‘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