Is the next Great Depression coming?

[CS natureboy]

Some say yes. And they do have a lot of evidence to back up what they are saying.

Faber: '100% Chance' of Global Recession



Thursday, 24 May 2012 04:15 PM
By Newsmax Wires



Investors need to prepare for a global recession.

That’s the takeaway from one well-respected economist after his recent appearance on CNBC’s Fast Money Halftime Report.

According to Marc Faber, the author of the Gloom, Boom, and Doom Report, a global recession is all but a certainty later this year or in early 2013.

When he was asked what sort of odds he put on a global recession happening, the economist famous for his ominous predictions quickly answered:

“100%.”

Faber’s pessimism during his recent appearance on CNBC wasn’t surprising for a man whose nickname is “Doctor Doom.”

What was surprising was his level of certainty that a global recession was coming.

Faber stated that there is a “meaningful slowdown in India and China” that many investors are missing due to the media’s focus on Greece and Spain.

He is also worried that the wealthy may be showing signs of spending fatigue after Tiffany’s reported slowing sales.

“There are more and more stocks that are breaking down — economic sensitive stocks and companies that cater to the high end. That suggests to me the economy is likely to weaken and the huge asset run is likely to come to an end with significant asset deflation.”

While it is worrisome that Faber’s odds of a global recession are “100%,” it is hardly as alarming as the scenario laid out by another economist.

Without appearing on CNBC or being known by a scary nickname, Robert Wiedemer did what Marc Faber couldn’t: He accurately predicted the economic collapse that almost sunk the United States.

In 2006, Wiedemer and a team of economists foresaw the coming collapse of the U.S. housing market, equity markets, private debt, and consumer spending, and published their findings in the book America’s Bubble Economy.

But Wiedemer’s outlook for the U.S. economy today makes “Doctor Doom” sound like Mr. Rogers.

Where Faber sees a global recession, Wiedemer sees much more widespread economic destruction.

In a recent interview for his newest book Aftershock, Wiedemer says, “The data is clear, 50% unemployment, a 90% stock market drop, and 100% annual inflation . . . starting in 2012.”

Editor’s Note: See the disturbing interview with Wiedemer.

When the host questioned such wild claims, Wiedemer unapologetically displayed shocking charts backing up his allegations, and then ended his argument with, “You see, the medicine will become the poison.”

The interview has become a wake-up call for those unprepared (or unwilling) to acknowledge an ugly truth: The country’s financial “rescue” devised in Washington has failed miserably.

Shocking Footage: See the eerie chart that exposes the ‘unthinkable.’

But it’s not just the grim predictions that are causing the sensation; rather, it’s the comprehensive blueprint for economic survival that’s really commanding global attention.

The interview offers realistic, step-by-step solutions that the average hard-working American can easily follow.

The overwhelming amount of feedback to publicize the interview, initially screened for a private audience, came with consequences as various online networks repeatedly shut it down and affiliates refused to house the content. Federal Reserve Chairman Ben Bernanke and former Fed chief Alan Greenspan were not about to support Wiedemer publicly, nor were the mainstream media.

“People were sitting up and taking notice, and they begged us to make the interview public so they could easily share it,” said Newsmax Financial Publisher Aaron DeHoog, “but unfortunately, it kept getting pulled.”

“Our real concern,” DeHoog added, “is what if only half of Wiedemer’s predictions come true? That’s a scary thought for sure.

But we want the average American to be prepared, and that is why we will continue to push this video to as many outlets as we can. We want the word to spread.”





Read more: Faber: '100% Chance' of Global Recession

[pussy in boots]

I'd say it was already here.

[Rixer]

I don't think you'll see much worse than what we have now. Even a plane crash isn't so bad if the plane doesn't get off the ground. The problem will likely be that we will have many years of this recession until we come out of it.

In the years afterwards, they'll probably be calling this a depression.

