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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.
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.
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!!!!!
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.
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.
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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