For all of you Pollyanna's, the DOW just breached the long term support of 7552, next historical support is 3377. Call it what you may but as long as they are manipulating the markets with their counterfeit currency how can anyone possibly know where to put in the fix. With inflation accounted for the S&P is far below the levels it was at in the 90's.
I agree. Best places for your money for the foreseeable future might very well be: foreign bonds and equities, foreign currencies, commodities, gold and silver. Everything is relative and I expect certain foreign markets will stabilize while the US markets will continue to languish. I also expect the dollar to ultimately crash with resulting hyperinflation following this deflationary cycle given the excessive and mountainous debt being created. I would not be a buyer of US stocks unless they have a strong multinational presence and are hedged against a falling dollar. US mining stocks and commodity stocks might be an acceptable risk as well. Stock up on the necessities, like food and coal.
Here is an interesting view by a "top trend forecaster":
Celente Predicts Revolution, Food Riots, Tax Rebellions By 2012
Top trend forecaster, renowned for being accurate in the past, says that America will cease to be a developed nation within 4 years, crisis will be “worse than the great depression".
The man who predicted the 1987 stock market crash and the fall of the Soviet Union is now forecasting revolution in America, food riots and tax rebellions - all within four years, while cautioning that putting food on the table will be a more pressing concern than buying Christmas gifts by 2012.
Gerald Celente, the CEO of Trends Research Institute, is renowned for his accuracy in predicting future world and economic events, which will send a chill down your spine considering what he told Fox News this week.
Celente says that by 2012 America will become an undeveloped nation, that there will be a revolution marked by food riots, squatter rebellions, tax revolts and job marches, and that holidays will be more about obtaining food, not gifts
“We’re going to see the end of the retail Christmas….we’re going to see a fundamental shift take place….putting food on the table is going to be more important that putting gifts under the Christmas tree,” said Celente, adding that the situation would be “worse than the great depression”.
“America’s going to go through a transition the likes of which no one is prepared for,” said Celente, noting that people’s refusal to acknowledge that America was even in a recession highlights how big a problem denial is in being ready for the true scale of the crisis.
Celente, who successfully predicted the 1997 Asian Currency Crisis, the subprime mortgage collapse and the massive devaluation of the U.S. dollar, told UPI in November last year that the following year would be known as “The Panic of 2008,” adding that “giants (would) tumble to their deaths,” which is exactly what we have witnessed with the collapse of Lehman Brothers, Bear Stearns and others. He also said that the dollar would eventually be devalued by as much as 90 per cent.
The consequence of what we have seen unfold this year would lead to a lowering in living standards, Celente predicted a year ago, which is also being borne out by plummeting retail sales figures.
The prospect of revolution was a concept echoed by a British Ministry of Defence report last year, which predicted that within 30 years, the growing gap between the super rich and the middle class, along with an urban underclass threatening social order would mean, “The world’s middle classes might unite, using access to knowledge, resources and skills to shape transnational processes in their own class interest,” and that, “The middle classes could become a revolutionary class.”
In a separate recent interview, Celente went further on the subject of revolution in America.
“There will be a revolution in this country,” he said. “It’s not going to come yet, but it’s going to come down the line and we’re going to see a third party and this was the catalyst for it: the takeover of Washington, D. C., in broad daylight by Wall Street in this bloodless coup. And it will happen as conditions continue to worsen.”
“The first thing to do is organize with tax revolts. That’s going to be the big one because people can’t afford to pay more school tax, property tax, any kind of tax. You’re going to start seeing those kinds of protests start to develop.”
“It’s going to be very bleak. Very sad. And there is going to be a lot of homeless, the likes of which we have never seen before. Tent cities are already sprouting up around the country and we’re going to see many more.”