[Distant Lover]

CS natureboy,

If this happens, what if anything do you think the United States federal government should do about it?

[RandyKnight]

Originally Posted by pussy in boots

I'd say it was already here.

For some people it is...

Originally Posted by Rixer

I don't think you'll see much worse than what we have now. Even a plane crash isn't so bad if the plane doesn't get off the ground. The problem will likely be that we will have many years of this recession until we come out of it.

In the years afterwards, they'll probably be calling this a depression.

It can get worst...and yes what were have gone thru is what I would call a modern day depression.

Out monetary system is like the kids story...

"The Emperor Has No Clothes"

==================

Dr Doom....even a broken clock is correct twice a day....but his predictions are looking like we are heading there however that has always been his message and it is like "The Boy who Cried Wolf".

The other guy?....I will do some looking at it....

But I have a creepy feeling we are on the edge as I have said in another thread...

[pussy in boots]

the best thing the goverment can do is NOTHING. they always fuck thigs up.

[CS natureboy]

Originally Posted by Distant Lover

CS natureboy,

If this happens, what if anything do you think the United States federal government should do about it?

This will be a World Wide Depression. There will be little our dysfunctional government can do now to avoid the inevitable economic collapse.

Our government, greedy global corporations, years of mismanagement and corruption have led us down a path of no return.

Nice part about this is we will not have to wait very long to see if it comes true.

[RandyKnight]

Originally Posted by CS natureboy

This will be a World Wide Depression. There will be little our dysfunctional government can do now to avoid the inevitable economic collapse.

Our government, greedy global corporations, years of mismanagement and corruption have led us down a path of no return.

Nice part about this is we will not have to wait very long to see if it comes true.

So we can agree on some things...

HOWEVER.....I think this can be stalled off at least 5 years and during that time if the correct moves are made there is a way out...there is always a way out....but we are not heading in that direction now.

[Pandorius999]

Faber is correct about the slowdown in India and China. India's growth,at around eight and a half % for the last few years has slowed down to sub-7% levels and given the government lethargy will dip further. The Chinese are seeing a decline in their export matkets and their manufacturing output actually shrank marginally in mid year. India's is almost flat and other indices are dipping notably coal.

A noted economist. K Anklesaria Aiyar had noted this in May as well. We are headed for another great recession.

[Pandorius999]

SWAMINATHAN S A AIYAR Bad news: World is sliding into a new recession Recent elections have brought to power parties in France and Greece saying there is too much austerity, so the region must aim for growth too. The IMF and several economists across the world echo this sentiment. Yet the claim of excessive austerity has been debunked by Josef Joffe in the Financial Times. The ECB Bank has injected trillions of euros into the region, including ultra-cheap money to banks, massive contributions to rescue funds, and largescale purchases of government bonds. In 2011, fiscal deficits as a proportion of GDP were 13% in Ireland, 9% in Greece, 8.5% in Spain, and 4% in Portugal and Italy. Even France and Holland, supposedly noncrisis countries, had fiscal deficits of 5%. The Maastricht Treaty forbade anything over 3%. When Maastricht rules are so massively violated, is the problem really excessive austerity? No, the real problem is the structural madness of creating the Eurozone , a monetary union without a political union.

This fundamental blunder remains intactt with no prospect of early resolution. A Eurozone break-up would cause massive chaos and misery for a year or two, after which economies would pick up. Trying to save the Eurozone will mitigate immediate misery, but ensure that it continues for years till it becomes politically intolerable. Europeans refuse to confront the dilemma squarely. Instead, they are devising quick-fixes for the immediate problems of Eurozone banks and governments. Germany may approve some growth measures, and relax objections to direct ECB lifelines to stricken banks and debt-ridden governments . This can put off the day of reckoning , but cannot cure the underlying disease of an ill-conceived monetary union. Many analysts (including me) have said that India's GDP growth slump to 5.3% in the January-March quarter cannot be blamed on the Eurozone crisis alone, and reflects paralysis and bad policy at home. This will now be compounded by a new global slump. We can hardly expect any miraculous action from the moribund UPA government . We need a fresh election and fresh government.

