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Old 02-12-2009, 02:42 PM
 
13 posts, read 24,114 times
Reputation: 18

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YouTube - ' Worst economic collapse ever'

In 2009 were going to see the worst economic collapse ever, the Greatest Depression, says Gerald Celente, U.S. trend forecaster. He believes its going to be very violent in the U.S., including there being a tax revolt.
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Old 02-12-2009, 02:58 PM
 
Location: East Lansing, MI
18,071 posts, read 10,361,875 times
Reputation: 6757
LOL

Fear-mongering by the media certainly isn't going to help turn things around any sooner!

"Tax revolt"? Get your tea ready again, Boston! Please.

People need to keep living their lives. Not much has changed for my wife and I, honestly. We put a little more in savings each paycheck but we're not behaving much differently. Acting/spending/saving as per normal, if possible, is what's going to turn things around faster than anything, IMO.

But, what do I know?
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Old 02-12-2009, 03:41 PM
 
1,343 posts, read 3,044,220 times
Reputation: 980
My plan is to avoid paying taxes by not making any money.
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Old 02-12-2009, 04:21 PM
 
Location: CLT native
4,280 posts, read 10,387,626 times
Reputation: 2290
Quote:
Originally Posted by XcapefromNJ View Post
My plan is to avoid paying taxes by not making any money.
This is SOP for many LLCs, and S Corps (myself included).

Key word: Expense...

Last edited by mullman; 02-12-2009 at 04:54 PM..
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Old 02-12-2009, 04:30 PM
 
1,800 posts, read 5,307,106 times
Reputation: 741
This video clip seems awfully amateurish to me...hmmmm
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Old 02-12-2009, 05:27 PM
 
Location: Way up high
17,383 posts, read 23,135,390 times
Reputation: 20730
Im ready for the violence...(insert cocking of shotgun noise here please)


For real: Get over it and live your lives!!!!! This media is hyping everything up and putting people in a major panic. Yes, shet sucks right now but the world is not going to end!!!!!!!!! Buck up!!!!!
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Old 02-12-2009, 07:33 PM
 
1,954 posts, read 4,937,114 times
Reputation: 1121
Quote:
Originally Posted by mullman View Post
This is SOP for many LLCs, and S Corps (myself included).

Key word: Expense...
Am desperately trying to find more of these for last year right now...
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Old 02-12-2009, 08:00 PM
 
1,954 posts, read 4,937,114 times
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I think he gets carried away a bit, but he's got a very good point about the hitherto unmentioned commercial real estate collapse that's rearing it's ugly head. That could prove very nasty indeed.
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Old 02-12-2009, 08:43 PM
 
10,494 posts, read 24,444,188 times
Reputation: 6697
Quote:
Originally Posted by hooligan View Post
LOL

Fear-mongering by the media certainly isn't going to help turn things around any sooner!

"Tax revolt"? Get your tea ready again, Boston! Please.

People need to keep living their lives. Not much has changed for my wife and I, honestly. We put a little more in savings each paycheck but we're not behaving much differently. Acting/spending/saving as per normal, if possible, is what's going to turn things around faster than anything, IMO.

But, what do I know?



It is almost comical how nieve the American public is. Very soon the whole banking industry is going to collapse and everyone's savings are going to be history just like it did in the 1920's. There is no turn around in the future, period. For one thing, inflation is going to rise so bad this year that the dollar will become worthless.
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Old 02-12-2009, 08:47 PM
 
Location: Cushing OK
14,545 posts, read 18,934,517 times
Reputation: 16881
Quote:
Originally Posted by StoneOne View Post
I think he gets carried away a bit, but he's got a very good point about the hitherto unmentioned commercial real estate collapse that's rearing it's ugly head. That could prove very nasty indeed.
Where I lived in California the problem he mentioned has been visible for some time. The small stores leave and a year later they are still empty. There is hardly anyone left in the strip mall and unless there is a very busy grocery store no reason to go there. Larger spaces in malls are empty and have been for awhile. One of the big department stores closed in the Galleria and has been empty for years.

I don't think anyone should take a deep breath of relief until the commercial real estate and the adjustable rate morgages burst and the dust has settled. And when you get enough people without jobs and a portion without homes, people will not necessarily behave like good citizens. And those who have jobs and an income are not going to go and spend unless its absolutely necessary. Its going to take a lot to convince people to go out and be active consumers again and the jobless rate must reverse before that time will come.
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