World economy headed for catastrophic meltdown?

I don't know what to make of this, but if it is true then its far more important than a war with iraq...

www.kuro5hin.org...

"The world economy is about to turn for the better." "We have reached the bottom." "The downturn is slowing down." The naive and overly optimistic comments on world economy made by economists and politicians have been reported with headlines like "Have We Reached the Bottom?" and "IMF Upbeat On World Economy".

But economists and politicians have a vested interest in the Big Lie: they are paid to produce good news, not to provide objective economic information. Almost nobody hires an economist who predicts bad times ahead. Voters don't vote for politicians who promise worse times. They both try to support the idea behind the quote above. But Bob Prechter is one economist who is not afraid to warn about a possible worldwide economic crash.

The world economy is not about to turn for the better. We have not reached the bottom. The downturn is not slowing down. The relative lull we have right now is just gaining momentum for a full-speed downward spiral. At least according to Robert Prechter. He has a book out - Conquer the Crash: You Can Survive and Prosper in a Deflationary Depression - where he conjures a scenario of impending doom, of a recession worse than anything we've seen in two hundred years, including the stock market crash of the 1920s and oil crisis of the 1970s.

He uses the Elliott Wave Theory for his predictions and maintains that we are headed to what he calls a new "grand super cycle" of the economy. Although there are examples of his previous successes as well as failures in another interview, there are people who are even more skeptical. Nevertheless, he raises several issues that are very important to address even if they don't lead to a worldwide economic meltdown.

A couple of facts regarding the economy.... In a depression, assests are concentrated into fewer hands (IE, the creditors forclose on debtors, IE, more money and therefore power ending up in the Cabals hands)

A war serves three purposes... it will in the short term create even worse economic conditions, thereby exacerbating the above fact: It will in the long term generate new economic markets, so that those who now have assests concentrated in thier possession are able to expand thier growing empire: A war also acts as a diversion to keep the sheeple from looking at what is really going on.

True indeed.
Look to the "economic security is homeland security thread" for mor from the American angle.
Poverty concentrates power better than any political governance model employed to date.

This is absolutely a major worry. I wonder why this board is not taking this clear and present danger more seriously? We need to dig deeper into this subject and do so soon.

I am surprised there are not more post about this.

Most of us don't really understand it, and the rest don't believe it

Easier to believe in aliens....

I suppose but this really is something we all need to keep an eye on. I have noticed that some of my friends and my wife who are in sales are noticing drops in business. Slow and not terribly drastic but there, just slowing enough each month to make them a bit nervous. Me too for that matter.
Bad economic times I think are heading our way.

I would imagine that clearing your debts would be the major thing you could do to protect yourself.

But beyond that ... and buying gold ... you are just a pawn...

Then I'm screwed, bought a house 2 years ago and BOTH of our cars died last year and we had to buy 2 more. Plus the little bit o credit card debt and student loans... I'm goin to debtor's prison

In reality, much of the economy is poised for a recovery.

In my business, we're seeing increased aggressive spending from our clients, a good sign.

NASDAQ is very close to the level where the market value is a bit less than the total value of the represented companies... another good sign for recovery.

However... watch those derivatives... big voodoo there... very bad... it could blow up without warning, and it would be very, very ugly.

I read that debtedness is 110% - so people owe more than they possess. America owes more than it can possibly ever pay back... and in fact it has stopped trying to

its frightening ... invest in Jesus....

The bilderburgers said....

An influential Jewish European banker reveals that the ruling elite in Europe is now telling their minions that the West is on the brink of total financial meltdown; so the only way to save their precious investments is to bet on the new global crisis centered around the Middle East, which replaced the crisis evolving around the Cold War.

www.atimes.com...

Fear mongering? or fact...

Jewish Banker? Another Zionist?

Deflation is actually a good thing, since we have been dealing with inflation, which does little good. if your dollar can buy more, people will spend more. Deflation benefits the avergae person. Im not concerned about benefits to big businesses. I have seen that you can give fat cats all the tax breaks, and benefits you like, they still will betray American workers and send jobs overseas to make even bigger profit margins.

Global economic meltdown is exactly what the world needs. Such a thing will cause revolt, revolution, and a turning over of fat stagnant corrupt govornments. Meltdown is what America needs too, to be free again.

Maybe I am too optimistic, but the dutch leading stock exhange closed about the psycological line of 300 point. And a few experts think the worst part of the ressesion(spell) is over.

Hopefully we won't encounter yet another big scandal, like Ahold a few months ago...

Originally posted by Theyre Here
In reality, much of the economy is poised for a recovery.

In my business, we're seeing increased aggressive spending from our clients, a good sign.

NASDAQ is very close to the level where the market value is a bit less than the total value of the represented companies... another good sign for recovery.

However... watch those derivatives... big voodoo there... very bad... it could blow up without warning, and it would be very, very ugly.

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what do you mean by derivatives?

if you are implying terrorisim I feel you are absolutely correct. CIA has informed America that a larger nuclear, bio, or chem attack is immenient. Islam and it's assasin's
have vowed the destruction of the U.S.
It is not a matter of if there will be an attack worse than the WTC, it is when and where [and for most of the 'paranoids' here by whom and for what ultimate reason
ie;cabal,NWO,illumanati,nazi's,Bildeberg,aliens,FEMA, DARPA, etc...] it will occur.
I feel we are rapidly approaching a point of no return. where economy will not be an issue, surrvival and freedom will be.
and in my time one of the most important realities I have discovered is to trust your feelings
"follow the path with a heart" Don Juan a Yauqi Indian from Sonora

tut

I find it hard to believe the economy is going to crash that hard. Especially when it's clearly obvious this guy is just trying to sell books. I mean, look at the title "Conquer the Crash: You Can Survive and Prosper in a Deflationary Depression" He's clearly using a scare tactic to get people to buy his book. The whole thinking behind him is "If they think the economy is going bust, and I provide them with a guide to get through it, they'll buy it"

[Edited on 16-6-2003 by JRay]

The economy is getting back were it should be. In the 90�s the dot com stocks were way over valued which is what caused the crash. The market is just leveling off and you can tell it is near the end because people are ignoring bad news but I still believe it should retrace between 7900-8300 on the dow and go back up. I was watching CNBC and they had an economist said the dow would go to 8400 before reaching 9400. It is human nature for us to be greedy and this is why the market took such a big hit. The real problem is there is really isn�t any industry that can grow right now except biotech.

[Edited on 30-6-2003 by mrhoyt]

[Edited on 30-6-2003 by mrhoyt]

I had forgotton this thread...

I don't have links to these but they appreared recently in the newspaper.

1 A chart showing the rise and decline of the Yen, superimposed over it the rise and fall of the US Dollar.

Although the yen started going down 2 years ago, the Dollar is now following its path, the graph is almost identical for both currencies.

2 An article on the impending negative inflation and the disaster it will bring to the global economy, with interest rates at 1% now, there is little room for the govt to manipulate the economy, if people start to hold off purchasing goods, expecting them to decrease in valeu, then economic meltdown will occur.

3 The rise of other curriencies to the American Dollar, Declining interests in America mean money flows overseas to better returning investments, other economies get stronger, the US dollar is leached of its value.

its happening.. ...

It might be happening but it isn't gonna hurt you too bad.

Yet again you self centred Yanks don't look at the big picture. Sometimes I want to shout at you for your arrogance. Yes, you've got the most powerful economy in the World. But there are other economies out there too. The books have to balance or you will REALLY hit hard times.

The Rest of The World needs the dollar. We won't let it be destroyed.

All you are seeing is a levelling out.