Economic Meltdown 2012

Here is a scary video by Gerald Celente (he is being interviewed on Fox News), head of the Trends Research Institute, predicting a massive economic collapse by 2012. Let us hope this can be reversed or this is a wrong prediction.

I won’t watch anything on Fox news. Sorry. But if this is true, can the Mayan calendar have some truth to it??? :eek: :wink:

What’s wrong with Fox News? They seem to be the only honest news source right now and the ratings show America trusts them more than MSNBC (it seems GE, its parent company, has sold out to Uncle Sam for bailout bucks), CNN (“Clinton News Network” anyone) and the major networks (they sold out to liberal pablum years ago).

I don’t agree. I’ve watched them a few times and I find them to have more errors than other news sources. You must be politically conservative. :wink: I actually trust MSNBC more than Fox. A higher ratings number doesn’t mean “more trusted.” I have found that many liberals will watch conservative news sources, where as many conservatives do not watch liberal news sources. This can tip the ratings numbers.

Well, either way, as far as I know, Celente is not affiliated with Fox News. He researches trends in the economy and such and heads up his own research institute. He was merely being interviewed on one of their shows.

Gotcha. I’ll be on the look out for him then on a news source I trust. :slight_smile:

My post was a (probably poorly pulled off) joke on the Mayan calandar ending on 12/21/2012. :ouch:

Here’s where Obama really comes into full power.

The Church’s ultimate trial

675 Before Christ’s second coming the Church must pass through a final trial that will shake the faith of many believers.574 The persecution that accompanies her pilgrimage on earth575 will unveil the “mystery of iniquity” in the form of a religious deception offering men an apparent solution to their problems at the price of apostasy from the truth. The supreme religious deception is that of the Antichrist, a pseudo-messianism by which man glorifies himself in place of God and of his Messiah come in the flesh.576

But my understanding is that Obama’s popularity is waning in the world. After all, as Celente discusses, India, China and Russia are thinking of getting of their currency reserves. A lot of other countries probably see Obama as foolish and inexperienced. It’s only in America where he seems to be so popular (Obamamania) and even that is waning if polls are to be believed.

There were also people that smartened up when they started seeing the reality of Hitler and Mussolini. Too late once they were in. They made sure they stayed in.

I do have a certain nervousness about the marriage of government and big business, and it goes well beyond GM and Chrysler.

I think 2012 is a bit optimistic. The stock market did its “dead cat bounce” after the passage of the pork package (aka stimulus bill) and investors are now its starting to realize how little of the deficit spending it actually going towards “shovel ready” infrastructure projects and how much will be expansive government social spending that will accumulate debt and interest in the years to come.

Several Obama supporters tried to pull as much “positive” news from the spring’s normal increase in economic activity to proclaim “the worst is over” but real measurable results are still in decline. Plan on 12% unemployment by Christmas.

You might be right about 12% unemployment. I couldn’t say. I will say that the small businessmen I know are not hiring and are not investing, largely because they don’t know (but fear) what all this administration has in mind for the economy and for them. I really do think that right now we’re in a “Democrat recession”. Until all the Pelosi/Obama shoes drop, I don’t think anybody is going to be in a mood to invest, whether on Wall Street or on Main Street.

I see where, in my state, power companies have supported a bill allowing them to raise rates in order to meet “global warming” mandates by putting money into whatever this government decides is truly “green energy”. I guess they’re hedging against fines to be imposed by burning fossil fuels and are going to generate their own “carbon offsets” with consumer and government money. Knowing that, they’re getting ready.

So, if one has a business that uses a lot of energy, what would one do? Expand production based on today’s costs, or wait and see what it’s all going to cost down the road. Add to that the fact that businesses don’t know what the healthcare bill is going to cost them, and the further fact that they are likely to be facing higher interest costs in the future and higher taxes, but don’t know what they are going to be. Further, if your business is non-union, how do you know you won’t be unionized the minute this government does away with secret balloting in union elections.

What they do know is that the government is going to impose those things, and that foreign firms will not have to deal with similar mandates. Who would be optimistic in a situation like that?

And who would hire? The government seems likely to impose a requirement that businesses incur additional COBRA costs beyond what is already required of them under FMLA. So, maybe you were too optimistic and hired more people thinking the economy would turn around, but find that your energy costs and taxes are worse than you anticipated. So, you might have to lay people off. But if you do, maybe it will still cost you a lot in benefits to laid off workers. Your present answer is simple. You don’t hire new people, and you don’t replace those who leave. Perhaps you lay some off now while you can still do it.

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