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Billionaire Tells Americans to Prepare For 'Financial Ruin'

 
Anonymous Coward
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07/02/2013 07:59 AM
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Billionaire Tells Americans to Prepare For 'Financial Ruin'
The United States could soon become a large-scale Spain or Greece, teetering on the edge of financial ruin.

That’s according to Donald Trump, who painted a very ugly picture of where this country is headed. Trump made the comments during a recent appearance on Fox News’ “On the Record with Greta Van Susteren.”

According to Trump, the United States is no longer a rich country. “When you’re not rich, you have to go out and borrow money. We’re borrowing from the Chinese and others. We’re up to $16 trillion in debt.”

Ballooning debt and a credit downgrade aren’t Trump’s only worries for this country. He says that the official unemployment rate of 8.2 percent “isn’t a real number” and that the real figure is closer to 15 percent to 16 percent. He even mentioned that some believe the unemployment rate to be as high as 21 percent.

“Right now, frankly, the country isn’t doing well,” Trump added, “Recession may be a nice word.”
..............................................

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.”

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.”

[link to www.moneynews.com]
Fun-Da-Mental

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07/02/2013 08:09 AM

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Re: Billionaire Tells Americans to Prepare For 'Financial Ruin'
ominous news being ominous...
The Right Policy

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07/02/2013 08:10 AM

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Re: Billionaire Tells Americans to Prepare For 'Financial Ruin'
It will all carsh in September 2015.

I'm putting EVERYTHING I have on ticker TZA. Look it up and see what it went up to in 2008!
The Right Policy is Always Conservative

"The danger to America is not Barack Obama, but a citizenry capable of entrusting a man like him with the Presidency. It will be far easier to limit and undo the follies of an Obama presidency than to restore the necessary common sense and good judgment to a depraved electorate willing to have such a man for their president. The problem is much deeper and far more serious than Mr. Obama, who is a mere symptom of what ails America . Blaming the prince of fools should not blind anyone to the vast confederacy of fools that made him their prince. The Republic can survive a Barack Obama, who is, after all, merely a fool. It is less likely to survive a multitude of fools, such as those who made him their President." - Vaclav Klaus
Anonymous Coward
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07/02/2013 08:11 AM
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Re: Billionaire Tells Americans to Prepare For 'Financial Ruin'
lol bsflag
Anonymous Coward (OP)
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07/02/2013 08:14 AM
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Re: Billionaire Tells Americans to Prepare For 'Financial Ruin'
lol bsflag
 Quoting: Anonymous Coward 32027580




While 15 percent to 16 percent unemployment, a looming credit downgrade, and ballooning debt are a bleak outlook for the United States, they are hardly as alarming as the scenario laid out by another economist.

Without earning celebrity status or having his own television show, Robert Wiedemer did something else that grabbed headlines across the country: He accurately predicted the economic collapse that almost sank 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.

[link to www.moneynews.com]
JanJan

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07/02/2013 08:14 AM

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Re: Billionaire Tells Americans to Prepare For 'Financial Ruin'
Thought this was going to be something important, until I saw the name Trump.

We pretty much know the country is in financial ruin, but we can magically aid the Muslim Brotherhood and other terrorist organizations.

Wish my CPA was that magical with my numbers... .
indiandave

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07/02/2013 08:28 AM

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Re: Billionaire Tells Americans to Prepare For 'Financial Ruin'
Thought this was going to be something important, until I saw the name Trump.

We pretty much know the country is in financial ruin, but we can magically aid the Muslim Brotherhood and other terrorist organizations.

Wish my CPA was that magical with my numbers... .
 Quoting: JanJan


And we can send the Obamas on expensive vacations. But they want to make cuts that will effect the little guy. What a country!
Anonymous Coward (OP)
User ID: 31108009
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07/02/2013 08:30 AM
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Re: Billionaire Tells Americans to Prepare For 'Financial Ruin'
Thought this was going to be something important, until I saw the name Trump.

We pretty much know the country is in financial ruin, but we can magically aid the Muslim Brotherhood and other terrorist organizations.

Wish my CPA was that magical with my numbers... .
 Quoting: JanJan


Not just Trump though....Wiedemer says pretty much the same.
JanJan

User ID: 37755393
United States
07/02/2013 08:34 AM

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Re: Billionaire Tells Americans to Prepare For 'Financial Ruin'
Thought this was going to be something important, until I saw the name Trump.

We pretty much know the country is in financial ruin, but we can magically aid the Muslim Brotherhood and other terrorist organizations.

Wish my CPA was that magical with my numbers... .
 Quoting: JanJan


And we can send the Obamas on expensive vacations. But they want to make cuts that will effect the little guy. What a country!
 Quoting: indiandave


Exactly. As a small business owner, I'm being crushed with taxes. I won't hire anyone one new b/c I don't want to pay the exorbitant payroll taxes.

Wipe out the middle class - genius move.
Anonymous Coward
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07/14/2013 05:54 AM
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Re: Billionaire Tells Americans to Prepare For 'Financial Ruin'
bump
Anonymous Coward
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07/14/2013 06:08 AM
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Re: Billionaire Tells Americans to Prepare For 'Financial Ruin'
lol

got to love these billionaires preaching to everyone about ruin, when it is THEM who have by far the most to lose.

chuckle
Anonymous Coward
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07/14/2013 07:39 AM
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Re: Billionaire Tells Americans to Prepare For 'Financial Ruin'
It will all carsh in September 2015.

I'm putting EVERYTHING I have on ticker TZA. Look it up and see what it went up to in 2008!
 Quoting: The Right Policy


[link to finviz.com]

spock
....but does lightning strike twice in the same place?

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