[Cheltenham]

The days of excessive spending are dead and gone. We have made the bed that we're lying in, a recession isn't going to convince the world to change until the world is affected and cannot indulge themselves nor their vices.

[AZRIEL]

$$$$$.gif

[stumbler]

Originally Posted by CS natureboy

Some say yes. And they do have a lot of evidence to back up what they are saying.

Faber: '100% Chance' of Global Recession



Thursday, 24 May 2012 04:15 PM
By Newsmax Wires



Investors need to prepare for a global recession.

That’s the takeaway from one well-respected economist after his recent appearance on CNBC’s Fast Money Halftime Report.

According to Marc Faber, the author of the Gloom, Boom, and Doom Report, a global recession is all but a certainty later this year or in early 2013.

When he was asked what sort of odds he put on a global recession happening, the economist famous for his ominous predictions quickly answered:

“100%.”

Faber’s pessimism during his recent appearance on CNBC wasn’t surprising for a man whose nickname is “Doctor Doom.”

What was surprising was his level of certainty that a global recession was coming.

Faber stated that there is a “meaningful slowdown in India and China” that many investors are missing due to the media’s focus on Greece and Spain.

He is also worried that the wealthy may be showing signs of spending fatigue after Tiffany’s reported slowing sales.

“There are more and more stocks that are breaking down — economic sensitive stocks and companies that cater to the high end. That suggests to me the economy is likely to weaken and the huge asset run is likely to come to an end with significant asset deflation.”

While it is worrisome that Faber’s odds of a global recession are “100%,” it is hardly as alarming as the scenario laid out by another economist.

Without appearing on CNBC or being known by a scary nickname, Robert Wiedemer did what Marc Faber couldn’t: He accurately predicted the economic collapse that almost sunk the United States.

In 2006, Wiedemer and a team of economists foresaw the coming collapse of the U.S. housing market, equity markets, private debt, and consumer spending, and published their findings in the book America’s Bubble Economy.

But Wiedemer’s outlook for the U.S. economy today makes “Doctor Doom” sound like Mr. Rogers.

Where Faber sees a global recession, Wiedemer sees much more widespread economic destruction.

In a recent interview for his newest book Aftershock, Wiedemer says, “The data is clear, 50% unemployment, a 90% stock market drop, and 100% annual inflation . . . starting in 2012.”

Editor’s Note: See the disturbing interview with Wiedemer.

When the host questioned such wild claims, Wiedemer unapologetically displayed shocking charts backing up his allegations, and then ended his argument with, “You see, the medicine will become the poison.”

The interview has become a wake-up call for those unprepared (or unwilling) to acknowledge an ugly truth: The country’s financial “rescue” devised in Washington has failed miserably.

Shocking Footage: See the eerie chart that exposes the ‘unthinkable.’

But it’s not just the grim predictions that are causing the sensation; rather, it’s the comprehensive blueprint for economic survival that’s really commanding global attention.

The interview offers realistic, step-by-step solutions that the average hard-working American can easily follow.

The overwhelming amount of feedback to publicize the interview, initially screened for a private audience, came with consequences as various online networks repeatedly shut it down and affiliates refused to house the content. Federal Reserve Chairman Ben Bernanke and former Fed chief Alan Greenspan were not about to support Wiedemer publicly, nor were the mainstream media.

“People were sitting up and taking notice, and they begged us to make the interview public so they could easily share it,” said Newsmax Financial Publisher Aaron DeHoog, “but unfortunately, it kept getting pulled.”

“Our real concern,” DeHoog added, “is what if only half of Wiedemer’s predictions come true? That’s a scary thought for sure.

But we want the average American to be prepared, and that is why we will continue to push this video to as many outlets as we can. We want the word to spread.”





