Proof of second great depression in foreign newspapers? | |
Anonymous Coward (OP) User ID: 867058 Canada 01/17/2010 03:19 AM Report Abusive Post Report Copyright Violation | I would not say it was completly ignored look here: [link to finance.yahoo.com] U.S. Postponed the Great Depression, Not Prevented It, Says Trend Forecaster Celente Posted Jan 11, 2010 08:00am EST by Peter Gorenstein in Recession, Banking Related: AIG, ^GSPC, C, FRE, FNM, MTLQQ.PK, ^DJI A week into the New Year, the consensus among the Wall Street "experts" is the economy and the financial markets will continue to improve in 2010. Unlike last year, when we entered January with so much uncertainty, today pretty much everyone agrees the worst is behind us. Gerald Celente does not agree. Celente, the director of the Trends Research Institute, who's been tracking trends for 30 years, thinks 2010 brings with it the Great Depression we narrowly avoided last year. Celente's been making this prediction for several years, and as we know was nearly proved right. Extraordinary government intervention helped prove him wrong, something he didn't anticipate. "We never thought we'd be buying companies like AIG, we never thought we'd own parts of General Motors," he tells Aaron in the accompanying clip. "The government's never done these things before." Celente believes the bailouts have just postponed a depression -- not prevented one: "The hand may change but the game doesn't change." Celente says the recent signs of economic recovery are nothing more than a boost based on "a stimulus economy." Once those measures are pulled back and interest rates rise, the economy will once again tank. It's not all gloom and doom. Eventually, Celente predicts, American ingenuity and innovation will drive a recovery. It's a topic we discuss more in a forthcoming clip. check out the video as it goes into more detail |
Free Store User ID: 143574 Canada 01/17/2010 03:26 AM Report Abusive Post Report Copyright Violation | |
Bad Finger User ID: 856028 Hong Kong 01/17/2010 03:26 AM Report Abusive Post Report Copyright Violation | More detail - [link to www.youtube.com] Come & get it! |
Future History User ID: 866711 United States 01/17/2010 03:27 AM Report Abusive Post Report Copyright Violation | This quote in the article is disturbing: "The current drive to make banks less leveraged and safer is having the perverse consequence of destroying money balances," he said. "It strengthens the deflationary forces in the world economy. That increases the risks of a double-dip recession in 2010." Love |
Anonymous Coward User ID: 857535 United States 01/17/2010 03:30 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 739419 United States 01/17/2010 03:36 AM Report Abusive Post Report Copyright Violation | The stock market crash was just the beginning then came FDR's horrible socialist policies. The same policies that keep us enslaved 80 years latter. What kind of polices does Obama plan to put the jacketboot of government further in our backs? |