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Seeking Alpha: The Greatest Depression Is Coming

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posted on Oct, 17 2009 @ 05:54 PM
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According to Seeking Alpha,


We are in the opening stages of the Greatest Depression, a term coined by Trends Forecast founder Gerald Celente. The next stage, as Mr. Celente has said, will be “like nothing we've ever seen in our life time.”

Welcome to the Greatest Depression.


Seeking Alpha Link

I know some people like Celente, and some think he's full of sh*&, but I keep seeing more and more articles that we're in the beginning of the end. Call it fearmongering, call it panic, but are we in a downward spiral?

Speaking as someone who has lost my job, lost my unemployment funding, and is grasping at daily Craigslist "gigs" for cash on the side, these times have hit my husband and I hard. His job is stable, but not enough to pay the bills by himself. We have a lien against the house and are scraping to get enough to pay it off.

Are there any more of you out there who are really, really, on the "verge" of losing it all? Do you feel that we can all get out of this ok or are tough times ahead? I'm frustrated that the Stock Market is continuing to fill the pockets of the rich while many hard working citizens can barely afford to put food on the table.

What do you all think of this? How have you been personally affected? What lies ahead for you and your family, and what do you see the next 5 years looking like?




posted on Oct, 17 2009 @ 06:13 PM
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There's about a dozen (12) major 'wrong' things taking place that will (according to Celente) lead to a Great Depression #2...


first , #1: is the FED .00-.25% interest rate...

all that's gonna do is enlarge & extend the USD 'carry trade', where the
primary banks borrow fed money at 0$ then either buy commodities like gold....or buy 2 yr. Treasuries at 3%...or invest in stuff like Swiss/Norway Paper at 4% or more.... in any event they are using FREE money
and pocketing handsome & guaranteed returns...

? think the banks/primary dealers/etc which are getting TARP or other credit/exchange monies are not going to do everything possible to prolong the USD 'carry trade' venue???

Nope..in fact they= along with the FED & Treas (under the outward 'cover' known as Goldman Sacs) are going to play the FOREX to pump-&-dump the USD in cycles---for their profit....and the added benefit of reducing the USA trade debt obligations, by paying them off in 'cheaper dollers'

IOW, the devalued dollar makes these elites mucho-money !!!


as the crises transpires i may enumerate the workings of the other 11
tactics....


night



[edit on 17-10-2009 by St Udio]



posted on Oct, 17 2009 @ 06:21 PM
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reply to post by St Udio
 


So, St Udio, do you think eventually the Fed and Treasury are going to dump the dollar completely? Or do you think they'll keep it but it will be greatly devaluated?



posted on Oct, 17 2009 @ 07:22 PM
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Everyone I know, from top to bottom, is having problems. And I live in Texas where everything is better than the other states. Its a suckers game. They are leading sheep to the slaughter. Dont be fooled by the market. Prepare yourself for what is coming the best you can. They know we are going down and they are preparing for it. The banks are robbing us and the admin wants us to go down to further their agenda. Those that speak out will be attacked. All I can say is hold on tight and get ready for the ride of your life. Remember to do the right thing when the time comes. If enough people do the right thing when it matters, we might just save our country and the world to boot! If not, say hello to hell on earth.

Or.........

Everything is fine. The market has turned around. Obama is great and his administration is going to fix everything. Dont worry. The government has everything under control!



posted on Oct, 17 2009 @ 07:42 PM
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I just turned 29 and really don't have much of anything living right now with parents and brother and his evil furry cat Martin. Lol Anyhoo yeah times are tough but remember we still live in the best nation in the world just keep on keeping on we'll be fine sooner or later.

[edit on 10-04-08 by Beach Bum]



posted on Oct, 17 2009 @ 07:49 PM
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While Im not a man who buys easily into fear-mongering scenarios by any means, I do find myself in what is without doubt the darkest financial times of my life.

It does seem to me that it is entirely likely we are right on the verge of what history may one day regard as America's darkest hour. The hard times are shared by many out here.


Good luck to us all.



posted on Oct, 17 2009 @ 08:34 PM
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reply to post by Morbo the Annihilator
 

Alot of evidence that Celente is right is posted in a story I put up
several months ago.

Financial Collapse Summary

Add to it the fact that we just saw the most foreclosures in a 90
day window than any other time in the countries 230+ year history.

90 day Foreclosure rate at highest in US history

Yes, you read that right, its higher than the Great Depression.

1,000+ cargo ships sitting cold iron with their crews let go also.

It is called the Ghost Fleet of the Recession.

The biggest and most secretive gathering of ships in maritime history lies at anchor east of Singapore. Never before photographed, it is bigger than the U.S. and British navies combined but has no crew, no cargo and no destination - and is why your Christmas stocking may be on the light side this year.

