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8 really, really scary predictions

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slipslidingaway Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Dec-10-08 04:39 PM
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8 really, really scary predictions
"Dow 4,000. Food shortages. A bubble in Treasury notes. Fortune spoke to eight of the market's sharpest thinkers and what they had to say about the future is frightening..."

http://money.cnn.com/galleries/2008/fortune/0812/galler...
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slipslidingaway Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-16-08 09:36 AM
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1. Doomsayer still grim on future
http://www.poughkeepsiejournal.com/article/20081215/BUS...


"...A YouTube video called "Peter Schiff Was Right" shows him being repeatedly mocked when he went on TV stock shows to make those ultimately correct calls in 2006 and 2007, including forecasting a recession 21/2 years ago.

Now, in the midst of what's already the biggest financial crisis in decades, the prominent purveyor of gloom and doom still sees far tougher times ahead - including a depression and a bear market he thinks will last another five years or more...


How bad do you think things will get?

Tens of millions of people unemployed, inflation spiraling out of control, the government instituting price controls that result in shortages and blackouts and long lines for things. I think things are going to get very bad.

From an investment point of view, investors need to stay clear, because they need to realize that it's not just U.S. stocks and real estate that are going to lose value, but U.S. bonds. This is the last bubble yet to burst. I think we're going to see a collapse of the bond market sometime during Obama's first term, and interest rates are going to spiral out of control, and the dollar is going to just be destroyed..."



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Booster Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-25-09 10:15 PM
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2. I just read on the internet that the next "meltdown" will
include companies that hold annuities; that most will probably go out of business, which means I will be up the creek in a chicken-wire canoe; the bulk of my retirement money is in annuities, which of course promised they would be around when I die.
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slipslidingaway Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Feb-28-09 11:44 AM
Response to Reply #2
3. For your sake and the sake of many others I hope that does
not happen, too many people turned a blind eye to the housing bubble as it was building.

:(

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