(Trends&ForecastsBlog) – Gerald Celente believes that the stock market will crash before the end of 2010 , gold will soar. When gold was at $275 per ounce in 2002, Celente said the price had bottomed and in 2004 forecast the beginning of the “Gold Bull Run.” Since that time, with pinpoint accuracy, he said when, why – and how high – gold would go. Gerald Celente sees huge opportunities in green healthy food , technology for the poor and in rejuvenating the cities with quality architecture…, Gerald Celente as always recommends gold Canadian dollar the Swiss franc as hedges against the inflation. Continue reading
From “The Chimes of Big Ben,” some rare candor from Number 2 transcends the simple question of which side runs the village. Continue reading
(Rense) – 2010 has thundered past the half way mark and is galloping into history. What will the rest of the year hold?
Most of the “Top Ten Trends for 2010” forecast by Gerald Celente this past winter in the Trends Journal® have either come to pass or are about to manifest. Celente predicted:
The Afghan surge would fail.
The economic recovery would never materialize.
Terrorist threats would increase.
Tea parties would gain strong momentum.
Obama’s popularity would wane and/or plummet.
Anti-Immigration sentiments would intensify.
In 2009, “experts” rejoiced at the sight of the impending recovery’s “green shoots” and predicted the advent of a roaring bull stock market run.
Bull market or BS? Celente called the green shoots a mirage and recovery “a cover up.” Sure enough, the Dow is now trading at 1999 levels. He also wrote “Geopolitical and sociological fallout will threaten the entire European Union” and he forecast the “Crash of 2010.”
Will the “Crash” happen at all? Will it happen on schedule? Events conspiring in that direction are explored in detail in the Summer Trends Journal®, just sent to subscribers. Continue reading
(WashingtonPost) – After laying the groundwork for a decisive vote this week on the Senate’s health-care bill, House Speaker Nancy Pelosi suggested Monday that she might attempt to pass the measure without having members vote on it. Continue reading
(SteveWatson) – Ohio Congressman says he will not vote in favor of a bailout for the insurance industry Continue reading
(BusinessInsider) – The image of banks locking their doors to keep customers from making withdrawals during a bank run is what immediately came to mind when we heard that Citigroup was telling customers it has the right to prevent any withdrawals from checking accounts for seven days. Continue reading
(MarketWatch) – How to invest for a global-debt-bomb explosion
Wake up investors. Are you prepared for the economic anarchy coming after a global-debt time bomb explodes? Are you thinking outside the box? Investing differently? Act now — tomorrow will be too late. Read More Here
(Spiegel) – German Auto Sales Crash in January
Domestic car sales hit an all-time high in Germany in 2009 thanks to the government’s cash-for-clunkers program. Now that the program is over, however, sales have plummeted. Is the worst still to come? Read More Here
(CityWatchLA) – Drastic Steps Needed to Prevent Bankruptcy
As you know, the City of Los Angeles faces a budget shortfall of nearly $208 million, and we expect it to exceed $400 million next year. This is the most serious situation we have faced in 75 years and without drastic steps, the City is threatened with bankruptcy. We cannot allow that to happen. Read More Here
(ABC) – Australia close to defaulting on debts: Joyce
Opposition finance spokesman Barnaby Joyce is courting controversy again, warning that Australia is getting to the point where it will not be able to repay its overseas debt. Read More Here
FLASHBACK – (Telegraph) – Société Générale tells clients how to prepare for potential ‘global collapse’
Société Générale has advised clients to be ready for a possible “global economic collapse” over the next two years, mapping a strategy of defensive investments to avoid wealth destruction. Read More Here
(TheBulletin) – Without water
Hundreds of Central Oregonians who can’t pay their bills have their water shut off. For people like Lynette Nicks, who’s recovering from cancer, that’s especially dangerous. Read More Here
(Bloomberg) – No Job Growth for Small Business Spurs Recovery Doubt (Update1)
Small businesses are becoming the Achilles heel of the U.S. recovery by limiting growth and job creation. Read More Here
(Time) – The Great Recession: Will Construction Workers Survive?
The middle and working-classes have been hammered by the Great Recession and no industry has taken it more on the chin than construction. Read More Here
Another (sobering) slice of the jobs data
Here’s a pretty depressing picture, courtesy of the Bureau of Labor Statistics: Read More Here
(NYTimes) – This Crisis Won’t Stop Moving
YOU know we’re in trouble when we’re told that the economic problems in Greece, Portugal and Spain, the most indebted countries in the euro zone, are likely to remain safely contained in those nations. Read More Here
(ZeroHedge) – The Run On Greece Is Here: Investors Pull Out €10 Billion From The Troubled Country; Crisis Escalation Approaches
Remember the proverbial run on the bank? Well, that was the norm (or rather the outlier) before governments decided to backstop entire financial industries residing within their territory. As a result, the post-Lehman version of “the bank run” will henceforth be referred to as “the country run” and for an example of one in practice, look no further than Greece. The Guardian reports that investors have pulled a stunning €8-10 billion since the Greek crisis commenced in earnest last November. If true, this is the beginning of the end for the troubled EMU-member country. Read More Here
(Telegraph) – Global bear rally will deflate as Japan leads world in sovereign bond crisis
Milton Keynes will be vindicated. Lord Keynes will lose some of his new-found gloss. The Krugman doctrine that we should all spend our way back to health by pushing deficits to the brink of a debt spiral – or beyond the brink – will be seen as dangerous. Read More Here
(Risk) – Citi plans crisis derivatives
Credit specialists at Citi are considering launching the first derivatives intended to pay out in the event of a financial crisis. The firm has drawn up plans for a tradable liquidity index, known as the CLX, on which products could be structured that allow buyers to hedge a spike in funding costs. Read More Here
(Katu) – That’s a wrap? Future of Hollywood Video cast in doubt
Once one of the wealthiest companies in Oregon, Wilsonville-based Hollywood Video’s final scene may be written as many customers discovered Tuesday upon finding a dozen of its stores closed. Read More Here
Max Igan – American Voice Radio – Oct 22, 2009 – Part 1 of 6
(DemocracyNow) – President Obama begins his final drive for healthcare reform tonight with a nationally televised prime-time address to a joint session of Congress. His speech comes after an explosive August recess consumed by raucous town halls and talk of government-run “death panels.” Continue reading
A foul-mouthed Bill Maher sidekick doesn’t understand why one group of people are outraged over the prospect of the government stealing their money and forcing them at gunpoint to accept a government-run healthcare program. Continue reading
When the news broke this afternoon of the government’s campaign to have supporters snitch on other American citizens who commit the transgression of opposing his government-run health (s)care plan, I was working on my latest audio clip from the Great One Mark Levin. Here is 13 minutes of commentary (Tues. Aug. 4, Hour 1) by the brilliant and frighteningly prescient radio host. During this clip you will hear the following moving quotes: Continue reading
(Raw Story) – It doesn’t take a rocket scientist to deduce that the banking and financial services industry has an outsized influence in Congress. Continue reading