‘Buy a Gun’ & ‘Keep Your Powder Dry’: Economists Warn of Looming ‘Economic 9/11′
‘Buy a Gun’ & ‘Keep Your Powder Dry’: Economists Warn of Looming ‘Economic 9/11′ --------------------------------------------------------------------------------
Despite recent reports that the U.S. economy is “recovering” and that there are signs of economic growth, some analysts are less than thrilled with what they see in the near future. In fact, they’re downright scared.
Harry Dent, author of “The Great Crash Ahead,” believes that the global debt bubble is going to burst and when it does, there will be a massive market crash. It should be noted that this is a revision of his earlier prediction that a crash would hit in 2012. He says he modified his forecast because the global central banks have been pumping the markets with so much money, stocks have been given a temporary boost. But he warns that as soon as the short-lived boost comes to an end, the crash will be hard.
“This will be a repeat of 2008-09, only bigger, when it finally hits,” Dent told USA Today.Gerald Celente, a market analyst at the Trends Research Institute, believes Americans should brace themselves for what he calls an “economic 9/11.” He blames policymakers for their inability to solve the world’s financial and economic woes, according to the USA Today report.
Once the meltdown hits, he says, it will lead to social upheaval, anti-government sentiment, a devalued U.S. dollar, and skyrocketing unemployment.
“Celente won‘t rule out another financial panic that could spark enough fear to cause a run on the nation’s banks by depositors,” USA Today reports. “That risk could cause the government to invoke ‘economic martial law’ and call a ‘bank holiday’ and close banks as it did during the Great Depression.”
“Prechter predicts that the major U.S. stock indexes, such as the Dow Jones industrials and Standard & Poor’s 500, will plunge below their bear market lows hit in March 2009 during the last financial crisis,” USA Today reports. “The brief recovery will fail as it did in the 1930s, he says"
Celente advises investors to buy gold – it won’t lose its purchasing power when the dollar tanks. Also, he says, buy a gun to protect yourself from marauders in search of food and money. He also advises people to plan a getaway to places with “more stable finances and governments.
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Black Blade: Sounds reasonable.
__________________ When you're born you get a ticket to the freak show. When you're born in America , you get a front row seat. - George Carlin
Big Time 427 Damn near want to lock the door when I'm inside lately. Bunch of people just walking into folks houses and robbing them, shit!!! Pretty bold if you ask me, they might just get a surprise if they come in here
Big Time 427 Damn near want to lock the door when I'm inside lately. Bunch of people just walking into folks houses and robbing them, shit!!! Pretty bold if you ask me, they might just get a surprise if they come in here
I have been locking my door, even when home, for years. I live less than a quarter mile from the entrance to a county park that has had it share of drug users and drinking parties. I have had people come to my door as late as midnight with car problems or because they got stuck in the park.
By the way, I do not answer the door after dark without my pistol.
__________________
There are two kinds of people, those that are prepared, and those that suffer.
Gas is pushing $4.00 a gallon here.
Some are saying five plus by summer.
I dont want too say the sky is falling.
But watching our debt clock and everytime I go too the store.
Damn prices for necessities are going through the damn roof.
Inflation is slowly eating us alive.
Even with cautious spending. No luxeries.
I am watching people struggle too stay above water.
Myself included.
Yes something is going too give and I dont think it is going to be pretty.
__________________
To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts. "Man needs but two things to survive alone in the woods. A blow up female doll and his trusty old AK-47" - Thomas Jefferson 1781
To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
Gas is pushing $4.00 a gallon here.
Some are saying five plus by summer.
I dont want too say the sky is falling.
But watching our debt clock and everytime I go too the store.
Damn prices for necessities are going through the damn roof.
Inflation is slowly eating us alive.
Even with cautious spending. No luxeries.
I am watching people struggle too stay above water.
Myself included.
Yes something is going too give and I dont think it is going to be pretty.
Welcome to the "resession" or "depression" depending on how you like your spin control! Only not as bad as 100 years ago because the GDP is so big that we can't "bottom out"
If it does get worse, I don't think a gun and powder will do much to feed the family. I think that twa has the right idea - stocking up on food! That and paying off your bills. They can't come collect if you are all paid off! If you are down and out and can't pay the mortgage you aren't going to need guns and powder. Today, in this economy, paying off bills is the number one priority! Do whatever it takes but get yourself "stocked up" financially to weather the storm.
The last time I used my CC was when I swapped it to my credit union to get that "zero financing" for switching, and once that is paid off it is only coming out for emergencies like new tires or something "big" like that.
To be honest once I pay off the CC stuff I should be able to support the family on my income alone. And my job isn't going anywhere. Wife works at a restaraunt which to be honest their business seems to thrive regardless of the economy.
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‘Buy a Gun’ & ‘Keep Your Powder Dry’: Economists Warn of Looming ‘Economic 9/11′
Only not as bad as 100 years ago because the GDP is so big that we can't "bottom out"
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