Sunday, August 29, 2010

Economic Gurus: Economic Armageddon Is Here

The worst nightmare forecast by economic specialists over the previous years has come true: new research by economic gurus in the United States of America has revealed a bleak scenario: the United States’ economy is in a state of depression. Yes, it is the Double Dip, a roller-coaster ride to economic catastrophe and it has arrived. To come: massive debt default, the failure of entire nations and widespread starvation in the western world.






The research referring to the works of a number of leading economists (David Rosenberg, Fred Harrison, Arthur Laffer, Nobel Prizewinner Paul Krugman, Robin Griffiths) is revealed in the article by US based analyst and writer, Terrence Aym*. And it makes terrifying reading.
While these leading economists represent different views from opposite ends of the political spectrums both in the USA and the UK, on one thing they agree: the decade ahead is going to get worse.
David Rosenberg states categorically that the United States’ economy has entered another Great Depression, the beginning of the double dip much referred to in recent years, following the shocking revelation in July that the US real estate market has collapsed 27% compared with July 2009.
British economist Fred Harrison explains that property speculation around the globe was responsible for the boom and bust waves ripping through the world economy and claims that tax reforms could have avoided the crisis. What he predicts now is a decade-long depression fueled by “a massive contraction in demand” resulting in a 45 trillion-dollar debt default and unemployment rates of 25% in the USA and UK. Worse still, Harrison predicts the failure of entire nations and “something unseen for hundreds of years could appear again: wholesale starvation of peoples in some Western countries”.
More Here..

27 comments:

  1. It's only shocking to the delusional idiots. The elite know it collapsed, only the moron sheeple that are lucky to have jobs don't get it. If you have a high enough level job or any brains you knew the economy was trash since at least 2008 and it was a depression.

    I'm a lawyer, pretty much everyone involved in the legal field has known since at least 2008.

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  2. As for me, I knew the economy was going down the toilet ever since I rented this: http://www.youtube.com/watch?v=T0euDJn9G98

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  3. If you have a high enough level job or any brains you knew the economy was trash since at least 2008 and it was a depression.

    2008? I've been watching this developing since '03, when it was clear the housing bubble was on. When the market peaked in '07, I exited equities and told friends and co-workers to do the same. Sadly, most did not listen, and those are the same that are still blind. Anyway, beyond real estate, it was fairly clear that the economy was a fantasy, driven by consumer debt.

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  4. the economy is a bitch.

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  5. Lobster every night, private jet for the family, private jet for the dog, golf everyday, vacations in Martha's Vineyard and Spain. Priceless.

    Um, um, um. Things are great!

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  6. Don't you love when the bad news comes from the Russians via Pravda!

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  7. Don't you love when bad news coming from Gerald Celente, Marc Farber, Peter Schiff and Jim Rogers?

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  8. 11:01:

    Yes, the truly in touch saw it from 2003, no question. The depression actually started in 2007, but by 2008 everyone should have known what it was but were in denial or lying. Absolutely no excuse by 2008.

    Yet the media is still pretending it's a recession and there is a recovery.

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  9. Instead of building up this country with infrastructure jobs that are needed nationwide, the gov. is sending millions plus to several dozen Muslim countries to upgrade, refurbish old mosques from the 1600's on , needing repair. This was in the Wash. post, Fox news, etc. Unreal, our gov. is undermining and destroying our freedom with no future. Mosques are being built (over 2000)all over the U.S. and no one is doing a damn thing to stop this.

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  10. Look at how many billions were wasted in Iraq! That money was needed to fix our own crumbling infrastructure. As usual, Congress provides no oversight regarding fraud because they are getting kickbacks. Most incumbents need to be voted out, but honestly I don't expect the new people to fix anything.

    I especially have no faith in the Republicans; they're mostly to blame for the incredible transfer of wealth from the middle class to the rich. If they get back in control, they'll just keep stealing what's left. Just wait and see.

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  11. After the hurricane that wiped out most of the eastern side of Honduras, the government of Honduras has rolled out the welcome mat to anyone willing to start a business there. The incentive is that they can operate tax free for the first 10 years.

    Makes me wonder... perhaps Obozo could say any manufacturing based company that sets up shop on the USA, will have no tax liability for 10 years. Sounds nice to me.

    - Manufacturing returns
    - Job are created
    - Tax breaks for the corporation

    Too bad it's not gonna happen. Nice job Barry, phucking up this great county in less than 24 months.

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  12. Morons like laura are why we are in this mess. If Fox news really claims the US is funding mosques it is full of shit, Muslims are a non-issue. The Ground Zero mosque thing is the biggest pile of garbage ever. Instead ofg addressing the economy the politicians have whipped the morons into a frenzy against something else.

    Total 1984. Muslims are Goldstein, the 2 minute hate is really a 24 hour hate brought to you by morons like Limbaugh, Gingrich and Palin who couldn't give a fuck about fixing America, but realize how easy it is to get the masses to focus their anger on another, minority group.

    If the sheeple ever woke up and demanded accountability and slapped a politician every time they tried to obfuscate with totally unrelated patriotic rhetoric these politicians would be forced to handle real issues or they'd be gone.

    I bet laura also thinks Obama is a Muslim (20% of the US does after all) or thinks he is Kenyan.

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  13. Too late to do anything but prep...Try not to rant it'll make you bitter.

    The ship has taken in too much water...It's GOING to sink...Rallies won't work...Waiting for the elections won't change anything...Violence only gives them an excuse to f*ck us over more.

    Take a deep breath...Prep and do a lil meditation...Worry about your family and loved ones.

    The time for proper change is over...It's crash time then rebuild time.

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  14. 9:58 AM: I can't say anything to a pro muslim like yourself, Obama, and many other "politically correct" scumbags, because you are in favor of the spread of Islam in the West like many morons that will eventually be praying to Allah or be killed. Women will be abused,enslaved like in the middle east. This article was in the Wash. post and repeated on several TV news shows. I 'm not a fan of Fox, and quit voting along time ago for politician scum, none to be trusted incl Ron Paul, who saw nothing wrong with the NYC mosque. Our civilization is threatened if people don't take a stand and quit depending on politicians who are sold out to big corp. and banks.

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  15. So dumb, and so angry. Who do you think is whipping up the anti-Muslim movement? It's the big corps, big banks and the politicians, because they don't want you to focus on the real problems. Go read 1984, by George Orwell.

    I would only understand buying into the anti-Islam movement if you also hate all brown people, all Jews, blacks, and everything else except white Christianity (of which you'd have to pick a sect too). At least then I would believe you are consistent.

    But when you just buy into the garbage they tell you on TV and get worked up over it, you're just the same as the sheeple even if you're on this site.

    Also read the International Jew by Henry Ford, this is precisely what the Jews always do. And who owns the politicians, the banks, the corps and of course the media? The Jews. And who do Jews love to vilify and which two religions do the Jews love playing off against each other? The Muslims and of course the Muslims against the Christians. They have been doing this shit for thousands of years but you're convinced that the "new Muslim menace" is somehow different than the last 50 groups they tried this with.

    And that is why we are all so fucked and why the Jews can keep doing this. If you actually call them out on this you get accused of being Anti-Semitic, and when that doesn't work, you get accused of being "Pro-Muslim" "Politically Correct" and "Obama supporter" or a thousand other ridiculous labels just so that person doesn't have to admit what is going on.

    laura, you are an absolute fool. At least read the two things I asked you to read.

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  16. Sorry to step into this quagmire of name calling but can't I kinda dislike BOTH isrealis AND muslims?

    Not based on past histories/conspiracies but on the fact that isrealis really do some horrible things and then act like victims? Nothing worse than a hypocrite.

    As far as the muslims because everywhere they form a neighborhood they pretty much semi-ruin it, are very racist to any non-muslim and have a habit of being on government aid for their multiple children.

    I'm not saying all of course but lets just look at any place outside their country and see how the mulsim community is doing in northen europe/uk/australia or even here take detroit as an example.

    In some semi-racist way that actually makes sense and that people will understand...isrealis are like new orlean welfare blacks..."I need...I want...I'm a victim...If you don't like me you're a racist" etc etc.

    Muslims outside their country seem to be like mexicans...Invade in large numbers, take over an area, suck up social programs, NOT pay their share of taxes.

    Of course this is a stereotype but if enough people fit the profile then it stops being a stereotype and becomes a truth.

    They say never to generalize...But people as a whole do fit a profile based on race/culture...It's NOT racist to admit that truth...This whole "we are all the same" BS is a lie.

    If we were all born in the same way and had the same upbringing sure we be the same BUT WE'RE NOT.

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  17. 11:54 hey, the jews want to destroy the white anglo created USA. They promote deviant behavior and race mixing to destroy the white man. Why is race mixing so promoted on TV with a Black man and White woman? What good would come of that? The jews rarely race mix. They want to own and conrol everything. They also NEVER EVER work at a job as labor. The most they can do is find ways to rip you off without producing a thing. The jew is nothing but a worthless PARASITE. A lamprey is their kin.

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  18. 12:21 You sound just like the Brown Shirts and Hitler followers in the 30's. Promoting Jew hatred are you? Take a Hike!

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  19. 12:53: There you go again. It's okay to hate Muslims, Blacks and Mexicans, you won't say one thing about that, it's even okay to bash all White males and all our achievements...but the second somebody says even one thing about the Jews it is a national crisis and we all must unite.

    Go troll fox news or some other mainstream sheeple brainwashing media. I've watched the Jews destroy every culture at one time or another, they just got DONE denigrating white culture for the past 10-20 years and are now working on the Muslims overtime. What a joke. The real villains are the Jews and it's so transparent if you have two brain cells to rub together.

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  20. Ain't it great when you call out and speak the truth of the tribes? The rats start coming out en masse to launch damage control. To all the gentiles reading this site you better read the babylonian talmud because your next after the middle east if you don't wake up from your slumber.

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  21. 1:07 Who says it's OK to hate any race? You are a racist in the 1st degree. Speaking of rats coming out - go to some other site and spew your hatred.

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  22. The list of comments here with the exception of a few can be used to explain why the the Western World is crashing right before our very eyes. This whole world's social order is about to crumble, die, literally hit zero point but we are all focused on some ambiguous intellectual speculation about what race caused what or what group of idiots from the past is galvanizing people into rage.

    I'm sure if I say right now, "God help us" there will be someone who read books about the atrocities of Christianity and will bash me for it because his whole universe is limited to the polar force of something he thinks he is superior to.

    Then again there are others who would think I'm not following the "Word of God" if I reveal to them the Tao, Great Spirit, Cosmic Intelligence, and God are all the EXACT same thing. It might make me a weirdo, dangerous... don't let your daughter near me even though I'm a gentleman with good looks, brains, and manners.

    The only people who have the right focus at this point are those saying to get with family and companions. Prepare - the discordance on this isolated, inconsequential acquisition of 20 or so random opinions is enough to have one comprehend what's happening on the collective scale. The difference is that the collective has an infinitely greater magnitude of turbulence!

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  23. Bernanke likes to remind everyone that he is an expert on the great depression and knows how to prevent it from happening again in the US. Apparently he is also an expert on Japan and its struggle with chronic deflation following its housing bubble in the 1980's. In fact Bernanke wrote an article in 2000 titled "Japanese Monetary Policy: A Case of Self-Induced Paralysis," where he goes on to lecture BOJ officials about what they could and should have done differently in order to to avoid a deflationary outcome. He goes on to postulate that the BOJ was not trying hard enough to stimulate the economy and that 0% interest rates are just one tool to beat deflation. The Fed Chairmen even goes so far as to assert that he knows how to escape a liquidity trap caused by 0% interest rates. The reason I bring this up is because it gives people a good idea of what Bernanke's next move may be. The US is dangerously close to falling into the dreaded "liquidity trap" as deflation takes hold and monetary policy loses its effectiveness.

    Here are some of his suggestions to the BOJ:
    http://blackswaninsights.blogspot.com/2010/08/bernanke-explains-how-to-escape.html

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  24. Prepping for the long haul.

    Today I bought about a pound of Garbanzo and Lima beans. I dropped about 1/2 pound of each in a pot, added a big bag of frozen veggies, Zucchini from my garden, onions from my garden, herbs from my garden and cooked it all into a wonderful batch of vegetable soup.

    I canned 4 quarts of the soup and had enough for the family for dinner. Total cost, about 3 bucks. Each of the quart bottles can be diluted with water to make 1/2 gallon of soup.

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  25. I noticed the artical said, "a terrifying read"..maybe that's why so many get all bunched up on who's, of what race, what religion, blah blah..afraid, and would do anything to maintain their own status quo much like the oligarchy we're against...people are people, even science seems to say we have dna traits that brought us here from 1 place...people either do good, or evil

    the times are upon us, settle it in your minds, terrible changes, good changes too...the good,refind the Truth, Jesus Christ, your families, values, love, help someone, stand up for justice...then die whenever-so what? gunna die at 90ish anyway boohoo stop fearing which is exactly what they want

    the news articles are useful not to divide(which fascism just loves) but in part to allow us to weigh out the aggregate of details, see where we're at and how to act and what to point out to others so they can prep too

    when "things" and pleasures and trust in those things are taken away what's left of us? Nothing? those 72 shot in mexico perhaps thought it better to die poor then to join in an evil cartel for money, bread and status.

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  26. 5:03 your post is my favorite of the day. This is exactly what the rest of us need to be doing. Learning how to be completely self sufficient. This was like a breath of fresh air after all the bashing.

    Doesnt really matter whose fault it is now. It is upon us and we better all be ready.

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  27. I am so tired of the overused word "sheeple". Come one. We've read it a million times now.

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