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Author Topic: Trump: The United States could soon become a large-scale Spain or Greece  (Read 3513 times)
freespirit
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May 15, 2013, 05:30:38 AM
 #1

http://www.moneynews.com/Archives/Trump-Aftershock-American-Economy/2012/11/06/id/462985
Quote
Billionaire Tells Americans to Prepare For 'Financial Ruin'
Tuesday, 06 Nov 2012 12:14 PM
By Newsmax Wires

The United States could soon become a large-scale Spain or Greece, teetering on the edge of financial ruin.

That’s according to Donald Trump, who painted a very ugly picture of where this country is headed. Trump made the comments during a recent appearance on Fox News’ “On the Record with Greta Van Susteren.”

According to Trump, the United States is no longer a rich country. “When you’re not rich, you have to go out and borrow money. We’re borrowing from the Chinese and others. We’re up to $16 trillion in debt.”

He goes on to point out that the downgrade of U.S. debt is inevitable.

“We are going up to $16 trillion [in debt] very soon, and it’s going to be a lot higher than that before he gets finished. When you have [debt] in the $21-$22 trillion, you are talking about a downgrade no matter how you cut it.”

Ballooning debt and a credit downgrade aren’t Trump’s only worries for this country. He says that the official unemployment rate of 8.2 percent “isn’t a real number” and that the real figure is closer to 15 percent to 16 percent. He even mentioned that some believe the unemployment rate to be as high as 21 percent.

“Right now, frankly, the country isn’t doing well,” Trump added, “Recession may be a nice word.”

While 15 percent to 16 percent unemployment, a looming credit downgrade, and ballooning debt are a bleak outlook for the United States, they are hardly as alarming as the scenario laid out by another economist.

Without earning celebrity status or having his own television show, Robert Wiedemer did something else that grabbed headlines across the country: He accurately predicted the economic collapse that almost sank the United States.

In 2006, Wiedemer and a team of economists foresaw the coming collapse of the U.S. housing market, equity markets, private debt, and consumer spending, and published their findings in the book America’s Bubble Economy.

Editor’s Note: See the disturbing interview with Wiedemer.

But Wiedemer’s outlook for the U.S. economy today makes Trump’s observations seem almost optimistic.

Where Trump sees ballooning debt and a credit downgrade, Wiedemer sees much more widespread economic destruction.

In a recent interview for his newest book Aftershock, Wiedemer says, “The data is clear, 50% unemployment, a 90% stock market drop, and 100% annual inflation . . . starting in 2012.”

When the host questioned such wild claims, Wiedemer unapologetically displayed shocking charts backing up his allegations, and then ended his argument with, “You see, the medicine will become the poison.”

The interview has become a wake-up call for those unprepared (or unwilling) to acknowledge an ugly truth: The country’s financial “rescue” devised in Washington has failed miserably.

Shocking Footage: See the eerie chart that exposes the ‘unthinkable.’

The blame lies squarely on those whose job it was to avoid the exact situation we find ourselves in, including current Federal Reserve Chairman Ben Bernanke and former Chairman Alan Greenspan, tasked with preventing financial meltdowns and keeping the nation’s economy strong through monetary and credit policies.

At one point, Wiedemer even calls out Bernanke, saying that his “money from heaven will be the path to hell.”

But it’s not just the grim predictions that are causing the sensation; rather, it’s the comprehensive blueprint for economic survival that’s really commanding global attention.

The interview offers realistic, step-by-step solutions that the average hard-working American can easily follow.

The overwhelming amount of feedback to publicize the interview, initially screened for a private audience, came with consequences as various online networks repeatedly shut it down and affiliates refused to house the content.

Bernanke and Greenspan were not about to support Wiedemer publicly, nor were the mainstream media.

“People were sitting up and taking notice, and they begged us to make the interview public so they could easily share it,” said Newsmax Financial Publisher Aaron DeHoog, “but unfortunately, it kept getting pulled.”

“Our real concern,” DeHoog added, “is what if only half of Wiedemer’s predictions come true?

“That’s a scary thought for sure. But we want the average American to be prepared, and that is why we will continue to push this video to as many outlets as we can. We want the word to spread.”


Read Latest Breaking News from Newsmax.com http://www.moneynews.com/Archives/Trump-Aftershock-American-Economy/2012/11/06/id/462985#ixzz2TKv8KYT5
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May 15, 2013, 05:51:57 AM
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“That’s a scary thought for sure. But we want the average American to be prepared, and that is why we will continue to push this video to as many outlets as we can. We want the word to spread.”

