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Gerald Celente Finally Gives a Date for U.S. Economic Collapse
The Market Oracle ^ | 5-4-2014 | Nadeem Walayat

Posted on 05/04/2014 7:51:06 PM PDT by blam

Gerald Celente Finally Gives a Date for U.S. Economic Collapse

Economics / US Economy
May 03, 2014 - 07:54 AM GMT
Nadeem Walayat

Gerald Celente, a popular gloom and doom blogger and publisher of the TR Journal finally gives a date for the always coming economic collapse that I must have been hearing about for 5 years now.

WLW Radio - 30th April 2014

"Your predicting an economic collapse, when do you think that is going to happen Gerald?"

"I am going to say by the end of the second quarter." - Gerald Celente

Apparently the straw that broke the camels back was the bad U.S. GDP data for Q1 of just 0.1%, currency devaluation and Fed QE. Though off course the GDP numbers for Q1 were bad, this was more or less EXPECTED, apparently all it takes is a few days of sunshine for everyone to have forgotten snowmageddon for much of Q1.

This is what I expect to happen for Q2 - A STRONG U.S. economic rebound that recoups much of the weakness of Q1, in fact I would not be surprised if U.S. April to June GDP comes in as high as above 1% (including any upwards revision to Q1), never mind collapse!

Now back to Gerald on his expectations for Q2 economic collapse, great to finally have a date on it!

(snip)


TOPICS: News/Current Events
KEYWORDS: collapse; economy; finance; investing
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1 posted on 05/04/2014 7:51:06 PM PDT by blam
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To: blam

Economic “gurus” don’t make money by saying “There really isn’t gonna be anything major in the next year.”


2 posted on 05/04/2014 7:55:11 PM PDT by MuttTheHoople (Nothing is more savage and brutal than justifiably angry Americans. Don’t believe me? Ask the Germa)
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To: blam

was he using the Mayan calendar this time?


3 posted on 05/04/2014 8:00:20 PM PDT by max americana (fired liberals in our company last election, and I laughed while they cried (true story))
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To: blam

lemme check my crystal ball here, read the tea leaves, the Tarot cards

I can’t stand these stupid predictions


4 posted on 05/04/2014 8:09:06 PM PDT by yldstrk ( My heroes have always been cowboys)
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To: blam
Nadeem seems awful flippant here, and unjustifiably so, imo. Gerald Celente has a pretty good track record and I wouldn't dismiss what he says that quickly.

Any number of single events could spark that collapse, namely, OPEC countries suddenly refusing to accept dollars for their oil, China and/or Japan sitting out our Treasury auctions - or dumping their entire holdings on the market, sending US interest rates to the double digits withing days or even house.

Chances are high GC knows something most of us do not. He could be wrong, and I hope he is.

5 posted on 05/04/2014 8:09:20 PM PDT by MichaelCorleone (Jesus Christ is not a religion. He's the Truth.)
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To: MuttTheHoople
Kyle Bass Sums It All Up: "Proceed With Caution"
6 posted on 05/04/2014 8:09:33 PM PDT by blam
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To: MuttTheHoople

I am the furthest removed from an “economic guru”; however, watching the Federal Reserve pump 85 Billion into the American economy via the Treasury month after month for years is enough to tell me something is gonna “give” and when it does, watch out. My prediction? About the time Obama’s term is up (Yay! a Republican President next!!! OOOOps, we are already in financial ruin; que the media and the stupid ass LIV’s - Things suck because of Pubbie Prez- doesn’t matter he’s been in office only one day). The only reason obama’s terms are even “afloat” is the massive spending; he and the dem’s have certainly done nothing, NOTHING that advances the United State’s. They have simply plundered our wealth and that is bad news if you study history.


7 posted on 05/04/2014 8:09:54 PM PDT by Ghost of SVR4 (So many are so hopelessly dependent on the government that they will fight to protect it.)
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To: yldstrk

Try mine.


8 posted on 05/04/2014 8:10:19 PM PDT by Ghost of SVR4 (So many are so hopelessly dependent on the government that they will fight to protect it.)
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To: Ghost of SVR4

I expect inflation, bad inflation.

Surprised it hasn’t hit yet.


