Gerald Celente, Their is NO Economic Recovery, Its A COVERUP

[Crewleader]

Economics / Recession 2008 - 2010 Oct 21, 2009 - 09:32 AM

By: Submissions

The Second American Revolution

The Worst Is Yet To Come

Video - Interview With Gerald Celente

Their is No Economic Recovery-Its A Cover-up

http://www.marketoracle.co.uk/Article14399.html

[marmar]

1. Frightening and fascinating.

[gateley]

2. Celente is one of the ones I pay attention to. He's a little doom and gloom, but

he's been accurate in the past on a lot of things others were dissing him for.

[The Wielding Truth]

3. He's a Fox/Glenn Beck darling.

[AllentownJake]

4. I'm guessing a guy who says that the economic recovery is a giant fraud

Wouldn't be appearing on Keith Olbermann. The guy has been an equal opportunity disser. He has a general disdain for all politicians.

[troubledamerican]

5. + 1

[Warpy]

9. He's right about part of it

but not in the way he thinks he's right about it.

The problem isn't that Obama printed money to provide a small stimulus that has kept us out of a real Depression, it's that Stupid printed money for 8 solid years while fighting 2 ruinous wars and cutting taxes on his rich buddies and shipping our remaining jobs offshore.

He also needs to realize the dollar isn't diving, it's sliding and it's not down to its lowest level under Stupid yet. It will get there, though, unless the underlying problems in this economy of deregulation, wealth inequality, and the destruction of industry are addressed.

Republican dogma put into practice has killed this economy. Again.

This dude completely missed that part.

He's right that the worst is yet to come. He's wrong about the ordinary person investing in gold. That only works for the rich. He's right about Xmas gifts. He's also right about art as being a driving force for a new economy, although it needs seed money for startups even more.

That seed money is going to have to come from increased taxes on plutocrats. They won't invest in this country voluntarily. They have to be forced. They knew that in the New Deal. They need to relearn it now.

He's not going to be happy about that part.

[roamer65]

12. We should balance the budget on the backs of the wealthy, don't you think?

1.4T of new tax increases on everyone making over 250k a year. It would bring stability to the dollar and financial markets. The idea that low taxes on the wealthy promotes economic growth is Larry Kudlow supply-side bullshit.

[barb162]

16. When the tax rates were much much higher on the weathy

our economy was much better. Of course, back then, we also weren't offshoring every job.

[clear eye]

13. Thanks. Your main points need to be made.

Have to disagree w/ you on gold, though. Some people were wide-awake about what "STUPID"'s policies had done to the economy. Even if you had waited until one year ago, after the first bailout, a middle class person would have made ~40% on his/her investment. Both Thom Hartmann and Randi Rhodes had recorded ads promoting a company allowing small investments in gold. I know of another, EverTrade Direct Brokerage, that for at least 10 years has allowed you buy Australian gov't gold certificates (at with a low minimum) and holds them for you sparing you the cost of storing gold or even the certificates. Bad idea to buy in now, though, I think. Better to wait for the next hit of good news about the dollar, and get in when gold prices drop a bit.

[roamer65]

14. I steer way clear of those "gold investiment" companies.

They are usually a rip-off. Being a hard core pre-1933 US gold collector, those ads on the radio really irritate me...lol.

Pre-1933 US (certified PCGS and NGC) gold coin prices have gone through the roof.

[clear eye]

15. They usually are, but

a couple that are dealing in Perth Mint's gold certificates are reputable and have minimums accessible to the middle class. I repeat, though, now is not the time to buy, IMO.

[FlyingSquirrel]

6. Unrecced for poor spelling

"Their" and "Its"... pet peeves of mine.

:P

[angryfirelord]

7. MarketOracle is basically a pro-free market, anti-government site

So naturally all the tin-foil wearers and Ron Pauls are going to rant on about how we're all doomed unless we overthrow the government and return to the Gilded Age. There was one article today that basically said the dollar was going to collapse in 30 days, which is utter rubbish unless you're a lunatic goldbug. Please take some salt before you read. :)

[phasma ex machina]

8. Rosen's latest

opus piqued my interest in The Delta Phenomenon.

[Odin2005]

10. This guy sounds like just another "Buy Gold" Libertarian nutcase.

[roamer65]

11. He is absoutely right on many points.

We can't print our way out of this crisis. Massive currency creation will only bring on a massive currency crisis. I do agree with him that current times cannot be compared to the 1930's. The gov't fiscal status is FAR worse now than it was in 1929.

[barb162]

17. There is no economic recovery when jobless claims, foreclosures

and bankruptcies are high. Period.