Commentary from WorldNetDaily
By Vox Day
Posted: December 28, 2009 ~ 1:00 am Eastern
© 2009
While the Great Depression is considered to have begun with the great stock market crash of 1929, the first mention of the words "great depression" was in a speech given by Herbert Hoover in late 1931. The first specific and titular reference did not occur until 1934, when British economist Lionel Robbins published a book titled "The Great Depression." This would neither be the first nor the last time economists influenced by the Austrian School would be the first to identify a major economic downturn in the making or to point out that the policies of the fiscal and monetary authorities were guaranteed to exacerbate it.What then, are the prospects of enduring recovery? It is clear that they are not bright. It is quite probable, if there is no immediate outbreak of war on a large scale, that the next few months may see a substantial revival of business. If the exchanges are stabilised and the competition in depreciation ceases, there is a strong probability that the upward movement, which began in the summer of 1932, will continue. If the stabilisation were made permanent and some progress were made with the removal of the grosser obstacles to trade, it is not out of the question that a boom would develop. There are many things which might upset this development. The basis of recovery in the United States is gravely jeopardised by the policy of the Government.
~ Lionel Robbins, "The Great Depression," Page 195
At the end of 2009, conventional economists are claiming that the economic contraction which began in 2008 is over. Most government published statistics show growth and the stock markets have recovered half of their previous losses. While some of the wiser economists are hedging their bets by stating that they expect growth to be "sluggish" with "downside risks," there are no more expectations of market crashes, financial collapse or widespread economic contraction than there were at the beginning of 2008. The question is not one of growth versus contraction, but rather how much the economy will grow. However, the conventional economists are just as wrong to think the contraction is over as they were to believe that it was not on the horizon before.
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From WorldNetDailyTrends on anniversary of 1929 collapse indicate markets on verge of 'crash'
Posted: October 29, 2009 ~ 1:00 am Eastern
© 2009 WorldNetDaily
On this 80th anniversary of the "Black Tuesday" stock market collapse, some analysts are experiencing déjà vu, warning a major crash in the stock market is imminent.
Graham Summers, senior market strategist at OmniSans Research, wrote in the firm's daily e-letter yesterday that the markets may finally be on the verge of the crash he has been predicting for more than two months.
"Well, judging from the market's action today, I believe we may be within 48 hours of getting the "Official Sell" signal I've been waiting for," he wrote in "Gain, Pains, and Capital."
The Dow Jones Industrial Average lost 119 points yesterday, or 1.2 percent, while the NASDAQ lost 2.7 percent. The Russell 2000 index of smaller companies dropped 3.5 percent.
Summers explained in an online piece Tuesday that he has been watching an ominous pattern develop in which the trading range shrinks as stocks rise higher. In the past, that pattern has led to a sharp downturn, he said.
"I've been forewarning of a potential crash for months now. And the market's current action is precisely what you would expect for a major top (increased volatility)," Summers wrote.
Author and WND columnist Vox Day, asserts in book released last week, "The Return of the Great Depression," that the U.S. is entering the early stages of the Second Great Depression. [CLICK HERE TO READ MORE]
From WorldNetDailyAuthor who predicted current crisis shows why it's 'only the beginning'
Posted: October 25, 2009 ~ 8:30 pm Eastern
© 2009 WorldNetDaily
Drawing striking comparisons between the Japanese economy in 1988 and the American economy today, a new book by an author who predicted the current crisis warns it's going to get much worse before it gets better.
Vox Day, a WND columnist, asserts in "The Return of the Great Depression," by WND Books, the U.S. is only now entering the early stages of the Second Great Depression.
Day presents a fact-rich case, rooted in economic history
and time-tested theory, in which he concludes that an economic contraction of very large proportions is presently developing.
But he contends that "due to a reactive wave of positive social mood, statistical obfuscation, and understandable denial, it will take about a year for the consensus opinion to cycle through the various scenarios in descending order of optimism before the grim reality finally becomes apparent to even the casual observer."
Though the message is stark, Day believes the book is a much-needed antidote to the self-interested optimism of the financial media. [CLICK HERE TO READ MORE]
by Terry Easton
06/05/2009
It’s the end of the world as the Greater Depression hits after 2010’s failed “W-recovery”
Human Events had the opportunity to interview forecaster extraordinaire Gerald Celente, President of Trends Research Institute, several days ago -- and the future he predicts looks bleak indeed. In fact, as Mr. Celente sees it, the Great Depression will seem like a mild recession as what waits for us in 2011 hits with the force of a Katrina financial hurricane.
In case you’re wondering who Mr. Celente is (if this is still possible), he’s appeared -- along with his predictions -- on Oprah, CNBC, Reuters, NBC, PBS, BBC, the Glenn Beck Show -- the list goes on an on. His Trends Report has been successfully predicting the major future trends impacting our lives for 3 decades, including calling the dot com crash back in the 1990's.
Mr. Celente's forecast on our impending future is based on his study of history. He says we are bent on destroying our currency, bankrupting our government, and unleashing a violent citizen-against-citizen eruption as the economy collapses into chaos and marshal law fascism.
Quite a claim. And God help us if he is right -- again.
“We’re sounding the alarm about the ongoing downward economic cycle”, Gerald told Human Events. “In 2002, we predicted that the collapse of the American empire would fall like the World Trade Center in a thunderous crash -- in slow motion before our eyes. And now it’s happening.”
Mr. Celente follows over 300 trends: family, crime, war, education, consumer & business patterns which TRI synthesizes to predict the future. [Continue reading]
As Uhbama and Congress take an inherited recession and turn it into a depression, a parallel meltdown is occurring in matters of foreign policy. The core of Obama's foreign policy can be expressed simply as "Embrace enemies, slap friends." While Obama embraced Hamas, Russia, Cuba, Iran and the Taliban, he slapped Israel and Great Britain. [Read this story!]
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