Celente: Dollar not worth its paper, Greatest Depression up ahead

[RKP5637]

Run time: 05:04 https://www.youtube.com/watch?v=478JH3lkwJ4   Posted on YouTube: August 02, 2011 By YouTube Member: RussiaToday Views on YouTube: 12752   Posted on DU: August 03, 2011 By DU Member: RKP5637 Views on DU: 2131

 
"RT spoke to Gerald Celente from the Trends Research Institute and publisher of the Trends Journal. He believes, despite the last-minute debt deal, the U.S. is heading towards the next Great Depression."

I wonder about this too, and I'm not an alarmist, I've just managed to miss most of the downturns. ... but this one, if possible, I'm not sure how to get around ... Gerald Celente made a lot of sense to me in this short video clip, anyway, just passing this along, don't shoot me, the messenger!:)

[lumpy]

1. I guess the great balloon might really burst. If we do slide into

another great depression, and it it's likely we will unless God sends us another savior, it will be a lot worse than experiencing mere austerity.

[RKP5637]

3. And probably far worse than the last one with all of the globalization now. I'm sure

in the back rooms of DC they know "exactly" what is going on, the risk, and where we might be headed. And I bet many of them have their cash/assets well protected. Just on the back of a napkin much of what's going on makes no sense to me than I think the balloon might burst.

[Skink]

2. But gold is safe it's not a bubble.

[RKP5637]

4. It's a little late now to get into gold?? or silver?? n/t

[WingDinger]

5. Poor dear job creators. At least we can offfer them lower taxes and tight money.

[RKP5637]

8. Yep, that'll fix it all, more tax cuts, maybe 50% more tax cuts, that ought to

fix it all for the poor dear job creators! Those poor little dears, they're going broke creating all of those jobs. The country is flooded with jobs from all their hard work.
:sarcasm:

[dash_bannon]

6. We're Poking the Depression Dragon's Belly

Having spent a couple of weeks in my hometown, Toledo, OH, I can see how a depression is coming around the corner. There are homes there selling for $30,000 that sold for $50,000 when I was a kid in the 80s. The majority of people there can't sell there homes for two main reasons; first they'd have to take less money than they're paying on their mortgages and second, the economy there is dying. Few people can buy homes because of low wage jobs or because they're unemployed.

I think the way to fix the problem is to grass-roots entrepreneurship and utilize city government to take over abandoned buildings and create publicly funded and publicly owned works programs that put people to work producing goods and services locally.

Think globally, act locally.

I don't think we can afford to wait for the government or big business to bail us out this time.

[truth2power]

7. "The dollar isn't worth the digital paper it's not printed on." - Celente

About sums it up. }(

[RKP5637]

9. Toilet paper comes to mind, that'll be a good use for the excess dollars flooding the market. Damn,

but it's digital, useless.

[Frustratedlady]

10. Have you used any toilet paper from a public restroom, lately?

If it gets any narrower, you'll be able to use it for shoestrings!

[RKP5637]

11. Actually not lately, but I do recall it being sooooo thin it was hard to

even get off the roll. Now more narrow, that's telling. Maybe we can use TP size to gauge the stability/success of the economy!:)

[Amonester]

12. And the TeaRRorists keep winning the battles they start, because?

Who is going to CALL them for what they R?

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=439&topic_id=1235538