9 posted on 05/04/2014 8:18:55 PM PDT by BenLurkin (This is not a statement of fact. It is either opinion or satire; or both.)
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To: Ghost of SVR4

YEP...when a REPUBLICAN President is elected....the financial mess will hit the fan...


10 posted on 05/04/2014 8:19:18 PM PDT by goodnesswins (R.I.P. Doherty, Smith, Stevens, Woods.)
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To: blam

This has gone on for quite some time, will continue and won’t end until there’s an outside reason forcing a change or an internal reason that is politically advantageous for leftists. All the traditional means of prognosticating and reading the tea leaves have flown right out the window because it’s no longer based upon any fundamental market force. A China crash or bubble collapse would make Chinese goods all that much cheaper in the long run and cause a flight to safety in US currency and instruments in the short run. Who else is in a position to swing the needle in an impactful way upon the US at present? Russia? They’d like to think so and are rattling sabres again, but I suspect not.


11 posted on 05/04/2014 8:21:44 PM PDT by RegulatorCountry
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To: blam
Magic 8 Ball says...

12 posted on 05/04/2014 8:30:36 PM PDT by Chode (Stand UP and Be Counted, or line up and be numbered - *DTOM* -vvv- NO Pity for the LAZY - 86-44)
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To: BenLurkin
I think a good chunk of inflation is on us already. Our benevolent Federal Government simply doesn't take it into account ans the MSM sure as hell aint reporting on it. It's easier to wipe numbers from the official books than talk about them.

About seven years ago, buying a good chunk of steak from costco that I then butchered up myself cost me about fifty bucks. I literally just bought something weight wise from costco this past Saturday and it cost me $106.00 bucks. I went to fill up my suv today; umm...nope. 87 octane was 3.90 a gallon (When GW left office it was 1.87). Bread, milk, veggies....everything seems doubled in price. The common denominator is Washington D.C. and their war on the middle class. Taken a good hard look at your cell phone bill recently? It is littered with taxes and "fee's". ISP? Same.

The government is out of control and we are already absorbing that burden but most simply don't notice it or blame their employers or "big company X" gouging. You are right, when bad inflation hits the ugliness will hit hard and normal families will be starving within weeks; if not days.

13 posted on 05/04/2014 8:31:59 PM PDT by Ghost of SVR4 (So many are so hopelessly dependent on the government that they will fight to protect it.)
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To: MichaelCorleone

Good points.


14 posted on 05/04/2014 8:32:23 PM PDT by Rusty0604
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To: All

the one thing I know for sure, if there is a collapse, won’t it be great to see these Marxist traitors sitting in the gallows in front of a pissed of southern gentleman judge. you know, the kind you don’t see anymore in court room scenes on tv.


15 posted on 05/04/2014 8:34:22 PM PDT by willywill
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To: blam

My crystal ball says September 2015.


16 posted on 05/04/2014 8:35:15 PM PDT by SVTCobra03 (You can never have enough friends, horsepower or ammunition.)
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To: Ghost of SVR4

The internet bubble bust happened at the end of Clinton’s term, but Bush took office just in time for the liberals to blame him for the economic downturn.


17 posted on 05/04/2014 8:35:43 PM PDT by Rusty0604
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To: BenLurkin
Surprised it hasn’t hit yet.

Well, inflation is already hitting everyone hard in the grocery aisle. Of course, the government doesn't acknowledge that. The so-called "core inflation" numbers exclude food and energy.

What a hoot! The fed's should just pass a law that says inflation must be reported as 0.1% annually. That would be just as reasonable as what's being reported now, and it would save them some effort.

18 posted on 05/04/2014 8:35:56 PM PDT by Leaning Right (Why am I holding this lantern? I am looking for the next Reagan.)
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To: BenLurkin

Have you been grocery store lately? The price of all of our food is up dramatically. I paid more for chicken than I did for steak last week. If it hasn’t hit your stores yet...it will.


19 posted on 05/04/2014 8:37:40 PM PDT by Vermont Lt (If you want to keep your dignity, you can keep it. Period........ Just kidding, you can't keep it.)
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To: Vermont Lt

I don’t have a personal shopper — if that’s what you’re askin’. 8^)


20 posted on 05/04/2014 8:41:32 PM PDT by BenLurkin (This is not a statement of fact. It is either opinion or satire; or both.)
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