Magic 8 Ball says... 
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)
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.
Try mine.
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.
Magic 8 Ball says...
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.
Good points.
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^)
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