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What Do They Say Is Coming In 2014? Top Financial Prognosticators Speak Out
Freedom Outpost ^ | December 13, 2013 | Michael Snyder

Posted on 12/13/2013 7:19:47 PM PST by Tolerance Sucks Rocks

Some of the most respected prognosticators in the financial world are warning that what is coming in 2014 and beyond is going to shake America to the core. Many of the quotes that you are about to read are from individuals that actually predicted the subprime mortgage meltdown and the financial crisis of 2008 ahead of time. So they have a track record of being right. Does that guarantee that they will be right about what is coming in 2014? Of course not. In fact, as you will see below, not all of them agree about exactly what is coming next. But without a doubt, all of their forecasts are quite ominous. The following are quotes from Harry Dent, Marc Faber, Gerald Celente, Mike Maloney, Jim Rogers and nine other respected economic experts about what they believe is coming in 2014 and beyond…

-Harry Dent, author of The Great Depression Ahead: “Our best long-term and intermediate cycles suggest another slowdown and stock crash accelerating between very early 2014 and early 2015, and possibly lasting well into 2015 or even 2016. The worst economic trends due to demographics will hit between 2014 and 2019. The U.S. economy is likely to suffer a minor or major crash by early 2015 and another between late 2017 and late 2019 or early 2020 at the latest.”

-Marc Faber, editor and publisher of the Gloom, Boom & Doom Report: “You have to say that we are again in a massive financial bubble in bonds, in equities, in [other] asset prices that have gone up dramatically.”

-Gerald Celente: “Any self-respecting adult that hears McConnell, Reid, Boehner, Ryan, one after another, and buys this baloney… they deserve what they get.

And as for the international scene… the whole thing is collapsing.

That’s our forecast.

We are saying that by the second quarter of 2014, we expect the bottom to fall out… or something to divert our attention as it falls out.”

-Mike Maloney, host of Hidden Secrets of Money: “I think the crash of 2008 was just a speed bump on the way to the main event… the consequences are gonna be horrific… the rest of the decade will bring us the greatest financial calamity in history.”

-Jim Rogers: “You saw what happened in 2008-2009, which was worse than the previous economic setback because the debt was so much higher. Well now the debt is staggeringly much higher, and so the next economic problem, whenever it happens and whatever causes it, is going to be worse than in the past, because we have these unbelievable levels of debt, and unbelievable levels of money printing all over the world. Be worried and get prepared. Now it [a collapse] may not happen until 2016 or something, I have no idea when it’s going to happen, but when it comes, be careful.”

-Lindsey Williams: “There is going to be a global currency reset.”

-CLSA’s Russell Napier: “We are on the eve of a deflationary shock which will likely reduce equity valuations from very high to very low levels.”

-Oaktree Capital’s Howard Marks: “Certainly risk tolerance has been increasing of late; high returns on risky assets have encouraged more of the same; and the markets are becoming more heated. The bottom line varies from sector to sector, but I have no doubt that markets are riskier than at any other time since the depths of the crisis in late 2008 (for credit) or early 2009 (for equities), and they are becoming more so.

-Financial editor Jeff Berwick: “If they allow interest rates to rise, it will effectively make the U.S. government bankrupt and insolvent, and it would make the U.S. government collapse. . . . They are preparing for a major societal collapse. It is obvious and it will happen, and it will be very scary and very dangerous.”

-Michael Pento, founder of Pento Portfolio Strategies: “Disappointingly, it is much more probable that the government has brought us out of the Great Recession, only to set us up for the Greater Depression, which lies just on the other side of interest rate normalization.”

-Boston University Economics Professor Laurence Kotlikoff: “Eventually somebody recognizes this and starts dumping the bonds, and interest rates go up, and inflation takes off, and were off to the races.”

-Mexican Billionaire Hugo Salinas Price: “I think we are going to see a series of bankruptcies. I think the rise in interest rates is the fatal sign which is going to ignite a derivatives crisis. This is going to bring down the derivatives system (and the financial system).