“We’re going to start seeing huge areas of vacant real estate and squatters living in them as well. It’s going to be a picture the likes of which Americans are not going to be used to. It’s going to come as a shock and with it, there’s going to be a lot of crime. And the crime is going to be a lot worse than it was before because in the last 1929 Depression, people’s minds weren’t wrecked on all these modern drugs – over-the-counter drugs, or crystal meth or whatever it might be. So, you have a huge underclass of very desperate people with their minds chemically blown beyond anybody’s comprehension”
The George Washington blog has compiled a list of quotes attesting to Celente’s accuracy as a trend forecaster.
“When CNN wants to know about the Top Trends, we ask Gerald Celente.” — CNN Headline News
“A network of 25 experts whose range of specialties would rival many university faculties.” — The Economist
“Gerald Celente has a knack for getting the zeitgeist right.” — USA Today
“There’s not a better trend forecaster than Gerald Celente. The man knows what he’s talking about.” - CNBC
“Those who take their predictions seriously … consider the Trends Research Institute.” — The Wall Street Journal
“Gerald Celente is always ahead of the curve on trends and uncannily on the mark … he’s one of the most accurate forecasters around.” — The Atlanta Journal-Constitution
traderfjp wrote:I predict prosperity over the next 8 years. No one really knows but we'll get through this.
You may be right, I'll give you about a 10% chance that you are right and I think I'm being generous. If you think Hank Paulson and Ben Bernanke are our saviors I give you less than 1%. They are criminals who won't even tell you where the bailout is being spent. They are inside traders who, in my opinion, have engineered this fall. Any amount of research on the Great Depression will help you to realize that the Banksters make out in unfathomable ways during these declines because they are the ones with the cash to buy up all of the shelled out assets, when no one else can find a red cent. Goldman Sachs has had Paulson to take good care of them during the Bush abomination, and they will have either of the two mentioned below to take care of them during the Obamanation.
Two front-runners — former U.S. Treasury Secretary Robert Rubin and New Jersey Gov. Jon Corzine — also were top executives at Goldman Sachs. Others held high-level Treasury Department posts during Bill Clinton's administration. Still others are part of the Group of Thirty, an international organization of center-left economists.
Take note of who gave Obama the second largest amount of money please. Then go on and look at the other banks listed.
University of California $909,283 Goldman Sachs $874,207 Harvard University $717,230 Microsoft Corp $714,108 Google Inc $701,099 JPMorgan Chase & Co $581,460 Citigroup Inc $581,216 National Amusements Inc $543,859 Time Warner $508,148 Sidley Austin LLP $492,445 Stanford University $481,199 Skadden, Arps et al $473,424 Wilmerhale Llp $466,679 UBS AG $454,795 Latham & Watkins $426,924 Columbia University $426,516 Morgan Stanley $425,102 IBM Corp $415,196 University of Chicago $414,555 US Government $400,819
I hate to tell you but the system is rigged, and until the bankers can buy up the likes of GMC, Ford and Chrysler at firesale prices, so that they can sell them again at interest, things are not going to get any better. I'd rather be sorry than right, but with the dirty crop of politicians running this place there is no way in hell it's going to get better soon.
When the American "consumer" (more on that term in a minute) is tapped out, the chicoms will have no problem at all dumping all of those treasuries that they hold which will cause hyperinflation. Look to Wiemar Germany or Zimbabwe for a better idea of how that all works out for a nation.
Consumers. Human resources. Does anybody remember when we were human beings instead of resources and or consumers. How does it feel to know that your government thinks of you as a resource, as something they own. Yep I'm mad as hell. I'm sick of people watching those smarmy bastards on television who tell you how great things are, who hang on Paulsons every word even though he has been treacherously wrong or lying for at least three years. I'm sick of Rush Limbaugh and Hannity just last year telling us all that the people poo pooing the economy are just leftist radicals talking smack about Bush. The main steam media is there to sell you a crock of spit. Their job is to keep you from thinking about what is happening to you and your children and their children and sell you trash that you don't need. There is far more paper silver, and paper gold than there are true ounces and I'm gonna go out on a limb here and say that before too long a whole lot of entities with a whole bunch of positions are going to take delivery on a whole bunch of precious metals that aren't there and bring CRIMEX (COMEX) to it's knees. That will certainly be dollar positive won't it? If me, a stupid miner saw this coming, why couldn't they?
if you think things are going to get worse then make lemonade out of lemons....
