Skip to comments.Gerald Celente Finally Gives a Date for U.S. Economic Collapse
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
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!
Economic “gurus” don’t make money by saying “There really isn’t gonna be anything major in the next year.”
was he using the Mayan calendar this time?
lemme check my crystal ball here, read the tea leaves, the Tarot cards
I can’t stand these stupid predictions
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.
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.
I expect inflation, bad inflation.
Surprised it hasn’t hit yet.
YEP...when a REPUBLICAN President is elected....the financial mess will hit the fan...
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.
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.
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.
My crystal ball says September 2015.
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.
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.
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.
I don’t have a personal shopper — if that’s what you’re askin’. 8^)
The first three months of this year:
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.
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.
It’s already hit. They just haven’t told you how much we’ve bled yet.
I stopped buying beef a couple years ago. Can’t afford it.
So what you're trying to say is: The price of steak is dropping?
Or: You bought more pounds of chicken than steak?
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.
Talk to any Commercial land agent and they’ll tell you what will happen, and when.
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.
See post #30.
...........”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.
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...
“I expect inflation, bad inflation.
Surprised it hasnt 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.
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.
“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....
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.
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)
The Creature From Jekyll Island
(What happened in 1913)
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.
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!!!!!!!