What is this video being mentioned? Where can I find it and watch it?
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May 15, 2013, 06:08:52 AM
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Buffett, Paulson, and Soros are dumping millions of American company stocks, and very quickly. Perhaps rats off a sinking ship is an appropriate analogy...

http://www.moneynews.com/MKTNews/billionaires-dump-economist-stock/2012/08/29/id/450265
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May 15, 2013, 06:27:56 AM
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What is this video being mentioned? Where can I find it and watch it?
If you click the link above it is at the bottom of the article.
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May 15, 2013, 06:42:53 AM
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Watching it now, but I give it 97% odds of trying to sell me gold.

https://www.bitcoin.org/bitcoin.pdf
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May 15, 2013, 07:08:11 AM
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Odd isn't it?  He compares the US to countries that don't have their own currencies so we don't need to waste time on the video.  However I love the quote  “The data is clear, 50% unemployment, a 90% stock market drop, and 100% annual inflation . . . starting in 2012.”

In the real world of 2012, unemployment was falling, stock market was booming and inflation was very low. 

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May 15, 2013, 07:20:56 AM
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Odd isn't it?  He compares the US to countries that don't have their own currencies so we don't need to waste time on the video.  However I love the quote  “The data is clear, 50% unemployment, a 90% stock market drop, and 100% annual inflation . . . starting in 2012.”

In the real world of 2012, unemployment was falling, stock market was booming and inflation was very low. 

CPI was low, but I noticed a significant (10-30%, depending on which items) increase in food prices.  Wages are still stagnant though, so even low inflation hurts.

https://www.bitcoin.org/bitcoin.pdf
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May 15, 2013, 07:27:37 AM
 #8

Odd isn't it?  He compares the US to countries that don't have their own currencies so we don't need to waste time on the video.  However I love the quote  “The data is clear, 50% unemployment, a 90% stock market drop, and 100% annual inflation . . . starting in 2012.”

In the real world of 2012, unemployment was falling, stock market was booming and inflation was very low. 

CPI was low, but I noticed a significant (10-30%, depending on which items) increase in food prices.  Wages are still stagnant though, so even low inflation hurts.

All true.  Its a bad time to be poor.

.
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GOAL BONANZA
.
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...FOOTBALL BETTING REVOLUTION...
▄▄▄  WHITEPΛPER  ▄  FΛCEBOOK  ▄  TELEGRΛM  ▄  SLACK  ▄  TWITTER  ▄▄▄
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May 15, 2013, 07:28:14 AM
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Odd isn't it?  He compares the US to countries that don't have their own currencies so we don't need to waste time on the video.  However I love the quote  “The data is clear, 50% unemployment, a 90% stock market drop, and 100% annual inflation . . . starting in 2012.”

In the real world of 2012, unemployment was falling, stock market was booming and inflation was very low. 

CPI was low, but I noticed a significant (10-30%, depending on which items) increase in food prices.  Wages are still stagnant though, so even low inflation hurts.

All true.  Its a bad time to be poor.

Indeed.  Thankfully, we have bitcoin.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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May 15, 2013, 07:29:47 AM
 #10

Well as my dad says
Even if the American's are bankrupt they still have the weapons to make you keep using their money lols
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May 15, 2013, 07:39:58 AM
 #11

Quote
When the host questioned such wild claims, Wiedemer unapologetically displayed shocking charts backing up his allegations, and then ended his argument with, “You see, the medicine will become the poison.”

Wait, he has a chart?

Quick, man the life boats!

If this post was useful, interesting or entertaining, then you've misunderstood. 1N6rmaDiPf8ke3mx8217NykAMDZXkX713x
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May 15, 2013, 08:00:10 AM
 #12

In Spain we're visionares  Grin
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May 15, 2013, 09:55:00 AM
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That story has been pushed for months by Newsmax, which is basically a conservative propaganda machine. Its not journalism, its an agenda being masqueraded as journalism.

Really, Im down on the US Dollar, the Fed, Treasury, etc, but the USD is FAR better off than almost every other currency. The problem with our economy comes down to jobs and the fact that most of the money being made is going to fewer and fewer people.  Minimum wage (~$8/hour) isnt a working wage, it isnt sustainable. Its one step above slave labor and indentured servitude.

http://en.wikipedia.org/wiki/Wealth_inequality_in_the_United_States

At a certain point, The People will revolt. Thats the real threat. Bitcoin is part of this threat.