Read more: Faber: '100% Chance' of Global Recession

Yes your next "Great Depression" is coming because your ideology is false, you don't even own your own knowledge, and your existence is brainwashed fear based false propaganda. And yes it would probably be seem more comfortable to shoot yourself now you and I both know you don't really have the guts.

So instead just keep blubbering, and panicking, and carrying on hysterically. Go ahead and let fear rule your life and express it in anger and hatred. Its ok actually because you know what? You're just scared, brainwashed, and fooled and nothing much is going to change.

You're just scared and ignorant to know that now.

But by all means shoot yourself if you can't take it before you shoot someone else.

[CS natureboy]

Originally Posted by stumbler

Yes your next "Great Depression" is coming because your ideology is false, you don't even own your own knowledge, and your existence is brainwashed fear based false propaganda. And yes it would probably be seem more comfortable to shoot yourself now you and I both know you don't really have the guts.

So instead just keep blubbering, and panicking, and carrying on hysterically. Go ahead and let fear rule your life and express it in anger and hatred. Its ok actually because you know what? You're just scared, brainwashed, and fooled and nothing much is going to change.

You're just scared and ignorant to know that now.

But by all means shoot yourself if you can't take it before you shoot someone else.

Are you looking in the mirror and talking to yourself again stumbler?

[Rexxracerr]

I hope it humbles the rich,
till trump eats from a dumpster

[Druidoak]

Wake up my fine sheeple, it's already here!

[RandyKnight]

Originally Posted by stumbler

Yes your next "Great Depression" is coming because your ideology is false, you don't even own your own knowledge, and your existence is brainwashed fear based false propaganda. And yes it would probably be seem more comfortable to shoot yourself now you and I both know you don't really have the guts.

So instead just keep blubbering, and panicking, and carrying on hysterically. Go ahead and let fear rule your life and express it in anger and hatred. Its ok actually because you know what? You're just scared, brainwashed, and fooled and nothing much is going to change.

You're just scared and ignorant to know that now.

But by all means shoot yourself if you can't take it before you shoot someone else.

Sorry stumbler but after even more study of all this I think I found where Obama has made a fatal error....

During the campaign he knew what was going on with wall street and one of his top advisers was Paul Volcker....

When it came to getting a Sec of Treasury after meeting Larry Geitner from the NY Fed...it was man love at first sight....they just seem to click...

Volcker wanted punish to Wall Street Bankers and reform before were were totally destroyed and Gitner whose Birth date is within two weeks of Obama's
convinced him he could straighten all the problems out.

10,000 protesters go to jail not one Banker....Obama Fucked the pooch..

The only way he wins is because Romney is not a Bussiness Man but Corporate Raider and by putting 100 million off shore he has made a big bet against America.

I place the clear blame of on going banking problem by not cleaning house on Wall Street and I think history will show it that way also..

[Distant Lover]

During the last Great Depression conditions were worse in the United States, but on the left there was optimism. After 1932 Franklin Roosevelt was president. The Democrats dominated the country. Things were getting better.

Unless you are part of the fairly large minority, but minority nevertheless, who supports the President's health care program, things have gotten worse since Barack Obama was inaugurated. The unemployment rate is higher. The net worth of most Americans has declined. The national debt has increased.

About the only thing Democrats can say is that things would be worse if John McCain had been elected, and that they will get worse if Mitt Romney is elected. As a Democrat I guess I agree, but "Things could be worse," is a pretty lame campaign slogan.

I will vote for Obama in November, but I will really be voting against Romney. I wish there was someone I could vote for with enthusiasm. I am tired of making excuses for Obama. I am tired of watching Republicans gloat about his failures and mistakes.

[umpire2]

Yes, yes.

Very interesting.

Warning "investors" that they need to "take action" because the next Great Depression is coming.

