100% Inflation – 90% Stock Crash – 50% Unemployment
Billionaire Donald Trump and best selling author and money manager Robert Wiedemer just predicted the market is going to get much, much worse. “This is no recovery,” he says [Wiedemer]. “And this is no ‘down cycle’ that will soon be followed by a reliable ‘up cycle.’
This is a big, multi-bubble pop and it’s far from over.”
In a nutshell, Wiedemers’ best seller book, Aftershock
Billionaire Donald Trump says the U.S. economy is poised for “massive inflation” and is warning investors to take steps now to protect themselves.
Trump told investors during a recent CNBC interview that they should not trust official government statistics. He even questioned the “official unemployment” numbers. “It’s over 20 percent. It’s not 8.3 percent,” Trump said.
John Williams’ www.shadowstats.com is an excellent site to discover ‘real’ unemployment numbers and how the government has changed the rules of how they are reporting this number over the years (skewed to make it look better than it really is).
Trump also thinks skyrocketing oil prices will cripple the U.S. economy. “Right now, [oil] is at an all-time record for this time of the year, in the summer they predict $5 gasoline, maybe $6.”
Robert Wiedemer stated in a recent interview, “The data is clear, 50% unemployment, a 90% stock market drop, and 100% annual inflation . . . starting in 2012.”
One could argue that Wiedemer has motive for painting doom and gloom to sell a book. However his previous economic predictions have come true, lending some credibility to his current stance (of which many others similarly agree). His co-authored book, America’s Bubble Economy, published in 2006, accurately predicted the Great Recession and the popping of the housing, private credit, stock and consumer spending bubbles (same as some others with contrarian views during that time).
I’m not a financial expert by any means, but even I realized that something was not right during that time, just as I feel something is not right, now. This false ‘recovery’ is 100% fake in my opinion, being financed by newly printed digi-dollars out of thin air. This is all going to bite us in the a$$ big time, one day. You can’t get something for nothing… there’s no such thing.
I haven’t read Aftershock
One thing for sure, it’s more fuel for the fire of prepping!
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@Ken; Not a billionaire, so I can’t offer any insight from that point of view. I will say that I bought all the gold and silver I could afford from 1998 to 2006. I have done well. A lot better than the 401ks that my running buddies’ had stayed in. Am I wealthy, no, but I don’t owe anyone any money and I own my own home and have a considerable physical and financial nest egg. I was prudent enough to take my 11 years of active duty and finish a career in the reserves with 33 yrs for pay at E-8 with 6000 points (the ones that know will understand). It is a good life, but I worked damn hard for it. Don’t know if I agree with the 90% market drop. My best estimate was about a 3000-4000 point Dow, which would be about 65-75%. I also don’t trust the gubment stats but I don’t think they are quite that high though (25%). Reason being is that there would be blood in the streets at 25% OVERALL (real) unemployment as that would mean the Hispanic and Black unemployment would be much higher. 50% and then you’re talking revolution and complete civil breakdown and anarchy. If you recall in some of my other posts this “slow burn” to the ground is my selection for “worst case” scenarios for upheaval having more impact than anything but the most catastrophic physical SHTF scenarios we have. It will be like a dam breach, as the dam is overtopped, the flood will get bigger and bigger until the dam (our worldwide economy) is completely destroyed. MOVE NOW! MOVE TO A RURAL LOCATION WITH LIKE MINDED PEOPLE AND BECOME SELF SUFFICIENT. WITH THE RIGHT MOTIVATION AND INFORMATION YOU COULD BE LIVING 90% SELF SUSTAINED IN LESS THAN A YEAR. IMHO! Survive well. Enjoy.
Worldwide governments, central banks and other financial institutions will “kick the Can” down the road for as long as possible. There is no alternative.
I would count on a long period of economic doldrums such as Japan has had for the last twenty years.
Europe and Euro can’t collapse without financial Armageddon. The Germans and the Anglo Saxon Euro countries may try and set Club Med countries adrift to try and contain the fallout.
Some black swan event will bring the whole lot crashing down.
Aftershock is a good read. The Weidemer brothers impressed me with their methodology described in their book called STEPS. STEPS is a simple approach to how new products are brought to market. Without these new products a financial system begins fizzle. Two things I see being a problem right now. Moore’s Law is hitting the wall on semiconductor devices. Devices which have driven our economy and productivity tremendously for the last 25 years. What is known as “doubling of density” in semiconductors every 18 – 24 months, (Moore’s Law) is grinding to a halt along with the productivity it created. Unless STEPS in nano tube technology can continue where semiconductors leave off, our technology will flatten out and the economy with it.
@All; the following link will give probably the best overall explanation of the impending financial doom that I have seen. I do not subscribe to the site and have no financial interest other than owning my own PMs purchased from independent brokers.
http://www.bullionbullscanada.com/index.php?option=com_content&view=article&id=11900:debt-denial-and-default&catid=64:presentations&Itemid=141
It is a VERY long but informative read. Survive well. Enjoy.
this is nixon’s rooster coming to roost. (Tricky Dick) Remove the gold standard, put crude oil sales behind the USD for support, print more currency, create massive debt, create free trade for all corporations, then switch the oil sales off the mercantile to another exchange in EURO or another eastern currency, and you have depression in the USA forever….It’s just about here ….
The Real Standard Was: Silver, not Gold!
The definition of a “dollar” was set as a specific weight and fineness of silver; commonly referred to as the silver dollar: 371.25 grains of silver.The silver dollar was the unit of money or account that the Constitution and the Original Coinage Act of 1792 established. Silver was exchangeable with gold at the rate of 15 to 1. Neither the Constitution nor the Original Coinage Act of 1792 mentioned or established a gold dollar. An U.S. gold dollar did not exist at this time in history and did not appear until 1849. The gold eagle coin was of the value of ten dollars – the dollar being defined as the standard weight of silver of 371.25 grains of silver. Gold exchanged for a dollar at 24.75 grains of gold (10 x 371.25 divided by 15), however, there was not any actual gold dollar coin at that time.
The Constitution established that the States could not accept anything but gold and silver coin as legal tender and that Congress had the authority to mint silver and gold coins, but not the authority to print or emit bills of credit or paper money.
Now that we have discovered just what the Constitution and the Original Coinage Act of 1792 established as our monetary standard and system – the standard being a defined weight of silver with a bimetallic coinage system of silver and gold coins
When economic times get bad, crime goes up. I find it interesting that the Gov’t is pouncing on recent gun attacks to disarm citizens.
The job market is improving, so I think the financiers are trying to “ride it out” and print more money so they can bring in more taxes. The market in California is sizzling. I see a noticeable uptick in jobs here in the Cleveland, OH, area. The numbers still bother me. But if the dollar looses its status as a world currency and interest rates do go up, we are in big trouble.