Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

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

1 posted on 05/04/2014 7:51:06 PM PDT by blam
[ Post Reply | Private Reply | View Replies]

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)
[ Post Reply | Private Reply | To 1 | View Replies]

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))
[ Post Reply | Private Reply | To 1 | View Replies]

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)
[ Post Reply | Private Reply | To 1 | View Replies]

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.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: MuttTheHoople
Kyle Bass Sums It All Up: "Proceed With Caution"
6 posted on 05/04/2014 8:09:33 PM PDT by blam
[ Post Reply | Private Reply | To 2 | View Replies]

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.)
[ Post Reply | Private Reply | To 2 | View Replies]

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.)
[ Post Reply | Private Reply | To 4 | View Replies]

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.)
[ Post Reply | Private Reply | To 7 | View Replies]

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.)
[ Post Reply | Private Reply | To 7 | View Replies]

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
[ Post Reply | Private Reply | To 1 | View Replies]

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)
[ Post Reply | Private Reply | To 1 | View Replies]

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.)
[ Post Reply | Private Reply | To 9 | View Replies]

To: MichaelCorleone

Good points.


14 posted on 05/04/2014 8:32:23 PM PDT by Rusty0604
[ Post Reply | Private Reply | To 5 | View Replies]

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
[ Post Reply | Private Reply | To 12 | View Replies]

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.)
[ Post Reply | Private Reply | To 1 | View Replies]

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
[ Post Reply | Private Reply | To 7 | View Replies]

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.)
[ Post Reply | Private Reply | To 9 | View Replies]

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.)
[ Post Reply | Private Reply | To 9 | View Replies]

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.)
[ Post Reply | Private Reply | To 19 | View Replies]

To: Ghost of SVR4
"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. "

The first three months of this year:

The Real Inflation Fear - US Food Prices Are Up 19% In 2014

21 posted on 05/04/2014 8:43:26 PM PDT by blam
[ Post Reply | Private Reply | To 13 | View Replies]

To: BenLurkin

That’s funny.

Inflation has hit, and a lot of folks on moderate incomes are feeling it. Wait until the beef market skyrockets. A combination of the drought, followed by a horrific winter has thinned the herd. Pork is getting hit by this virus, which has killed huge numbers of hogs.

We will be eating a lot of beans by the end of the summer.


22 posted on 05/04/2014 8:44:27 PM PDT by Vermont Lt (If you want to keep your dignity, you can keep it. Period........ Just kidding, you can't keep it.)
[ Post Reply | Private Reply | To 20 | View Replies]

To: blam

With FATCA hitting on 7/1/14, time to buy Swiss francs? I’m going to Switzerland around that time, so I’m will need a few extra anyways. BTW, the Swiss franc is usually around parity with USD or slightly higher, but the Swiss actually have a 1000 franc note.


23 posted on 05/04/2014 8:45:23 PM PDT by grumpygresh (Democrats delenda est. New US economy: Fascism on top, Socialism on the bottom.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: blam

It’s already hit. They just haven’t told you how much we’ve bled yet.


24 posted on 05/04/2014 8:47:04 PM PDT by Caipirabob (Communists... Socialists... Democrats...Traitors... Who can tell the difference?)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Vermont Lt

I stopped buying beef a couple years ago. Can’t afford it.


25 posted on 05/04/2014 8:48:06 PM PDT by BenLurkin (This is not a statement of fact. It is either opinion or satire; or both.)
[ Post Reply | Private Reply | To 22 | View Replies]

To: Vermont Lt
I paid more for chicken than I did for steak last week.

So what you're trying to say is: The price of steak is dropping?

Or: You bought more pounds of chicken than steak?

Regards,

26 posted on 05/04/2014 9:11:08 PM PDT by alexander_busek (Extraordinary claims require extraordinary evidence.)
[ Post Reply | Private Reply | To 19 | View Replies]

To: yldstrk
I can’t stand these stupid predictions

Wow, you are certainly missing the boat here. Instead of criticizing these predictions, you should be issuing one yourself.

Just do what the rest of them do. Pick a random date, then issue a press release: Yldstrk has calculated that the market will crash during the week of August 10, 2014.

If by dumb luck you're right, you're a millionaire. You will get book deals and a cable TV show. Folks will pay you big bucks for a monthly financial newsletter.

And if you're wrong, blame it on global warming. Wait a while, then try again.

27 posted on 05/04/2014 9:15:25 PM PDT by Leaning Right (Why am I holding this lantern? I am looking for the next Reagan.)
[ Post Reply | Private Reply | To 4 | View Replies]

To: blam

Talk to any Commercial land agent and they’ll tell you what will happen, and when.


28 posted on 05/04/2014 9:24:15 PM PDT by MaxMax (Pay Attention and you'll be pissed off too! FIRE BOEHNER, NOW!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: blam

Bump


29 posted on 05/04/2014 9:24:42 PM PDT by Jet Jaguar (Resist in place.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Chode

Forget Magic 8-Ball.

I have my Official Economic Prognosticator and Secret Decoder Ring Kit.

I predict that collapse will occur much sooner than Celente expects, unless factors not yet evaluated cause it to occur later, in which case it will be much later preceded by a period of inflation that will be severe unless it is mild, in which case it could be so mild as to actually be deflationary possibly even severely so.

During this time, which could last from months to years if it is severe or mild, there will be some recovery unless the recovery is overshadowed by backsliding into malaise.

Here’s the bill for my speaking fee.