There are (over) one quadrillion dollars of derivatives and most of them are related to interest rates. The spiking of interest rates in the United States may set that off. What is going to happen in the world is eventually we are going to come to a moment where there is going to be massive bankruptcies around the globe.”

-Robert Shiller, one of the winners of the 2013 Nobel prize for economics: “I’m not sounding the alarm yet. But in many countries the stock price levels are high, and in many real estate markets prices have risen sharply…that could end badly.”

-David Stockman, former Director of the Office of Management and Budget under President Ronald Reagan: “We have a massive bubble everywhere, from Japan, to China, Europe, to the UK. As a result of this, I think world financial markets are extremely dangerous, unstable, and subject to serious trouble and dislocation in the future.”

And certainly there are already signs that the U.S. economy is slowing down as we head into the final weeks of 2013. For example, on Thursday we learned that the number of initial claims for unemployment benefits increased by 68,000 last week to a disturbingly high total of 368,000. That was the largest increase that we have seen in more than a year.

In addition, as I wrote about the other day, rail traffic is way down right now. In fact, for the week ending November 30th, U.S. rail traffic was down 16.3 percent from the same week one year earlier. That is a very important indicator that economic activity is getting slower.

And we continue to get more evidence that the middle class is being steadily eroded and that poverty in America is rapidly growing. For example, a survey that was just released found that requests for food assistance and the level of homelessness have both risen significantly in major U.S. cities over the past year…

A survey of 25 American cities, including many of the nation’s largest, showed yearly increases in food aid and homelessness.

The cities, located throughout 18 states, saw requests for emergency food aid rise by an average of seven percent compared with the previous period a year earlier, according to the US Conference of Mayors study, published Wednesday.

All but four cities reported an increase in demand for assistance between the period of September 2012 through August 2013.

Unfortunately, if the economic experts quoted above are correct, this is just the beginning of our problems.

The next wave of the economic collapse is rapidly approaching, and things are going to get much worse than this.

So what do you think?

Which of the individuals quoted above do you think are right on the money and which ones do you think are way off base?

Please feel free to share what you think by posting a comment below…


TOPICS: Business/Economy; Chit/Chat; Conspiracy; Government; Miscellaneous; Society
KEYWORDS: bubbles; collapse; debt; derivatives
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Comments section in original.

We are so screwed.

1 posted on 12/13/2013 7:19:47 PM PST by Tolerance Sucks Rocks
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To: 3D-JOY; abner; Abundy; AGreatPer; Albion Wilde; AliVeritas; alisasny; ALlRightAllTheTime; ...
PING!
2 posted on 12/13/2013 7:20:25 PM PST by Tolerance Sucks Rocks (...)
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To: Kartographer; null and void

BING!


3 posted on 12/13/2013 7:20:52 PM PST by Tolerance Sucks Rocks (...)
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To: Tolerance Sucks Rocks

Feh, Bammy sayz things are GREAT!


4 posted on 12/13/2013 7:26:34 PM PST by Paladin2
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To: Tolerance Sucks Rocks

Boner and McConnel are more interested in destroying the Tea Party than worrying about this little stuff.

That alone tells you that we are in real trouble and that fixing the problems is not a priority.

So we are screwed.


5 posted on 12/13/2013 7:30:15 PM PST by old curmudgeon
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To: Tolerance Sucks Rocks

BookMark


6 posted on 12/13/2013 7:34:07 PM PST by thesearethetimes... ("Courage, is fear that has said its prayers." Dorothy Bernard)
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To: old curmudgeon

I’m ok I have all my money in a 401k. The rest is insured by FDIC.

yes /s


7 posted on 12/13/2013 7:39:50 PM PST by driftdiver (I could eat it raw, but why do that when I have a fire.)
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Comment #8 Removed by Moderator

To: Tolerance Sucks Rocks

Not much to laugh about, is there?

