Even Forbes Magazine predecting "Greater Depression" now

Well, this isn't news to most ATSers but its interesting to see such a MSM heavywheight using the "D" word.

Forbes: Why The Greater Depression Still Lies Ahead

If policymakers do not understand the real cause of a problem, they will in all likelihood be unable to provide a genuine solution.

Messrs. Barack Obama, Benjamin Bernanke and Timothy Geithner do not understand the real cause of this debt crisis. They are politicians first and economists or students of the market second--if at all...

Since we have yet to address the real cause of this recession, we are moving inexorably closer to causing The Greater Depression. If policymakers do not understand that the progenitor of a depression is debt, they will also be unable to provide a genuine solution.

More at source:
www.forbes.com...

reply to post by silent thunder


*falls off chair and passes out from shock*

Looks like he clicked the link in my sig.



[edit on 1-7-2010 by mnemeth1]

I read the same thing on Yahoo market ticker two days ago.


Again, this has been speculated on ATS and talked about since 2007, nothing new. But I admit it does make one nervous when the MSM start printing these types of stories.

Yahoo is normally an Obama regime butt kissing site that only reports sunshine and unicorns regarding the flailing economy, but now even they are beginning to spit doom and gloom about the coming depression.


When the government controlled media starts predicting rain you had best either prepare for rain, or expect a tsunami.

It is inevitible.

reply to post by BlackOps719


He's explaining what's about to happen to us from an Austrian economic perspective as he takes a solid swipe at retarded Keynesian economic arguments.

The Austrian's saw this coming.

They know how to get us out of it.

Of course, since they are ignored, marginalized, and mocked by the MSM at every turn, we can expect total Keynesian chaos as the end result.

This depression will not end in a recovery, it will end with the total dissolution of the United States and the dollar.

greater depression + gulf oil spill = game over

Some more from Forbes.

Dan Mitchell of the CATO institute unloads on government spending (which is 40% of GDP spending right now).

blogs.forbes.com...

But what if there were nations with smaller levels of government? Indeed, the video shows that most nations in North America and Western Europe did have very small governments in the 1800s and early 1900s - often amounting to less than 10% of GDP. Does anyone actually think that the United States would have grown faster 100 years ago if the burden of government spending was doubled?

We'll never know the answer to that rhetorical question, but one thing we surely know is that government today is far too large.

The global economic system MUST crash and reset itself every 60 years or so due to the massive buildup of speculative wealth over time from usury (interest on money lending) that does not create any real value.

It's as simple to understand as gravity.

The more they keep trying to save it, the bigger the eventual crash will be.

I swear, these idiots should be forced to take a class in basic physics before they are sworn into office.

Here is the gospel truth according to economist Howard Davidowitz just this morning. The man speaks the truth.

Watch the accompanying video and tell me you don't believe in your heart that this man is correct.



Full story and video

The U.S. economy is in shambles and Americans will continue to see high unemployment and lower living standards in the years to come, Howard Davidowitz tells Henry and Aaron in the accompanying clip.

Davidowitz lays much of the blame for the economy's woes at the feet of the Obama administration, which he calls "the worst of my lifetime."

Obama "Mr. Mass Destruction"

Davidowitz says that the key to Obama's success is his ability to sell his policies to the public. He can confidently read from a teleprompter and appear competent and in control, when in reality, "it's one big bag of empty words," Davidowitz says of Obama's messages.

Davidowitz contends that the President's spending, including the health-care bill, is creating massive deficits that will take the U.S. years to dig itself out of. "He is Mr. Mass Destruction," Davidowitz says of Obama. "I mean he is a human destroyer. This guy has spent his way into oblivion and we don't have a budget. He is surrounded by a bunch of complete incompetents, led by himself. "

[edit on 1-7-2010 by BlackOps719]

I think they understand but I doubt they can maneuver. They are bought and paid for, remember?

Originally posted by BlackOps719
Here is the gospel truth according to economist Howard Davidowitz just this morning. The man speaks the truth.

Watch the accompanying video and tell me you don't believe in your heart that this man is correct.



Full story and video

The U.S. economy is in shambles and Americans will continue to see high unemployment and lower living standards in the years to come, Howard Davidowitz tells Henry and Aaron in the accompanying clip.

Davidowitz lays much of the blame for the economy's woes at the feet of the Obama administration, which he calls "the worst of my lifetime."

Obama "Mr. Mass Destruction"

Davidowitz says that the key to Obama's success is his ability to sell his policies to the public. He can confidently read from a teleprompter and appear competent and in control, when in reality, "it's one big bag of empty words," Davidowitz says of Obama's messages.

Davidowitz contends that the President's spending, including the health-care bill, is creating massive deficits that will take the U.S. years to dig itself out of. "He is Mr. Mass Destruction," Davidowitz says of Obama. "I mean he is a human destroyer. This guy has spent his way into oblivion and we don't have a budget. He is surrounded by a bunch of complete incompetents, led by himself. "

[edit on 1-7-2010 by BlackOps719]

This guy is a great example of a big portion of the problem to me. Rather then point out spending issues and massive corruption from banks over the years or even consumers piling on the debt by buying stuff they cant afford, he blames it on Obama.

Obama didn't force you to buy a house at the rate you paid and he didn't start the companies that have been screwing us for years. We the people created this issue and the fingers we are pointing should be at ourselves.

reply to post by whoshotJR



I dont think he is saying Obama made anyone do anything, more so he is pointing out all of the bonehead decisions that this administration has made regarding the US economy, as well as stating the obvious that we are heading for bad time.

Democrat or Republican, like it or not, this government has been horrendous and many of the horrific problems we are facing have been a direct result of decisions they have made.

Accountability is necessary, and there is plenty to go around, but don't act as if Geithner and Barak and helicopter Ben Bernanke didn't steal $700 trillion dollars from the US tax payers and give it to Wall st.

Facts are facts. Look in the man's eyes, that is fear you see. Political parties wont mean jack when we are all starving.

[edit on 1-7-2010 by BlackOps719]

Originally posted by whoshotJR

Obama didn't force you to buy a house at the rate you paid and he didn't start the companies that have been screwing us for years. We the people created this issue and the fingers we are pointing should be at ourselves.

Yes we can...blame Obama.

He is the position of power and as long as he keeps the spending, the problems will continue to fester and grow.

Obama is trying to sustain those same companies (and quasi-government organizations) that have been screwing us for years. A good example is Fannie and Freddie. They are bankrupt but they keep sucking up the taxpayer dime and divert a good portion of that to Wall Street.

It is obvious that there are large portions of the U.S. economy and the U.S. government that are unsustainable. When something is unsustainable, it should fail.

What is going on is akin to preserving and feeding a cancer instead of fighting it. Obama is like the doctor in the whole mess but instead of fighting the cancer like a doctor should, he is preserving the disease of the patient so he can rake in the medical bills and preserve his status.