Code Red: Economy in Collapse - Drastic Actions Will Be Taken

CODE RED: Economy in Collapse - Drastic Actions Will Be Taken

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President Barack Obama will use his poll shattering popularity to swiftly enact policies that will prove to be among the most costly and potentially destructive in America's history, predicts Trends Research Institute Director Gerald Celente.

"We are forecasting dramatic measures will soon be taken by the Obama Administration that will worsen the credit crisis and severely damage the nation's economic system," says Celente.

According to The Trends Research Institute Director, the new President who swept into the White House on a tidal wave of unprecedented enthusiasm and the blessings of a strong majority, will have free reign to take whatever actions he deems necessary.




"Whatever Obama wants, Obama gets. Desperate, scared and not knowing what to do to survive the economic storm, people are seeking a messiah to save them, and Obama is their man," said Celente. "When fear rules, reason and logic are ruled out." (According to an AP poll, 71 percent of Americans believe the economy will improve during the first year of the Obama presidency.)

The 332-point stock market decline that greeted Mr. Obama into office (a record breaker for Inauguration Day) and today's 105-point market decline will be followed by a steady stream of worsening economic news and major financial calamities, Gerald Celente forecasts. Just as President Bush exploited 9/11 as a pretext to wage the War on Terror, invade Iraq, abrogate the Constitution and exert broad Executive powers (with bipartisan and majority public support), President Obama will be given even greater latitude to fight a war on economic terror, predicts Celente.


For example, Timothy Geithner, President Obama's nominee for Treasury Secretary, has pledged to expand and prolong government intervention in the financial markets. He said his economic team would take "forceful" and "substantial action" on a "very dramatic scale" to "forge an integrated strategy on how best to achieve currency realignment."

Celente advises to closely read the signals that have been clearly telegraphed by Mr. Geithner. "From proclaiming a bank holiday, confiscating gold to backstop devaluing currencies, mega-bailouts for the too-big-to-fails ... to nationalizing public firms and dollar devaluation ... whichever of these or other actions are taken, the financial burden will fall on the American people," Celente forecasts.

(visit the link for the full news article)

Mod edit: fixed link

Mod Edit: All Caps – Please Review This Link.

[edit on 24 Jan 09 by Gools]

Obamamania is in full effect. the controlled economic colapse of the world markets has left people beging for a solution any solution. under this pretext obama will gain more power and influence over the american people than any other president in american history. we cant let hard financial times and a president that people think is god, ruin our democratic society and burn the constitution that millions have died to protect.

app.e2ma.net...:CampaignPublic/id:21873.1666099503/rid:26143f82ba03b59916b9b450748a05e8" target="_blank" class="postlink">https:
(visit the link for the full news article)

what are your veiws on the current situation

ummmmmmm.....how about a working link.....

thanks

app.e2ma.net...:CampaignPublic/id:21873.1666099503/rid:26143f82ba03b59916b9b450748a05e8


45 minutes of Celente

www.financialsense.com...

Open link and click on Gerald Celente's pic. Once open, click on MP3 to hear it.....

Originally posted by invisibleman11

CODE RED: Economy in Collapse - Drastic Actions Will Be Taken

[

For example, Timothy Geithner, President Obama's nominee for Treasury Secretary, has pledged to expand and prolong government intervention in the financial markets. He said his economic team would take "forceful" and "substantial action" on a "very dramatic scale" to "forge an integrated strategy on how best to achieve currency realignment."

first off, the presumed new Treasury Secretary, was I'm sure not Obama's
selection....Geithner is the puppet-masters choice for Treas. Secretary --> because he's from the NY Fed, lock-stock-&-barrel.

I would suggest a replacement Secretary should be from.... let's say
KansasCity.

Next, all the derivatives, which are valued in the Trillion$, should not be
given value or substance, which the Paulson's and Chairman of the NY Federal Reserve of the world have done by monetizing the bogus debt paper in the first place.