Do a chart on this "double inverse" fund, ProShares UltraShort S&P500 on the NYSE, for every 1% the S&P goes down, this fund goes up 2%. Symbol is "SDS". As you can imagine, this fund is doing very, very, well
http://video.google.com/videoplay?docid=1954933468700958565&hl=es This link is broken, either the page no longer exists or there is some other issue like a typo. If what this guy says is true, Hollywood couldn't make a movie to justify the horrors we're gonna see. Annie, get your gun!
There is an interesting article about Bernanke in the November 16 issue of The Washington Post newspaper. It's titled "I Took His Class. Now He's Being Tested". The author, Carlos Lazada, was a student of his at Princeton University. He writes about Bernanke's views on the Great Depression, the Hoover era and the 1929 stock market crash. Interesting reading, have a look at:
Hal Turner is wrong more often than he is right. Be very leery of that guy.
While all of the MSM pundits were telling you to buy real estate during the summer of `07, while they laughed at the guy in the video below and made him the clown of their sales pitches, he stood his ground and has made them all to look like fools. They all still have jobs because they are nothing more than hyenas doing the bidding of their corporate bosses and were severely wrong in their economic assessments. Eternally excited salesmen and women pitching products that are morally and financially bankrupt.
Jim Rogers is one of the smart ones too.
By the way, Fox news bought out Becks CNN contract, anyone want to bet that Fox will never let him on the air?
Understanding the following video is one of the most important things an American citizen can do during these times.
http://video.google.com/videoplay?docid=-1656880303867390173 This link is broken, either the page no longer exists or there is some other issue like a typo.
The fact is the same “experts” who are now saying that the United States as a power is thru or that we are going to the Great Depression II are also the same “experts” who were calling for $200 oil not only 4-5 months ago. Even a broken clock is wrong twice a day and the more predications you make the more you get right. You also get some wrong.
Look back at some older papers (I have WSJ’s from about 18 months until now). Some of the same people now saying the market is going down were indicating when the dow went from about 14K down to 12K then back up to 14K were saying everything was fine 12 months ago. Things are bad yes. But is society as we know it over? I don’t think so.
after reading this thread I got to say to myself why is someone who thinks they can predict the markets ups and downs burning coal ? I would think they have made their fortunes and don't have worry about taking out ashes and shoveling coal into bins.
I can't see how America can become an "undeveloped nation", it's already developed. We have people who know how to farm, when there is no job to go to so you can buy food you grow your own food, it's that simple. People survived for thousands of years without the massive consumerism we all like to take part in, but I do predict that the lazy welfare takers who don't want to lift a finger except to cash a check will be the first to starve to death. Stockpiling 50 cases of canned vegetables isn't going to work either, people need to re-learn how to survive. For those people who depend entirely on money for survival it's going to be one hell of a learning curve.
e.alleg wrote:I can't see how America can become an "undeveloped nation", it's already developed. We have people who know how to farm, when there is no job to go to so you can buy food you grow your own food, it's that simple. People survived for thousands of years without the massive consumerism we all like to take part in, but I do predict that the lazy welfare takers who don't want to lift a finger except to cash a check will be the first to starve to death. Stockpiling 50 cases of canned vegetables isn't going to work either, people need to re-learn how to survive. For those people who depend entirely on money for survival it's going to be one hell of a learning curve.
This time if things would get that bad the would be survivors who have food would be the first ones killed for it.The times we live in today isn't like the market crash of 1929. Whole different breed of people in this country now and when they are hungry it's going to be ugly.There will be no orderly waiting in line at a soup kitchen nowadays , look at what those welfare bums do to people at walmart and their just Christmas shopping. Imagine them people making a run on a load of chickens when their hungry.