Of course, that kind of "gloom & doom" "action" is what causes depressions. The wealthy retrenching, pulling out capital, stockpiling cash for their own protection and causing normal production, trade and the general economy to collapse because of nothing more than their greed.

Wonderful.

[Distant Lover]

Originally Posted by umpire2

Yes, yes.

Very interesting.

Warning "investors" that they need to "take action" because the next Great Depression is coming.

Of course, that kind of "gloom & doom" "action" is what causes depressions. The wealthy retrenching, pulling out capital, stockpiling cash for their own protection and causing normal production, trade and the general economy to collapse because of nothing more than their greed.

Wonderful.

That is too true.

[RandyKnight]

Originally Posted by Distant Lover

During the last Great Depression conditions were worse in the United States, but on the left there was optimism. After 1932 Franklin Roosevelt was president. The Democrats dominated the country. Things were getting better.

Unless you are part of the fairly large minority, but minority nevertheless, who supports the President's health care program, things have gotten worse since Barack Obama was inaugurated. The unemployment rate is higher. The net worth of most Americans has declined. The national debt has increased.

About the only thing Democrats can say is that things would be worse if John McCain had been elected, and that they will get worse if Mitt Romney is elected. As a Democrat I guess I agree, but "Things could be worse," is a pretty lame campaign slogan.

I will vote for Obama in November, but I will really be voting against Romney. I wish there was someone I could vote for with enthusiasm. I am tired of making excuses for Obama. I am tired of watching Republicans gloat about his failures and mistakes.

You and Roosevelt....

Yep It would be interesting to see what would happen if Obama confiscated all the Gold in the Nation like Roosevelt did.

[Distant Lover]

Originally Posted by RandyKnight

You and Roosevelt....

Yep It would be interesting to see what would happen if Obama confiscated all the Gold in the Nation like Roosevelt did.

He did not take everybody's wedding rings. Things did get better for most Americans after his election in 1932.

[Distant Lover]

Originally Posted by RandyKnight

You and Roosevelt....

[RandyKnight]

Originally Posted by Distant Lover

I watched a documentary on him the other day that was really good and I was thinking about you....

He was a very interesting man with his sectary mistress and all his other strange quirks....

Yep I still have one piece of gold given to me by my Grandmother who would not turn it in back then.....and yes you could keep most jewelry.

[Distant Lover]

Originally Posted by RandyKnight

I watched a documentary on him the other day that was really good and I was thinking about you....

He was a very interesting man with his sectary mistress and all his other strange quirks....

Yep I still have one piece of gold given to me by my Grandmother who would not turn it in back then.....and yes you could keep most jewelry.

During my radical youth I thought it was unfortunate that Norman Thomas had not been president during the 1930s. Since then I have learned, and this lesson has been reinforced by the disappointing performance of Barack Obama, that good intentions are not good enough. Good intentions that do not result in effective policies discredit the intentions.

We almost did not get the New Deal. After Roosevelt was elected, but before he was inaugurated, there was an attempt on his life. Roosevelt was not hurt, but a man he was with was killed.

Roosevelt's running mate was "Cactus" Jack Garner. I do not think ole Cactus could have orchestrated the New Deal.

[RandyKnight]

Originally Posted by Distant Lover

During my radical youth I thought it was unfortunate that Norman Thomas had not been president during the 1930s. Since then I have learned, and this lesson has been reinforced by the disappointing performance of Barack Obama, that good intentions are not good enough. Good intentions that do not result in effective policies discredit the intentions.

We almost did not get the New Deal. After Roosevelt was elected, but before he was inaugurated, there was an attempt on his life. Roosevelt was not hurt, but a man he was with was killed.

Roosevelt's running mate was "Cactus" Jack Garner. I do not think ole Cactus could have orchestrated the New Deal.

You were a youth in the 1930's........

[Distant Lover]

Originally Posted by RandyKnight

You were a youth in the 1930's........

Not really, but I knew about the history of the 1930s.