Now, the real, asset based notes/bonds/ & mortgage related paper is
a different story... that $1.5Trillion problem needs to be wound-out of the system. But surely not the rich-folks fraudulent debt-paper, which they traded amongst themselves ('paper' with no assets or collateral to back-it-up) and created more than several 100 Trillion of these private 'bets'...
which Fed & Treas are in the process of Bailing-Out to the detriment of
the US Taxpayer.

If Obama wants to 'save' the financial system... he would be advised to
make a distinction between the mortgage debts/bonds/papers...
And the Default Swaps/SIVs/CDOs, interest-rate swaps, & the myraid of
betting slips we generalize as 'derivatives' (debt-out-of-thin-air)
which is then exchanged for Reserve-Notes-out-of-thin-air,
which in turn is collapsing the whole global financial system which once was based on "Trvst"


thanks

Please fix the link(s)

One is to a *log in* site - nothin gmore.

The other for audio/video presentations.

Thank you

this one should work
revolutionradio.org...

"first off, the presumed new Treasury Secretary, was I'm sure not Obama's
selection"


how in the world is Geitner not Obamas pic for treas. sec?
its his cabinet he makes the appoitments

The economy by many was supposed to completely collapse in sept. Then it was oct 17th. Then Nov. We didnt hear much in dec., but now that Obama is in office I am sure we are going to get back to threads about the economy is surely going to collapse. I am not saying we are in bad shape. We are, just like the rest of the world. And it isnt going to be fixed this year. I predict we will start pulling out of it in the beginning of it next year with the economy bottoming out in the 3rd quarter of this year.

And how are we going to pull out of the free fall? There are no more industries for Americans, no plants or factories, nothing to produce! This is going to be a nightmare.

reply to post by crw2006


My thoughts exactly....

Better start preparing. A good podcast that I subscribe to talks about real solutions for this type of future. Solutions like growing your food, storing food, having a bugg out location, etc.

www.thesurvivalpodcast.com...

reply to post by invisibleman11


This seems to me to be a biased view.

From what I see, Celente offers no alternatives, no other solutions, just dumps on everything Obama is suggesting without much to back it up.

It's a fact that the larger companies will get bail out money first, because there are thousands of other smaller companies relying on supplying those companies. If they were to fail there would be massive injections of unemployment into the system, and the system is already struggling.

A smaller business relies on fewer suppliers, therefore fewer employees would be out of work should they sink.

As I have always said, the government knows what is going to happen, the end of the $.
Handing out billions to the massive companies is only to slow the process and delay the collapse as long as possible, while sustainable business is encouraged and supported. That's Obama's plan, to create employment opportunities in social structure, green initiatives (such as the fantastic TINY motor perhaps?) energy independence and so on. These industries would replace those failing, and under a new currency not bogged down in debt.
They are not too bothered about how many billions go, because the $ will be destroyed soon anyway.

That's my theory.
In the meantime, yes, people will struggle. But the majority will be those who've already lived far beyond their means and without restraint.

People need to worry about the elderly, disabled, genuinely unemployed, and young families. Like in California, the welfare system has to remain intact in each state as a priority. The consequences of its collapse in any state far outweigh the costs of keeping it running.

While I don't agree with big business getting the money from a moral and just perspective, it really is not an option to allow them to fail and see millions of people flood the welfare systems.

You watch, after Obama has given the money, there will be tighter controls on financial institutions. They will be forced into lending again to support businesses.
Once that doesn't work, the $ will collapse, another raft of new businesses will be developed, new industry for the modern world, and the $ will have been replaced. Banks will no longer be permitted to run the risks while expecting the masses to pay for it.

reply to post by St Udio


You nailed it. It's not the bad loans that have crashed the system. It is the huge amount of derivatives along with mark to market accounting that is bringing everything down. The simplest solution would be to just cancel all these illegal insurance contracts. Those who are on the right side of these instruments(read Goldman Sachs) are doing whatever they can to destroy the underlying companies. The treasury is handing out money so the right side boys can get paid. It is disgusting and should land these folks in jail for the rest of their lives.

Only solution out of this at this point is to have the federal reserve buy all outstanding loans at near full value and once that is done eliminate the federal reserve and wipe the slate clean. Then recreate the banking system on a much more regulated and sustainable ground. It can all be done with limited pain.

reply to post by crw2006


All hail our problem and state of affairs!

