It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
If Nostradamus were alive today, he'd have a hard time keeping up with Gerald Celente. — New York Post
When CNN wants to know about the Top Trends, we ask Gerald Celente. — CNN Headline News
Gerald Celente has a knack for getting the zeitgeist right.— USA Today
A big, expensive cube to store cash and valuables might not seem high on a recessionary shopping list. But sellers of safes said that business was up as customers confront new fears, be they losing money in failing banks or being robbed by desperate fellow New Yorkers. And they could get busier with the news that the chairwoman of the Federal Deposit Insurance Corporation warned banks this week that its fund could become insolvent this year if they continue to close or fail to pay their annual assessments.
Originally posted by questioningall
Get prepared - that is all anyone can say at this point.........
As in the Great Depression, world trade is collapsing, wealth is evaporating and the banking system is broken. Deflation is a growing threat as companies slash production, pay and prices. And leaders worldwide are having difficulty making headway in halting the self-perpetuating decline.
“We are tracking 1929-1930,” says Barry Eichengreen, a professor of economics and political science at the University of California, Berkeley.
The result: This contraction may leave a lasting imprint on the economy and society, just as the Depression did. In the wake of the devastation of the 1930s, Americans swore off stocks, husbanded their own resources and looked to the government for help. Now, another generation might draw some of the same lessons from the deepest economic collapse of their lifetime.
“This is going to scar the collective psyche,” says Mark Zandi, chief economist at Moody’s Economy.com in West Chester, Pennsylvania. “People will become much more conservative in borrowing, lending and investing.”
There’s no official definition of what qualifies as a depression. In the 1930s, the unemployment rate rose to 25 percent and the economy shrank by more than a quarter.
Originally posted by Pappie54
Well Buffet is on CNBC right now and I'll go with his view of what is going on and he says Obama is the right man at the right time and we will come out of it and I'm with him.
“It has fallen off a cliff,” said Buffett, chairman of Berkshire Hathaway, in an interview that aired on CNBC’s Squawk Box early Monday. “Not only has the economy slowed down, people have changed their behavior like nothing I have ever seen.”
Originally posted by antar
Why did they simply ignore the trickle up theory?
Because it was never about bailing out the economy, it was a rouse to stuff the pockets of the already shamefully rich, those guys fear that after the rioting the starvation and disease that it is going to take trillions to be what a meager millionaire is in todays economy.
“We’ve had customers come in who are putting half a million to a million dollars in cash in a safe in their home,” said Richard Krasilovsky, 58, of Empire Safe in Midtown, where Ellen was shopping.
Originally posted by Ahabstar
reply to post by cindymars
I would highly recommend reading the Survival Forum and make preparations. A packet of heirloom seeds is worth more than gold when you need it...lighter too. But if it is never needed, at least it did not cost as much as many other things like DVD's and CD's did that would be worthless should society breakdown.