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Originally posted by wycky
This is the latest i received from Trends Research (Gerald Celente). Thought it may interest some of you.
KINGSTON, NY, 13 May 2009 -- The biggest financial bubble in history is being inflated in plain sight, said Gerald Celente, Director of The Trends Research Institute. "This is the Mother of All Bubbles, and when it explodes," Celente warns, "it will signal the end to the boom/bust cycle that has characterized economic activity throughout the developed world."
Either unwilling or unable to call the bubble by its proper name, the media, Washington and Wall Street describe the stupendous government expenditures on rescue packages, stimulus plans, buyouts and takeovers as emergency measures needed to salvage the severely damaged economy.
"All of this terminology is econo-jargon," said Celente. "It's like calling torture 'enhanced interrogation techniques.'
Washington is inflating the biggest bubble ever: the 'Bailout Bubble.' "This is much bigger than the Dot-com and Real Estate bubbles which hit speculators, investors and financiers the hardest. However destructive the effects of these busts on employment, savings and productivity, the Free Market Capitalist framework was left intact. But when the 'Bailout Bubble' explodes, the system goes with it."
The economic framework of the United States has been restructured. Federal interventionist policies have given the government equity stakes, executive powers and management control of what was once private enterprise. To finance these buyouts, rescue and stimulus packages -- instead of letting failed businesses fail and bankrupt banks and bandit brokerages go bankrupt -- trillions of dollars are being injected into the stricken economy.
Phantom dollars, printed out of thin air, backed by nothing ... and producing next to nothing ... defines the "Bailout Bubble." Just as with the other bubbles, so too will this one burst. But unlike Dot-com and Real Estate, when the "Bailout Bubble" pops, neither the President nor the Federal Reserve will have the fiscal fixes or monetary policies available to inflate another.
With no more massive economic bubbles left to blow up, they'll set their sights on bigger targets. "Given the pattern of governments to parlay egregious failures into mega-failures, the classic trend they follow, when all else fails, is to take their nation to war," observed Celente.
Since the "Bailout Bubble" is neither called nor recognized as a bubble, its sudden and spectacular explosion will create chaos.
A panicked public will readily accept any Washington/Wall Street/Main Stream Media alibi that shifts the blame for the catastrophe away from the policy makers and onto some scapegoat.
"At this time we are not forecasting a war. However, the trends in play are ominous," Celente concluded. "While we cannot pinpoint precisely when the 'Bailout Bubble' will burst, we are certain it will. When it does, it should be understood that a major war could follow."
[edit on 13/5/2009 by wycky]
Some housing markets are now showing an upward price trend, the unemployment numbers are beginning to level out, and the stock market has shown a stellar rise of around 20% since Feb - the strongest future recovery indicator there is.
Most significantly, the dollar is kicking butt on the Forex, the pound was trading at $2 not so long ago, now it's $1.50. If you print too many banknotes, you devalue the currency, and the dollar trend is UP.
On a personal note, my 401k is up 17% and my company just made our bonus numbers - so from a personal or national perspective I'm just not seeing the problem.
This guy is a day late and a dollar short with his doom mongering. Our economy is going to emerge even stronger from this than it was in 2007.
Originally posted by Rockpuck
Housing prices have dropped.
And housing prices are not "the strongest indicator of recovery" .. you are buying into all the BS fed to you from the Housing BUBBLE ...
The Dollar has dropped to several month lows compared to World currencies.. is the exchange better then it was in 07? Ya, but only because Europe has fallen harder then the US, not that the US has recovered in any way.
It's not a recession until it effects you. If we use your logic I have been unemployed since January... I guess that means we are in a depression!
Won't be hard to do, in 2007 our economy was cancer ridden and crippled from the inside out.. while the Gov showed up once a week to tell you not to withdraw your retirement savings and that all was just peachy.. while they themselves got out.
Turn off your TV.. it's lying to you.
Originally posted by Retseh
only idiots whine about the unfairness of being stupid and ill informed.
Originally posted by jeffsmathers
The guy at the Car Lot is flying his balloons and is ready to give you a loan you can't believe is true ! Zero percent down and 12 months of no payments.
The car he is selling is no longer being produced by the manufacturer, but the 'agency' giving the loan for your purchase says they will back the warrenty as long as the company is solvent.
The loan money will be printed for your car as soon as you authorize the loan .... well, as long as they assume you may purchase it, they will go ahead and print the money up ahead of the agreement.
The gentleman waiting there behind you will be given his car for free based on the equity of the loan you 'will' make, and you will also be liable for his loan as well because his SUV payments became too large for him to manage.....