Singapore Ghost Fleet of over 500 ships

Additional locations take the total number of ships closer to 1,000 ships
with no cargo to haul.

Additional 500+ ships anchored out near Subic Bay

I do not lay all the blame for this at the feet of the current president,
but those who pull the strings behind the scenes at the CFR meetings,
and the Bilderberg meetings.

Most of the left and right are bought and paid for in this country.

Everything is not fine, things are not getting better, its all lies,
and both the left and right have been guilty of lying many times
in the past so forgot the left-right divide and conquer rhetoric.

Good Luck to you all !



posted on Oct, 17 2009 @ 08:42 PM
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I follow Elliottwave international and others and from what I've read this Depression will be worse than the Great Depression. Unemployment as compared to the Great Depression may top out around 33 percent I've heard when comparing apples to apples instead of not counting so many people today using current official methods. I believe if you go to shadowstats you can find the unofficial unemployment rate is above 16 or above 19 percent if it was measured like it used to be.

I've seen a chart that indicated the unemployment rate was rising very much like it did during the Great Depression. The Great Depression even had a 50 percent bear market rally after the initial crash in 1929. Deja vu? Then things started to get worse and worse. I believe the worst is yet to come. Our current government thinks they can spend and borrow their way out of everything but eventually I believe they will need to raise interest rates sooner or later and that will really hurt our economy even more. I've also read that the central banks are not needed. They only raise or lower official interest rates based on the change in yield on 3 month Treasuries. When those rates start going up, the Fed will suddenly decide they need to raise interest rates and give whatever excuse they need to. I'm thinking they'll say they are fighting future inflation. I'm guessing but I'm thinking this could happen as early as March 2010. I believe the stock market will bottom in 2012 or 2016 depending upon how bad our government keeps spending and borrowing like there is no tommorrow. I also believe they may drive the market up higher to get as many ordinary small time investors in the market before it crashes again.



posted on Oct, 17 2009 @ 08:55 PM
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Anybody that has follow up the markets downfall and booming events of the past few days, knows that they have been manipulated for the benefit of the few.

Yes while JP Morgan is helping boost the prices of gold, Goldman sach was pushing the DOW to 10,000 because their biggest pay off (thanks to the generosity of the tax payer of the nation that now lies unemployed and destitute), their outrageous to be pay soon bonuses the biggest ever while the rest of the nation is on a recession.

BTW Goldman Sach is also now boosting the prices of oil futures, get ready to start getting the pinch at the gas pumps.



posted on Oct, 17 2009 @ 09:01 PM
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I've seen the pinch. In just 3 days, gas prices have increased over 12 cents a gallon where I live at. I often go out on the weekend. Tonight I decided to stay home. If millions of other Americans decide to do the same thing, maybe gas prices will drop. I believe oil prices are being driven up without the demand being there.



posted on Oct, 17 2009 @ 09:06 PM
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reply to post by orionthehunter
 


As usual is not surprise to me, because I remember very clear when the oil producer countries were telling the pushers of oil futures to drive the futures higher because they wanted the oil to reach 100 dollars a barrel before the year is over.

It was on TV for all to see, but as usual most people are to busy with American idol and the latest sex scandal to even notice things that will be affecting their pockets eventually.



posted on Oct, 17 2009 @ 10:00 PM
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Yes were struggling mightly here. Just trying to get by. Just trying to hold off as long as possible before we have to pull the financial plug and start all over again. But dont worry, the banks are doing fine, Just in my town they are building 3 brand new ones! I wonder where they got the money?



posted on Oct, 18 2009 @ 02:11 AM
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Originally posted by liveandletlive
Prepare yourself for what is coming the best you can. They know we are going down and they are preparing for it.... All I can say is hold on tight and get ready for the ride of your life.
quote shortened by Morbo

Luckily my hubby knows I'm a bit of an over-preparer. We have copius amounts of canned goods and enough dog food to last the better part of 6 months (but I'll probably go and buy more just in case).

My parents live on a 32 acre lot of property in the mountains that is sustainable for some time - well water with a 2500 gallon storage (and a manual pull as well), wood stove w/ firewood, vegetable garden, and enough wild animals to live off the land for a while. Our only concern is that my parents haven't converted the elecricity to solar yet. We're working on training our terrier to do her terrier things - chase rabbits, squirrels,

So if things get REALLY bad, we'll be okay for a while, hopefully.



posted on Oct, 18 2009 @ 02:18 AM
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Originally posted by Clark Savage Jr.
While Im not a man who buys easily into fear-mongering scenarios by any means, I do find myself in what is without doubt the darkest financial times of my life.


Same for us, too. We've struggled before, but NOTHING like this. We've always had at least a little cash to go out to dinner. My 30th b-day is next week and we can't even afford a cake - I'll be making my own.



posted on Oct, 18 2009 @ 02:34 AM
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Originally posted by Ex_MislTech
Alot of evidence that Celente is right is posted in a story I put up
several months ago.