9 posted on 12/13/2013 7:49:55 PM PST by ChildOfThe60s ((If you can remember the 60s.....you weren't really there)
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To: Tolerance Sucks Rocks

Government statistics measuring unemployment, inflation, and GDP have been so doctored to appear better than they really are, we might already be in a depression without even knowing it.

On the other hand, the price/earnings ratios of the Dow Jones and S&P 500 averages are very stable, in the 16-18 range, so major financial collapses of the type being prophesied don’t seem imminent.


10 posted on 12/13/2013 7:50:03 PM PST by Bluestocking
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To: Tolerance Sucks Rocks
If the crisis is going to be based on derivatives as Slim suggests, then we will hear absolutely nothing until the risk has been fully transferred to the taxpayers.

Just like last time.

11 posted on 12/13/2013 7:53:22 PM PST by who_would_fardels_bear
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To: ChildOfThe60s; All

Did I miss it? I saw no mention of the economic effect of OSHIT, (Obama Socialized Health Insurance Tax)?


12 posted on 12/13/2013 8:06:19 PM PST by Graewoulf (Democrats' Obamacare Socialist Health Insur. Tax violates U.S. Constitution AND Anti-Trust Law.)
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To: Tolerance Sucks Rocks
The cities, located throughout 18 states, saw requests for emergency food aid rise by an average of seven percent

I've been volunteering at the Salvation Army food pantry and things are certainly looking bad. The manager said their requests are noticeably higher this year. Today a guy came in and was very embarrassed to ask for food, explaining that he did have a job and worked. "....But the kids keep complaining there's no food in the house."
13 posted on 12/13/2013 8:10:01 PM PST by neefer (Because you can't starve us out and you can't make us run.)
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To: Tolerance Sucks Rocks
I have been seriously prepping for about a year now as best I can to keep my family going in case of a "shock event". I have some more to do for the short haul (i.e., make it through a winter) but now shifting my prep's for the long haul when there are no more grocery markets. Beyond that, a lot of us would do well to start stocking up on common things that will be worth lots down the road. If you live in the north east, how much would you pay for a single bic or zippo lighter or What about a hatchet? How about some anti-biotics today or maybe some shoe laces? Now, imagine these simple things that can be had within 45 minutes pretty much wherever you are today not existing in five years? How much would they be worth then?
Beyond being self sufficient, think about what will be useful in trade.
14 posted on 12/13/2013 8:38:24 PM PST 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: old curmudgeon

I’ve shifted my thoughts on them (and quite a few others for that matter). I think they know what is coming down the pike and are angling to make their lives as comfortable as possible (i.e., keep on keeping on when everything else outside is burning to the ground). Lets face it, when everything collapses, realistically, what are these guys gonna do in a world filled with chaos and war?


15 posted on 12/13/2013 8:42:49 PM PST 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: Tolerance Sucks Rocks

shtf scenario


16 posted on 12/13/2013 9:02:25 PM PST by tsomer
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To: old curmudgeon

“Boner and McConnel are more interested in destroying the Tea Party than worrying about this little stuff.”

DC is in its own little bubble. They simply don’t have time to be concerned with things like the economy or the middle class.


17 posted on 12/13/2013 11:41:00 PM PST by headstamp 2 (What would Scooby do?)
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To: Tolerance Sucks Rocks

There is no leadership in DC. Don’t look to them for answers.


18 posted on 12/14/2013 1:08:54 AM PST by VRWC For Truth (Roberts has perverted the Constitution)
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To: Paladin2

“Bammy sayz things are GREAT”

Thats when you know you are screwed, blued and tatooed. :-)


19 posted on 12/14/2013 8:59:41 AM PST by Georgia Girl 2 (The only purpose of a pistol is to fight your way back to the rifle you should never have dropped.)
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To: VRWC For Truth

You got that right!


20 posted on 12/14/2013 10:40:30 AM PST by Tolerance Sucks Rocks (...)
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