30 posted on 05/04/2014 9:52:34 PM PDT by shibumi (Cover it with gas and set it on fire.)
[ Post Reply | Private Reply | To 12 | View Replies]

To: Leaning Right

See post #30.


31 posted on 05/04/2014 10:31:19 PM PDT by shibumi (Cover it with gas and set it on fire.)
[ Post Reply | Private Reply | To 27 | View Replies]

To: shibumi
LOLOL!!! 100%... a true Market Maven 8^)
32 posted on 05/04/2014 10:54:00 PM PDT by Chode (Stand UP and Be Counted, or line up and be numbered - *DTOM* -vvv- NO Pity for the LAZY - 86-44)
[ Post Reply | Private Reply | To 30 | View Replies]

To: goodnesswins

...........”When a REPUBLICAN President is elected....the financial mess will hit the fan”.....

That’s how I see it also, though we may get the strong winds coming before that. Rather like a Tornado with the clouds forming....you know somethings on the way, the reports are saying all indicators point to a Tornado. But nobody knows when nor where it will hit ‘first’ nor the damage it will cause or where.


33 posted on 05/04/2014 10:59:56 PM PDT by caww
[ Post Reply | Private Reply | To 10 | View Replies]

To: caww; goodnesswins
I was 'predicting' that if Romney won, the NWO's "Plan B" would go into effect, possibly immediately after his swearing in. If nothing happens by 2016, and a Republican wins, I will make that prediction again.

My point being is that the goal is the disassembly of the USA. Slow enough that the masses do not recognize, but surely so that it does happen. Obama being in office is the best way for them to do this, so they really do not need to do anything. Yet. If a Republican is elected, OPEC drops the $, financial attacks "necessarily skyrocket", etc. If Soros feels he is getting old and may not make it 'till 2016, then he and his folk get impatient and may do some of that stuff now. Who knows...

34 posted on 05/04/2014 11:54:23 PM PDT by Captainpaintball (Immigration without assimilation is the death of a nation)
[ Post Reply | Private Reply | To 33 | View Replies]

To: BenLurkin

“I expect inflation, bad inflation.

Surprised it hasn’t hit yet”

Oh it has hit, it’s just that the Goverment doesn’t factor in a lot of things in there calculation like gas.

Gas. beef and soon pork (virus killing off millions of piglets) have sky rocketed.


35 posted on 05/05/2014 3:12:43 AM PDT by DAC21
[ Post Reply | Private Reply | To 9 | View Replies]

To: blam

Let me make a prediction.

There will be a collapse when the money stops flowing from Washington. The stimulus has gone on longer than even the Feds thought it would.

It won’t happen with a sudden giant sucking sound. It’ll be a slow, long, drawn out death of America.


36 posted on 05/05/2014 3:45:13 AM PDT by lucky american (Progressives are attacking our rights and y'all will sit there and take it.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Ghost of SVR4

“If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered...” - Thomas Jefferson

Seems appropriate right now wouldn’t you say....


37 posted on 05/05/2014 4:55:40 AM PDT by Grubwart
[ Post Reply | Private Reply | To 7 | View Replies]

To: blam

1st Qtr results will be revised downward later as always, 2nd Qtr, by the Regime accounts will be a “rebound”, but do their numbers have any cred? 2008 crash was in Sept/Oct timeframe, and I believe the 1930’s crash came in the same slot..........what a coincidence, right before an election with a Messianic figure there to claim he needs to stay for the “countries own good” of course.


38 posted on 05/05/2014 5:27:51 AM PDT by sbark
[ Post Reply | Private Reply | To 1 | View Replies]

To: Grubwart

1913 to 2013. The dollar debased to the tune of 97%. Roughly, what cost a penny in 1913 costs a dollar today.

In 1975 I made 10.00 an hour, my mortgage payment was 179.00 PITI per month. (New construction 3 BR house, zero down on 18,000 purchase price)

House payment less than half of my weekly income.

To make the equivalent wage today, one would have to earn 43.00 an hour.

(St Louis Federal Reserve Bank inflation calculator—the figures cited are over a year old which was the last time I checked)


39 posted on 05/05/2014 5:35:11 AM PDT by the anti-mahdi
[ Post Reply | Private Reply | To 37 | View Replies]

To: the anti-mahdi
"1913 to 2013. The dollar debased to the tune of 97%. Roughly, what cost a penny in 1913 costs a dollar today."

The Creature From Jekyll Island
(What happened in 1913)

40 posted on 05/05/2014 7:03:56 AM PDT by blam
[ Post Reply | Private Reply | To 39 | View Replies]

To: MichaelCorleone

I like Gerald Celente but personally I think the Fed Reserve will do its machinations and manage to keep the stock market afloat by manipulating and printing.

IMO the govt knows we are heading for a terrible economnic crash and they know they cannot stop it so they will drag things out as long as possible. Would not surprise me if they can keep the US Minnow afloat another 18-24 mos.


41 posted on 05/05/2014 8:56:52 AM PDT by Georgia Girl 2 (The only purpose o f a pistol is to fight your way back to the rifle you should never have dropped.)
[ Post Reply | Private Reply | To 5 | View Replies]

To: blam

This first quarter drop is the biggest when you include the false 3 percent that is already being added to the GDP, AND....THE DROP FROM THE PREVIOUS QUARTER.

So the drop from one quarter to the other is around......................9 PERCENT!!!!!!!


42 posted on 06/30/2014 10:58:39 AM PDT by TomasUSMC (FIGHT LIKE WW2, WIN LIKE WW2. FIGHT LIKE NAM, FINISH LIKE NAM.)
[ Post Reply | Private Reply | To 1 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson