Thursday, Feb 19, 2009
Worst Economic Collapse Ever
Market Oracle: Economic Collapse Worse than the Great Depression: Video
' Worst Economic Collapse Ever' - In 2009 were going to see the worst economic collapse ever, the Greatest Depression, says Gerald Celente, U.S. trend forecaster. He believes its going to be very violent in the U.S., including there being a tax revolt.
Posted by sold 2 rent 1 @ 12:42 PM (1708 views) Add Comment
11 Comments
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1. sold 2 rent 1 said...
Capitalism that relies on perpetual expansion is near its end.
It's had a great run but enough is enough
2. sold 2 rent 1 said...
For anyone who can't take any more doom and gloom we haven't even started yet.
Here is a decent comparison of "The End Times" between Muslim, Jewish, and Christian Prophecies
http://contenderministries.org/prophecy/eschatology.php
Enjoy
3. Jenko3000 said...
Prophecies? Give me strength.
4. alan said...
Thanks S2R1,
Commercial real estate collapse doesn't cause a Christian "end times" (biblically speaking). I guess there is a little time left for us believers! "By their deeds shall you know them" is a key Christian phrase from the bible, used by Gerald Celente 3 times. I happen to think that's a useful approach.
I agree with the following points of his analysis. As Calente says "Look at the way things are shaping up".
* People may get more desparate and crime will grow.
* Politicians are using 1930's models and analysis.
* Iran's reactor - a flashpoint.
* Gold prices to continue to go up.
* Healthcare looks like one of the low paid, safe sectors!
5. mountain goat said...
Good video thanks. Pity that the sound is out of sync. I enjoyed what he said about Obama "By their deeds shall you know them". He won the election on a ticket of change and then puts the old guard in charge. Geithner was previously the president of the Federal Reserve Bank of New York for fn!c sake! What kind of change is that?
"Off with their heads", tax revolt, strong stuff !
6. sneaker said...
It's not the worst economic collapse ever.
It's comparable to the panic of 1873.
Also has some in common with the panic of 1837.
But it is nothing like the collapse of the Lombard system in 1348, when the Italian banks had lent too much to Edward III.
The banking system literally evaporated, plunging the whole of Europe into the tail-end of the Dark Ages.
The turmoil of the 1400's followed: famine, disease, war.
And remember, after every great bust follows a rebirth. The Renaissance itself, indeed.
7. sold 2 rent 1 said...
sneaker,
To be honest I don't rate the "long depression" of 1873-1897 as it was a price depression, not a production depression.
See wiki. http://en.wikipedia.org/wiki/Long_Depression
The depression of 1837-1842 still doesn't cut it as a biggie as the stock and debt graphs below show a potential bigger collapse now
http://www.marketoracle.co.uk/images/Paul_19_4_07a.png
http://www.thelongwaveanalyst.ca/downloads/NonPublicDeptPerGDP.doc
As for 1348, now you are talking. This was a biggie
It has been argued that the collapse of the Lombard banking system in the 1340's has some striking similarities to the financial crisis of 2007–2008 (from wiki http://en.wikipedia.org/wiki/Lombard_banking)
I hate to mention the C word but Calleman's National Cycle Sixth night destruction period runs in the period 1223-1617 and the 1400s is slap bang in the middle.
3 Sixth Night destruction periods
National Cycle – 1223-1617 (mid point 1420)
Planetary Cycle – 1972-1992 (mid point 1982)
Universal Cycle – Nov 2009-Nov 2010 (mid point May 2010)
Expect the current destruction to reach a peak in May 2010.
8. Hip Hater said...
"But it is nothing like the collapse of the Lombard system in 1348, ....The turmoil of the 1400's followed: famine, disease, war.
So we have a century of this to look forward to? What do I tell my great grand kids?
9. sold 2 rent 1 said...
600 years of silver chart
Here is a nice pattern.
Gold and silver peak at approximately the mid-point of the sixth night. 1477, 1980 and spring 2010?????
Not long before we can test this theory.
10. mountain goat said...
S2R1 - 600 years of silver chart - yes I found it interesting chart
11. P. Riddy said...
Hi s2r. Any chance of posting an article with your date mappings onto the discussion section, and, for posterity, in the message board on meetup.com/housepricecrash ?