THE Crash Of 2010

Discussion in 'Economics' started by Cazza La Randa, Jan 7, 2010.

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  2. S2007S


    The first minute and a half of this clip sounds like Peter Schiff. Those 2 need to get their own show. Everyone is ignoring the long term consequences because of how great everything seems to be at this very moment. As some of have been saying, the economy is pumped with trillions of dollars to create this illusion that this economy is on the path to recovery, its far from it.
  3. Everybody loves a good prediction list!

    He's entertaining enough, but people have been predicting doom and gloom since the beginning of time.
  4. S2007S


    Why are all the people who predict negative events in this market place considered entertaining, I mean we had people predicting the down fall of the housing markets before it even happened while bubble ben bernanke kept lying about how everything was stable and under control. Everyone believed him as if was telling the truth. No one is predicting doom and gloom, they are telling you what the reality of the outcome will be after the fact they pump a system full of worthless dollars. I mean its commonsense, they have done everything possible to keep this recession from last anything longer than 3 or 4 months and now pump the economy up with tax credits, liquidity, low interest rates and everything else just to create growth, its fake growth, its not real, when you have to stimulate an economy to show growth that's a problem. You can keep believing that a turn around is coming but in reality its just a short term cover up to make everything look better than it actually is.
  5. celente failed in most if not all of his predictions for 2009.

    this time is different no?

  6. it is the beauty of FIAT currencies.

    you artificially produce boom and busts at will.

    they already said there is not going to be a second leg of the crisis...

    so pick the side of the fence you deem appropriate.
  7. Didn't he predict social unrest, riots and mass murder in the streets of America for 2009? Oh well maybe in 2010 :cool:
  8. This guy showed up in this forum via this prior thread when the S&P500 was at 881 last year.

    and I'll repost what I had posted in that thread:

    In a September 2000 Parade magazine profile by Michael Ryan, Celente was quoted as saying, "We're not going to have significant inflation or recession for the foreseeable future."

    At the end of 2005 he claimed the next year would see a popular movement for some US states to secede. No such movement emerged, and a year later instead he predicted a trend toward "civility" and "healing" in the country.

    He predicted that in 1994 a major trend of rising "ubiquitous" crime in US cities would begin. Instead, according to FBI figures, US violent crime rates declined every year for a decade and property crime diminished to levels well below that in 1993, when he made that prediction.

    In 1997 he said that 1998 would see a "mad cow" stock market of unprecedented volatility and ultimately a large negative correction. The 1998 market was indeed more volatile than in immediately prior years, but it was hardly on an unprecedented scale and the year in fact enjoyed substantial net gains on indexes such as the S&P 500, which rose by almost 27%, in contrast to the 25% to 35% drop he envisioned.

    For 2006 he said that US exports would suffer due to negative publicity resulting from Hurricane Katrina. However, exports of all goods, and specifically of consumer products, which presumably would be most affected given his reasoning, increased by roughly the same real-dollar amount in 2006 as they had in 2005.

    In 1992, at a time when trade reforms were much in the news, he claimed there would be a "another Great Depression" due to trade barriers and protectionism. By late 2001, Celente opined that there was greater than a 50% chance of a massive international depression chiefly due to excess production, although ironically also the presence of markets relatively free of trade restrictions.


    A bullshit artist worshipped by pikers.
  9. ashatet


    I like the business this guy is in. Make 100 predictions, and then talk about the dozen that came right on TV and claim to be a wizard.

    Where do I sign up.
  10. BVM88


    #10     Jan 7, 2010