Predictions of an imminent 25 year depression

[Senator]

Just because wages are on a downward slope, and have been for over five years, there is no need to have a depression.

Just because our government is printing money and going deeper in debt, along with the entire rest of the world, there is no need to have a depression.

Just because our income and wage disparity is the worst it has ever been, there is no need to have a depression.

Just because we have less purchasing power to buy homes, there is no need to have a depression.

Just because more and more seniors do not have enough money for retirement, there is no need to have a depression.

What are the odds of a depression?

It may or may not happen, but it is better to go with the results of the past 150 years, than what might be.

 

[razztazz]

Actually, I spent most of today with the beagle looking for rabbits. Didn't see many, but I did bag one of the few I saw.

Jed Clampett?

 

[aja8888]

What are the odds of a depression?

as far as I am concerned, the odds are 50/50...either we are going to have one or not.

 

[VaCollector]

Hah! I bought gold ammunition. Top that.

....shouldn't it have been SILVER...for the vampires and the zombies??

 

[LOL!]

I must admit that I was discomforted after reading the following article and watching the video interview with Jim Rickards ….

I wanted to ask you now that you have read all the responses, if you have changed your comfort level and if not, why not?

 

[6miths]

I think that the Ghostbuster said it best,

Dr. Peter Venkman: This city is headed for a disaster of biblical proportions.
Mayor: What do you mean, "biblical"?
Dr Ray Stantz: What he means is Old Testament, Mr. Mayor, real wrath of God type stuff.
Dr. Peter Venkman: Exactly.
Dr Ray Stantz: Fire and brimstone coming down from the skies! Rivers and seas boiling!
Dr. Egon Spengler: Forty years of darkness! Earthquakes, volcanoes...
Winston Zeddemore: The dead rising from the grave!
Dr. Peter Venkman: Human sacrifice, dogs and cats living together... mass hysteria!



Yes it's going to be bad...

 

[brewer12345]

Jed Clampett?

Not old enough yet.

I was in the same spot Friday night and saw at least 10 rabbits, but I was hung over from GABF the night before and armed with a squirrel gun, so I mostly missed (got one). Today I had the rabbit gun and the rabbit dog and saw very few (got one). Since this was on public land, any Texas Tea that might come bubbling up would not have been mine anyway.

 

[ripper1]

I think that the Ghostbuster said it best,

Dr. Peter Venkman: This city is headed for a disaster of biblical proportions.
Mayor: What do you mean, "biblical"?
Dr Ray Stantz: What he means is Old Testament, Mr. Mayor, real wrath of God type stuff.
Dr. Peter Venkman: Exactly.
Dr Ray Stantz: Fire and brimstone coming down from the skies! Rivers and seas boiling!
Dr. Egon Spengler: Forty years of darkness! Earthquakes, volcanoes...
Winston Zeddemore: The dead rising from the grave!
Dr. Peter Venkman: Human sacrifice, dogs and cats living together... mass hysteria!



Yes it's going to be bad...

I beat you to that one already.

 

[6miths]

Lol you're right of course. I missed it!! Great minds?

 

[traineeinvestor]

He's been preaching the imminent end of the financial world for a very long time. He may or may not be right eventually but he's been very wrong so far and I have no intention of planning my finances and lifestyle around his speculations of financial armageddon.

I did read one of his books last year - it was a waste of good reading time.

 

[ripper1]

The great Harry Dent anyone?

 

[traineeinvestor]

The great Harry Dent anyone?

Or Robert Pretcher Jr ....

It's kinda scary how much coverage these guys can get by pandering to fear and ignorance.

 

[rodi]

Jed Clampett?

Not old enough yet.

Jethro?

 

[brewer12345]

Jethro?

Eh, call me a suburban redneck.

 

[Golden sunsets]

I wanted to ask you now that you have read all the responses, if you have changed your comfort level and if not, why not?

Hi LOL; I'm just reading them now. I'm taking comfort from the majority who have roundly trounced his prediction. I'm no one to overly react to things. On the one hand he does seem to have a lot of knowledge and is in some ways mainstream. OTOH, he was employed by the CIA, a group continually planning for Armageddon. I suppose someone needs to have their eye on our worst case scenario.

 

[Fermion]

I don't think anybody has the "serious credentials" to make such a claim.

He correctly predicted 8 out of the last 2 recessions!

 

[timo2]

Somebody once said something like "alarmists are always right. The problem is finding which alarmist it is".

 

[spncity]

Hah! I bought gold ammunition. Top that.

This made me guffaw. I've been wanting to use that word. Thanks!

 

[HawkeyeNFO]

OTOH, he was employed by the CIA, a group continually planning for Armageddon. I suppose someone needs to have their eye on our worst case scenario.

Typing from the Pentagon right now, and I can assure you we got it covered. Well, mostly. Sometimes.

 

[REWahoo]

Typing from the Pentagon right now, and I can assure you we got it covered. Well, mostly. Sometimes.

You forgot "maybe".

 

[tuixiu]

The great Harry Dent anyone?

To me Harry Dent is always The King... he has actually managed to be ridiculously wrong in both directions in the just over a decade.

Harry Dent - Wikipedia, the free encyclopedia

In 2000, based on his forecast that economic growth would continue throughout the 2000s, Dent predicted that the DOW would reach 40,000, a prediction which was repeated in his 2004 book.

His 2011 book goes on to suggest consumer spending will begin to plummet in 2012 with the Dow bottoming out somewhere between 3,000 and 5,600 in 2014

 

[urn2bfree]

To me Harry Dent is always The King... he has actually managed to be ridiculously wrong in both directions in the just over a decade.

Harry Dent - Wikipedia, the free encyclopedia

Harry Dent may be wildly off on his targets, but the since 1994 the Harry Dent Portfolio has performed as one of the better portfolios for supporting the classic 4% withdrawal:

http://www.retireearlyhomepage.com/reallife14.html


Sent from my iPad using Early Retirement Forum

 

[Bryan Barnfellow]

Best course of action: invest in aluminum foil producers.

-BB

 

[KiraC]

The only certainty in the markets is uncertainty about the future.

 

[Lisa99]

He will be right someday... But who the heck knows when!