Financial Collapse Summary


Yeah, I didn't add to that thread (wasn't a member yet) but did read along. I'll have to go back and re-read what I don't remember.



Add to it the fact that we just saw the most foreclosures in a 90
day window than any other time in the countries 230+ year history.


I saw that thread here on ATS as well. Totally shocking that there are so many foreclosures. I mean, I knew there were alot, but I didn't realize that we were breaking ALL the records yet.



posted on Oct, 18 2009 @ 02:48 AM
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Originally posted by orionthehunter
I believe if you go to shadowstats you can find the unofficial unemployment rate is above 16 or above 19 percent if it was measured like it used to be.


Yeah, last I heard it was around 17%.



I've seen a chart that indicated the unemployment rate was rising very much like it did during the Great Depression. The Great Depression even had a 50 percent bear market rally after the initial crash in 1929. Deja vu?


I saw that too. Theres a thread on ATS about Oct 25 & Web Bot (not sure which one it is though) and it contained a link saying that the great depression had a rally that lasted some 158 days (or similar) and that 158 days from March 8 is Oct 25. So if we crash sometime soon, we will have followed the great depression almost to a T.



Then things started to get worse and worse. I believe the worst is yet to come. Our current government thinks they can spend and borrow their way out of everything but eventually I believe they will need to raise interest rates sooner or later and that will really hurt our economy even more.


And I think that inflation/super-inflation/hyper-inflation will be the final nail the coffin. Like you said, inflating prices on an already hurting working force will destroy whatever is left of them.



posted on Oct, 18 2009 @ 02:52 AM
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Originally posted by marg6043
BTW Goldman Sach is also now boosting the prices of oil futures, get ready to start getting the pinch at the gas pumps.


Yeah Marg. I agree with you and Orion. I have already started seeing prices rise. Hubby said that prices would go down after labor day, but they didn't. And now, prices are even higher. I paid $3.49 a few days ago for gas (it was premium, but I have a turbo engine which requires premium
)



posted on Oct, 18 2009 @ 02:55 AM
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reply to post by crw2006
 


Yep. As the saying goes "the rich get richer and the poor get poorer."

Totally appropriate during these times.



posted on Oct, 18 2009 @ 03:15 AM
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The future is uncertain to say the least. From all of the different material I've read (and I read as much as I can) it is highly unlikely we are in a stage of "recovery." Despite what the television would like you to believe I feel quite convinced that the stock market is once again inflated, although not as much as it was before this whole thing began. The housing market is not at the bottom, it took it's worst beating ever this third quarter. Job losses are still rolling in. The long term value of the dollar is in question. Inflation is a global concern. Many things remain unfixed with the banking system that got us here in the first place.

The thing that bothers me the most are all the people who seemed to be so focused on "getting back to normal." What was considered normal was unsustainable, that's why everything fell apart. Our economy has been cyclical for awhile now so maybe people are just used to the booms and busts, but 03-05 is not normal. Constant growth and profit is not possible on a finite scale. I imagine all of those who want a return to normalcy are the ones who made the most profit off of this last bust to begin with. Now they are hoping for a nice, fat round two.

It's time for America to get back to basics and start living on needs rather than wants. Pay off your debt, shift your investments away from the stock market, pay attention to the banks you're using and the FDIC that is supposedly protecting your account. It's time for a straight and narrow period of life. No more fast and loose.



posted on Oct, 19 2009 @ 03:04 PM
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I think Tom Waits put it best:

www.youtube.com...

I'd sell your heart to the junkman baby
For a buck, for a buck
If you're looking for someone
to pull you out of that ditch
You're out of luck, you're out of luck

The ship is sinking
The ship is sinking
The ship is sinking
There's leak, there's a leak,
in the boiler room
The poor, the lame, the blind
Who ore the ones that we kept in charge
Killers, thieves, and lawyers

God's Away, God's away
God's away on Business. Business. God's Away,
God's Away God's Away on Business. Business.

Digging up the dead with
a shovel and a pick
It's a job, it's a job
Bloody moon rising with
a plague and a flood
Join the mob, join the mob
It's all over. It's all over, It's all over
There's a leak, there's a leak,
in the boiler room
The poor, the lame, the blind
Who are the ones that we kept in charge?
Killers, thieves, and lawyers
God's away. God's away, God's away
On Business. Business.
God's away, God's away. God's away
On Business.

Instrumental Break
Goddamn there's always such
a big temptation
To be good, To be good
There's always free cheddar in
a mousetrap, baby
It's a deal, it's a deal
God's away, God's away, God's away
On Business. Business.
I narrow my eyes like a coin slot baby,
Let her ring, let her ring
God's Away, God's Away
God's Away on Business.
Business..........


[edit on 19-10-2009 by wanderingwaldo]



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