-be-destroyed mythology that they don't realize that they are now the power structure they seek to destroy.

It would be hilarious if it wasn't so suicidal.


Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.

40 posted on 06/19/2010 9:57:57 AM PDT by The Comedian (Evil can only succeed if good men don't point at it and laugh.)
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To: bgill

Wanna bet the Sultan of Brunei is getting some stimulus dollars as well?

......yeah, but it’s just to “create” jobs.........


41 posted on 06/19/2010 10:04:12 AM PDT by Liz (If teens can procreate in a Volkswagen, why does a spotted owl need 2000 acres? JD Hayworth)
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To: blam
At this point spending cuts if they do come will be too late and spending will only increase until then. You have to pay even for the ‘bread and circuses'.

Many times in life you com on problems which are best solved by starting over, framers crop severely damaged by a spring storm might plow under the corp and replant, fire fighters come on a building so fire damaged that they just let it burn working only to make sure it doesn't spread to other buildings, a car gets damaged in a wreck to a point were what few good parts are left and the scrap value is worth more than the car, no matter the problem and how bad or how hard you work to solve it sometimes you have to just wipe the board and start over.

42 posted on 06/19/2010 10:27:08 AM PDT by Kartographer (".. we mutually pledge to each other our lives, our fortunes, and our sacred honor.")
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To: The Comedian

They are The Man now, and are the point of failure, personally. They are so steeped in the Western-society-must-be-destroyed mythology that they don’t realize that they are now the power structure they seek to destroy.

It would be hilarious if it wasn’t so suicidal.


INDEED TO THE MAX.

THX.


43 posted on 06/19/2010 11:20:42 AM PDT by Quix (THE PLAN of the Bosses: http://www.freerepublic.com/focus/religion/2519352/posts?page=2#2)
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To: Crimson Elephant

Celente savage schiff and bob chappman are the real deal.

Hannity and levin are entertaiment as is rush.


44 posted on 06/19/2010 12:51:36 PM PDT by GlockThe Vote
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To: Kartographer

I’m beginning to think this guy is a commie plant.

“Workers of the world unite II”?

Why is he on RussiaTimes so often?

I think he WANTS to see Capitalism collapse!


45 posted on 06/19/2010 3:08:55 PM PDT by vanilla swirl (Where is the Black Regiment?)
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To: Myrddin

“A typhoon is a hurricane south of the equator.”

Well, I am new to the Pacific, so I can not speak with authority about typhoons, other then to say you are mistaken.
Typhoons form in the west to northwest Pacific.
You can call them hurricanes if you like, but Pacific islanders will not know what you are talking about.
The state department does have some information about them:

http://travel.state.gov/travel/cis_pa_tw/pa/pa_5067.html

You might also check out www.typhoon2000.com
It is a new and very comprehensive Philippine site.

Yes, there was a quite damaging Typhoon in Luzon last year.
The problem was flooding, rather then wind.
Other areas of the Philippines, such as Cebu, where I live
saw very little weather from it.
The Luzon area can be refereed to as Typhoon Ally for the Philippines.

Regarding driving over the USA. Yes, some people like to drive all day and all night. I am not a trucker.
I consider eight hours to be a days drive.
Eight hours to the mountains, for a break, then about eight hours to the South Carolina coast.

By the way, while I live on a beach, the highest point on Cebu (3100 ft) is only a few miles from me.
I have the best of both worlds.

Happy trucking to you.


46 posted on 06/19/2010 3:49:08 PM PDT by AlexW
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To: AlexW

I’m not a trucker. I drive my car or Mariner hybrid
between Idaho (home) and San Diego (work). It’s
all out of pocket, so making the run in one day
avoids adding a hotel stay enroute. The Birmingham
to Salt Lake City was an escape from hurricane
Ivan. I mostlt work from my home office. No
commute. In San Diego, I choose to ride my
motorcycle on the daily 70 mile commute. It’s
more fun, faster and saves mileage on the Mariner.
Enjoy your retirement!


47 posted on 06/19/2010 5:02:52 PM PDT by Myrddin
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To: All; ChocChipCookie

What Good Can a Handgun Do Against an Army.....?
http://www.freerepublic.com/focus/backroom/2312894/posts?page=242


48 posted on 06/19/2010 11:10:52 PM PDT by 2ndDivisionVet (Don't care if he was born in a manger on July 4th! A "Natural Born" citizen requires two US parents!)
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To: Myrddin

More info on the Philippines:
http://www.LivingInThePhilippines.com

(Is it Galt’s Gulch?)


49 posted on 06/20/2010 12:36:55 AM PDT by 2ndDivisionVet (Don't care if he was born in a manger on July 4th! A "Natural Born" citizen requires two US parents!)
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To: The Comedian
They are so steeped in the Western-society-must-be-destroyed mythology that they don't realize that they are now the power structure they seek to destroy.

"We are the one's we've been waiting to scre...oh wait."

Cheers!

50 posted on 06/20/2010 3:44:49 PM PDT by grey_whiskers (The opinions are solely those of the author and are subject to change without notice.)
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