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The Greatest Depression Under Way
Asheron
Posts: 1,229 Forumite
"The Greatest Depression" that The Trends Research Institute forecast, well before Wall Street or Washington would acknowledge recession, is upon us.
The global financial markets are collapsing.
All the pundit's cautious predictions and business media's hopeful expectations at the New Year for an economic turn around and imminent market bottom were dead wrong. There will be no turn around in the second quarter of 2009 or 2010 or 2011 America and much of the world has entered "The Greatest Depression."
The global financial system, built on endless supplies of cheap money, rampant speculation, fraud, greed, and delusion is terminally ill and will not be coaxed into remission by stimulus packages nor restored to health by government buyouts and bailouts.
Today, the MSCI World Index of stocks in 23 developed nations fell 4.9 percent to 713.75, the lowest closing level since March 2003, and its Emerging Markets Index slid 5 percent. The Dow followed, plunging 300 points, closing below 7,000 for the first time since 1997.
There is no stock market bottom in sight. The only figure that can be forecast with confidence is that the Dow won't reach zero!
As the crisis worsens, governments will take draconian measures to prevent total economic collapse and public panic. We have cautioned the likelihood of such measures before. But the rapidity and severity of the economic unraveling now demands immediate attention.
Expect massive bank failures, runs on banks, and bank holidays. Even if deposits are FDIC insured, quick access to money is by no means assured. At minimum, have reserves on hand for emergencies.
Trendpost: When the ship is sinking there are very few options: Life boats, life rafts, life preservers and for the late to act, possibly a few pieces of floating debris to cling to.
The Trends Research Institute
The global financial markets are collapsing.
All the pundit's cautious predictions and business media's hopeful expectations at the New Year for an economic turn around and imminent market bottom were dead wrong. There will be no turn around in the second quarter of 2009 or 2010 or 2011 America and much of the world has entered "The Greatest Depression."
The global financial system, built on endless supplies of cheap money, rampant speculation, fraud, greed, and delusion is terminally ill and will not be coaxed into remission by stimulus packages nor restored to health by government buyouts and bailouts.
Today, the MSCI World Index of stocks in 23 developed nations fell 4.9 percent to 713.75, the lowest closing level since March 2003, and its Emerging Markets Index slid 5 percent. The Dow followed, plunging 300 points, closing below 7,000 for the first time since 1997.
There is no stock market bottom in sight. The only figure that can be forecast with confidence is that the Dow won't reach zero!
As the crisis worsens, governments will take draconian measures to prevent total economic collapse and public panic. We have cautioned the likelihood of such measures before. But the rapidity and severity of the economic unraveling now demands immediate attention.
Expect massive bank failures, runs on banks, and bank holidays. Even if deposits are FDIC insured, quick access to money is by no means assured. At minimum, have reserves on hand for emergencies.
Trendpost: When the ship is sinking there are very few options: Life boats, life rafts, life preservers and for the late to act, possibly a few pieces of floating debris to cling to.
The Trends Research Institute
As an investor, you know that any kind of investment opportunity has its risks, and investing in Stocks or Precious Metals is highly speculative. All of the content I post is for informational purposes only.
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Comments
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Plagiarizing other people's articles really isn't on.“I could see that, if not actually disgruntled, he was far from being gruntled.” - P.G. Wodehouse0
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Plagiarizing or Sharing ?As an investor, you know that any kind of investment opportunity has its risks, and investing in Stocks or Precious Metals is highly speculative. All of the content I post is for informational purposes only.0
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Because I have no life life experience whatsoever, am naive and ill-informed.........
Ok if you say soAs an investor, you know that any kind of investment opportunity has its risks, and investing in Stocks or Precious Metals is highly speculative. All of the content I post is for informational purposes only.0 -
Forgive my ignorance but why should we give a t0ss if stock markets lose value? People who own shares accept that they could lose the value of their investment. And if my house plummets in value so will everyone else's, so it doesn't matter. And if currencies become unviable I'll be paying for goods in chocolate, whisky and cigarettes
My Debt Free Diary I owe:
July 16 £19700 Nov 16 £18002
Aug 16 £19519 Dec 16 £17708
Sep 16 £18780 Jan 17 £17082
Oct 16 £178730 -
Is it only me, or do other people think that the woman in the picture has an air of nobility about her?No reliance should be placed on the above! Absolutely none, do you hear?0
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