Economist Caution: Prepare For 'Massive Wealth Destruction'

[nico08]

The market ended on a good note on Friday. I also read the attached article, which some might say is doom and gloom. Do you think there is any credence that should be attached to the article, or do you think the economic outcome for 2013 is a 50/50 roll of the dice?

Economist Caution: Prepare For 'Massive Wealth Destruction'
Saturday, 21 Jul 2012 05:34 PM
By Christian Hill

Take immediate steps to protect your wealth . . . NOW!

That’s exactly what many well-respected economists, billionaires, and noted authors are telling you to do — experts such as Marc Faber, Peter Schiff, Donald Trump, and Robert Wiedemer. According to them, we are on the verge of another recession, and this one will be far worse than what we experienced during the last financial crisis.

./.

Read more: Economist Caution: Prepare For 'Massive Wealth Destruction'

 

[braumeister]

For every bear there is a corresponding bull.

 

[NW-Bound]

I need someone to post a bullish article to cheer me up.

 

[REWahoo]

An article that gives credence to Donald Trump's economic views? You have to be kidding...

 

[nico08]

I agree that I place no value on Trump economic viewpoint. I just wondered if there was merit to the arguments supporting an economic collapse in 2013 and if there is anything that we should do about it now.

Some other articles I have read have predicted a low rate of return from the time of the recession and moving forward for perhaps 5 years.

 

[MichaelB]

An article that gives credence to Donald Trump's economic views? You have to be kidding...

The others aren't exactly known for their mainstream views either.

 

[REWahoo]

I didn't watch the video to see what the author is selling, but I'm sure "operators are standing by to take your order".

 

[M Paquette]

That’s exactly what many well-respected economists, billionaires, and noted authors are telling you to do — experts such as Marc Faber, Peter Schiff, Donald Trump, and Robert Wiedemer.

I don't see any well respected economists in that list. ;-) Famous talking heads, touting their books, funds and newsletters, maybe...

You could probably get better financial planning advice from Paris Hilton than a couple of these folks.

 

[nico08]

All Paris Hilton knows about is the price of small dogs, pocketbooks and shoes.

 

[Purron]

I didn't watch the video to see what the author is selling, but I'm sure "operators are standing by to take your order".

...and they look something like this....

 

[NW-Bound]

Don't know much about Paris Hilton, but I thought she's making good money somehow, doing what, I have no clue.

And if someone knows how to make money in this bad economy, I wouldn't knock them.

 

[growing_older]

This is the same Wiedemer that's been forecasting the ultimate doom and gloom since 2010. He's good at getting coverage, especially through Newsmax, and he updates the details slightly from time to time, but it's still the same unprecedented disaster waiting to happen. Fear sells. He sells it hard with calls for IMMEDIATE action, every time.

 

[Dawg52]

I need someone to post a bullish article to cheer me up.

I googled, but couldn't find one. Maybe that's a bullish sign.

 

[Purron]

Don't know much about Paris Hilton, but I thought she's making good money somehow, doing what, I have no clue.

And if someone knows how to make money in this bad economy, I wouldn't knock them.

I'd trust her advice more than Wiedemer. Check out this article from a year ago about him from CNN Money/Fortune. He's making big bucks selling his gloom and doom predictions.

Aftershock: Finding fortune in marketing doom - The Term Sheet: Fortune's deals blog Term Sheet

 

[easysurfer]

I think... RANDOM.ORG - Dice Roller

That's why I don't try to time the ups and downs.

 

[yakers]

I need someone to post a bullish article to cheer me up.

OK from The Economist Magazine, not happy happy but positive and well thought out: America

 

[NW-Bound]

Great! I already resigned to Dawg's post that bull scarcity as hen's teeth is a contrarian sign.

 

[Nemo2]

I didn't watch the video to see what the author is selling, but I'm sure "operators are standing by to take your order".

+1......clicked the link, and thought "Oh".

 

[easysurfer]

I'll take another stab at it. I just flipped an old Buffalo Nickel ten times...and it ended up 50/50


You can try again..and use a different coin

http://www.random.org/coins/

 

[bld999]

Most of those guys only have the broken clock effect to save their credibility.

 

[obgyn65]

Well I am not an economist but I would agree with this assumption. In my view, the way our economies work has shown to be unsustainable. On the other hand, I tend to be pessimistic by nature, always looking at the glass half empty.

According to them, we are on the verge of another recession, and this one will be far worse than what we experienced during the last financial crisis.

 

[teejayevans]

Take immediate steps to protect your wealth . . . NOW!

Anytime I see the urgent or do it now clause, I think to myself, SCAM.
TJ

 

[antmary]

I believe they are selling newsletters.

 

[growing_older]

I tried selling the "Things will look bad, but somehow we'll Muddle Along" newsletter, but I couldn't get enough subscribers. Imminent Disaster and call to action get more people to signup. Accuracy is less important than Fear.

 

[ducky911]

tip...you need to buy his "BAD NEWS in 2013 " book NOW!...
before he changes it to 2014