This one problem of not having a healthy manufacturing base is what has turned us into a society of CONSUMERS and not PRODUCERS. No production means no INCOME! So we make some crappy cars and a few trucks that actually last. We go to war and get a few bucks of production that comes no where close to covering the cost of the wars in the first place. There is very little else that the American people now make. Sure less than 10% of our population produces foods of some sort but VERY little else. As it is cheaper to just import hordes of crap products that are meant to break so we will order more.

We as the people of United States of America NEED TO GET BACK TO MAKING OUR OWN PRODUCTS! There is no way around this one people. We need to get our wage and salary to a level that can be sustained and bring down the ridiculous costs of housing utilities etc. There are 12% more homes now so they have to charge 2x's the amount for everything? ( I grabbed the 12% out of thin air for sake of argument but it isn't to much more than that on a national scale)

It is a small amount of peoples in the higher up positions that have blown our costs of living through the roof. All in the game of making an all mighty buck. This MUST be brought back down to a realistic amount. ONCE this is taken into effect and has been hashed out,then and only then will we be able to overcome this massive global take over by the Banker Elite.

They can actually take all they want! If we would just get back to basics and off our lazy butts and take the lead. There are more than enough suppliers with all kinds of parts and pieces laying around in their warehouses due to the economy. If we could all find a way to come up with contracts to take this back.We would be out of this mess in no time flat! It wouldn't take more than a year of organizing and producing to get us back on our feet and get closer to paying off these debts if only we would bring back OUR PRODUCING INDUSTRY.

I have sat around in the think tanks listening to the unbearable pee and moan of these so called super smart people. Yet not one of them can see the cold hard facts staring them in the face. How is it that a average American or European or any other nationality can see that this is what we all need to do, yet the people with IQ's over 135 cant? I will tell you; they have been conditioned just like the rest of us to accept this form of CONTROL and not step out from the big picture shown to us long enough to see the simplest of facts. We are "given" what they can make the most money off of, nothing more nothing less. Until we can all see this and collect ourselves into groups of like minded craftsman and craftswomen this isn't going to stop and we are all going to feel the pain of being in the worst mess of our recorded history.

Its time for everyone to throw away that soap box and stand on solid ground and work together. Then and only then will we see the light at the end of the tunnel that we ALL are so desperately trying to reach. xoxo stacie

so you agree with the status quo approach of giving the crooked banks trillions of dollars of tax payer money with no trail to what it is spent on, then letting them line their pockets and buy up other banks and toxic assets. simutaniously making the taxpayers who are defaulting on the bad loans pay up with interest rates of 25%, which must be paid in full to avoid foreclosure, while the private "federal reserve" prints money at the speed of light causing the U.S. dollar to hyper inflate. and then two months later ask for another bailoutbill! these banks are killing two birds with one stone. and congress is defrauding the american people. its almost like they are trying their best to implode the U.S. economy. and the american people are just going to stand by and let their messiah "fix" the problem. open your eyes!!

[edit on 24-1-2009 by invisibleman11]

America is no longer a producing country..

We are a service country, a used tissue in the trash.

To my fellow Americans, It is time to stop whining and gather in masses together. We need to start planning, not an attack, but a fall back plan for such a crisis. The shadow government has made their moves and we need to start making our own.

I for one am tired of this crap. This weird 'twilight zone' reality we live in. Make no mistake, we are in for some very hard times. As American citizens, we need to put our feelings about politics aside and band together. We have been divided too long by political views, racism, hate, ignorance and etc. But we all have 1 common cause in mind, and its freedom and liberty.

At this very point, it doesn't matter what we here at ATS have to say about Obama, It's clear Obama is a fake and is going to destroy us.

LIBERTY!

reply to post by detachedindividual


Obviously you've never heard of Celente before, He also criticized the Bush administration while he was in office. He just tells it like it is without picking sides. By the way giving money to all the top corporations is called facism isnt it?

this could easily qualify as facism but is closer to socialism or communism because the government is pretty much buying these banks