Economic Armageddon by 2012...?

[droog]

was talking to a broker friend the other day and he mentioned celente (http://en.wikipedia.org/wiki/Gerald_Celente) (a trends forecaster) to me so i checked out what he had to say. not sure what to make of it, but it sounds possible....


Gerald Celente Predicts Economic Armageddon by 2012 (http://www.youtube.com/watch?v=Q2qDW34Fr64)

[The Hierophant]

Yeah, this cat knows his shit. he was the guy who predicted the fall of the Soviet Union when the CIA, etc., admittedly were taken completely by surprise.

If he's talking about food riots and the collapse of banking, it might be time to buy a farm and invest in gold.

Since I'm broke, I'll stick with hoping for some type of Mad Max / Road Warrior existence, and I'll be all set.

[AmyDaly]

Now recruiting for The gang of tranny road warriors for the future.

[The Hierophant]

Now recruiting for The gang of tranny road warriors for the future.

I'm there! All I need to do now is get a vest with spikes on it or some shit, and convert my Audi into a dune buggy.

[Sulka_bewitched_me]

It'll be more than just Economic Armageddon. Try Armageddon period. Nostradamus says December 21 2012 (coincidentally Mayan calender ends on that day), Egyptians, other ancient civilizations, all have prophecized this is the day for some serious world events/end of the world to take place if not Judgement Day itself. The sun is supposed to align in the middle of the Milky Way and according to scientists it could set the stage for some cataclysmic events to unfold. If this comes to pass economic turmoil will be the least of your problems.

[DaveinBoston]

awesome.. I can stop paying my mortgage in 3 years! Wooohooo!!!


It'll be more than just Economic Armageddon. Try Armageddon period. Nostradamus says December 21 2012 (coincidentally Mayan calender ends on that day), Egyptians, other ancient civilizations, all have prophecized this is the day for some serious world events/end of the world to take place if not Judgement Day itself. The sun is supposed to align in the middle of the Milky Way and according to scientists it could set the stage for some cataclysmic events to unfold. If this comes to pass economic turmoil will be the least of your problems.

[BLKGSXR]

People Yahoo hotjobs-Nuff said.

[MrF]

Unfortunately, I've been thinking the same things for awhile now. As Celente says, unless there is some major new technical innovation along the lines of a new source of energy to replace oil, or the invention of something great (like the car or airplane) the USA is headed towards collapse. Too much debt, both private sector and public sector, and no manufacturing base. And the debt is now growing rapidly to try to prop up the economy. It's strange how a well-educated society can ruin itself, but it's happened before in world history. It's like the poor gambler who keeps borrowing from friends to pay off old debts.

[JeniferTS]

yup, you can count on it happening just like it did back in 2000.

[eclipsemint]

Economic Meltdown

Robert Kiyosaki, the author of Rich Dad Poor Dad, predicted as early as 2000 that the market will crash around 2016 at the latest when the oldest Baby Boomers start cashing out their 401(k) plans.

Individuals whose savings are locked into 401(k) plans will suffer because these retirement plans are not flexible and do not do well in a bear market. More people taking their investments out than new investments being injected = negative growth = recession/depression.

However, if the Baby Boomers start retiring sooner, and this may occur if a prolonged economic downturn forces older people close to retirement to cash in their superannuation, then the meltdown could begin even sooner. 2012 is not unimaginable.


Peak Oil

Pessimistic predictions of future oil production operate on the thesis that either the peak has already occurred, we are on the cusp of the peak, or that it will occur shortly and, as proactive mitigation may no longer be an option, predict a global depression, perhaps even initiating a chain reaction of the various feedback mechanisms in the global market which might stimulate a collapse of global industrial civilization, potentially leading to large population declines within a short period. Throughout the first two quarters of 2008, there were signs that a possible US recession was being made worse by a series of record oil prices.

It's not that we will run out of oil tomorrow. Demand will outstrip production so that it won't be cheap. Imagine what the 5% shortage in the 70's did to oil prices and then multiply tenfold.

Skyrocketing oil prices will mean that everything is more expensive. Food, manufactured products, everything.

Leading to runaway inflation and food shortages, famine and poverty, disease and war.

(Edit:)
Of course it might not even take either of the above two catalysts: the USA might self destruct financially all on its own.

Current US National Debt: $11,328,325,000,000
Current US Debt per citizen: $37,303

http://www.usdebtclock.org/

[droog]

yup, you can count on it happening just like it did back in 2000.

lol, it is happening.


http://www.usdebtclock.org/

and damn dude, that's one crazy ass page.

[SexChangeTranny.com]

I think it is all a big hype. It is simply the reset of the calendar. It just means we have to start fresh... But what does that mean? How fresh do we have to start?

[rockabilly]

Whatever happens , happens . " This has all happened before ... "