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May 15, 2013, 02:07:15 PM
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Why do I care if a "note" is becoming "useless" or devalued? That has no impact on me, because I don't use "notes" issued by the government for anything long-term. Make it, spend it, problems solved. Doesn't matter if it is worth $100 pre note or $1 or $0.01 per note. I get paid x-notes for x-work and use it to buy x-value of food/stuff. Why would anyone "hold" a note that is guaranteed to loose value the longer you hold it?

That is why people have assets. If the "note" looses value, your assets can be sold for more notes, if you need them. (Makes your assets look more valuable than they actually are.)

The problem is, as with any other place... Theft, lack of real control, importing more than you export, and allowing foreign agents to provide fraudulent lending and NOT being able to go after them in another country.

The reason we have to "borrow" from china, is because we pay them USD for the crap we buy/import from them. They don't want USD, they want Yuan. We don't have Yuan, because the Chinese are not buying things from us. Thus, we HAVE to borrow from them, our un-cashed money. Why would they buy anything from us, they already make it there! They made all our crap.

When will we start to reverse the debit, when we start charging for importing to the USA, and PAY people who EXPORT, as a reward for "clearing debit". Oh, and stopping foreign banks (who hold useless foreign currencies), from "lending" to people in our country. (Unless they lend us foreign currency, that would make sense!)
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May 15, 2013, 02:44:13 PM
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Odd isn't it?  He compares the US to countries that don't have their own currencies so we don't need to waste time on the video.  However I love the quote  “The data is clear, 50% unemployment, a 90% stock market drop, and 100% annual inflation . . . starting in 2012.”

In the real world of 2012, unemployment was falling, stock market was booming and inflation was very low. 

CPI was low, but I noticed a significant (10-30%, depending on which items) increase in food prices.  Wages are still stagnant though, so even low inflation hurts.

All true.  Its a bad time to be poor.

The official CPI and unemployment numbers are totally rigged, meant to mislead.

http://www.shadowstats.com/
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May 15, 2013, 04:37:04 PM
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The official CPI and unemployment numbers are totally rigged, meant to mislead.
http://www.shadowstats.com/

What makes the analysis of a guy selling a $175 a year newsletter more credible than any other source of economic statistics?

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May 15, 2013, 04:45:02 PM
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The official CPI and unemployment numbers are totally rigged, meant to mislead.
http://www.shadowstats.com/

What makes the analysis of a guy selling a $175 a year newsletter more credible than any other source of economic statistics?

A lot of people hate that inflation is low and that there is no debt crisis.  In fact, a lot of people hate that the state/financial system is in such robust health and will scratch around anywhere to find evidence that the whole shebang is about to collapse.  shadowstats is merely meeting an unmet market need.

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GOAL BONANZA
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May 15, 2013, 05:02:09 PM
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it would be great if someone on this board of the economics persuasion could validate / verify these numbers reported on this video. from what i've seen in the past few months, it seems to be the most balanced and backed up review of the state of the usd in relation to forex.

note: i stumbled upon this site when i was researching possible forex/trading courses as it's piqued my interest after learning so much about bitcoin

turn volume down .. the first 2 secs practically blew my head off

http://www.youtube.com/watch?feature=player_embedded&v=UEoEm5NCiLw
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May 15, 2013, 05:06:05 PM
 #19

I watched first 3 minutes.  His credibility falls away when he says "Is america in a depression but nobody is talking about it?"  If America were in a depression, you would be swamped with talk about it. 

If you think there is something worthwhile later on, rustle up a transcript - I don't mind fact checking.

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GOAL BONANZA
.
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...FOOTBALL BETTING REVOLUTION...
▄▄▄  WHITEPΛPER  ▄  FΛCEBOOK  ▄  TELEGRΛM  ▄  SLACK  ▄  TWITTER  ▄▄▄
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May 15, 2013, 05:40:15 PM
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I watched first 3 minutes.  His credibility falls away when he says "Is america in a depression but nobody is talking about it?"  If America were in a depression, you would be swamped with talk about it. 

If you think there is something worthwhile later on, rustle up a transcript - I don't mind fact checking.

hmm, no transcript but i'll paraphrase - how bout that?

starting at 14:20 he goes into the price of gold for the past 10 years. but it's rise isn't because all of a sudden gold is more valuable, but rather the dollar has decreased (40%).. then goes into quantitave easing, how that's impacted the currency when they started printing.

then ends up by looking at the dow jones if today was pitted against a gold standard, and concludes that with an 80% decrease, compared to the 86% decline of 1930, the USD could arguably be in a depression.. but nobody knows it because we think the markets are healthy.

the beginning is all about the fed and all their intervening strategies to help jumpstart the economy.. talks about the debt bubble.

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