Trump: The United States could soon become a large-scale Spain or Greece

[freespirit]

http://www.moneynews.com/Archives/Trump-Aftershock-American-Economy/2012/11/06/id/462985

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
Urgent: Should Obamacare Be Repealed? Vote Here Now!

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[Internet151]

“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?

[canada]

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

[freespirit]

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.

[notme]

Watching it now, but I give it 97% odds of trying to sell me gold.

[Hawker]

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. 

[notme]

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.

[Hawker]

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.

[notme]

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.

[freedomno1]

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
Hard Power
But thankfully we got bitcoin 

[Inedible]

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!

[BitAddict]

In Spain we're visionares 

[cdog]

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.

[ISAWHIM]

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!)

[townf]

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/

[Pale Phoenix]

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?

[Hawker]

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.

[canada]

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

[Hawker]

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.

[canada]

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.

[Hawker]

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.

The price of gold has fallen 25% in last few years without the dollar rising so the first argument falls flat on its face.

The Dow has increased in real terms since 1930 so the second question doesn't make sense.

Depressions tend to ruin whole areas and cause migration.  Think of Oklahoma in 1930s or Spain today.  If we were in a depression, we would all know about it and markets would not be considered "healthy."

Lastly, there is no debt bubble.  

The guy may have technical analysis skills that help with forex trading but knows sod all about the business world.

[Pale Phoenix]

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.

Agreed. I'm sure its quite lucrative for him.

[dudeofthestick]

Being a Spaniard that travels a lot, I must admit things are going bad in Spain... But no so bad... Spain 2013 has nothing to do with USA 1930.

Even with almost 30% unemployment rate people keep on living... Thanks to a parallel economy not under the control of the government. B-money or "dinero negro" is how people try to survive in Spain: Euros not under the radar of ECB and Taxes Ministry.

So I guess Spain can be an experiment of how people can survive with a "different" currency and payment methods... I guess people in this forum knows a lot about new "parallel economies".

[myrkul]

The black market to the rescue.

[townf]

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.

LOL my bad, the economy is doing great. Just a few more years of hyperbolic debt growth to make the system solvent. Nice system.

[Hawker]

...snip...

LOL my bad, the economy is doing great. Just a few more years of hyperbolic debt growth to make the system solvent. Nice system.

That's capitalism for you - it may not be pretty but it chugs along.

[myrkul]

LOL my bad, the economy is doing great. Just a few more years of hyperbolic debt growth to make the system solvent. Nice system.

That's capitalism for you - it may not be pretty but it chugs along.

Calling the US system "Capitalism" is like calling this a "live birth":

[townf]

LOL my bad, the economy is doing great. Just a few more years of hyperbolic debt growth to make the system solvent. Nice system.

That's capitalism for you - it may not be pretty but it chugs along.

Calling the US system "Capitalism" is like calling this a "live birth":

http://www.journalwatchdog.com/photos/images/articles/995/0211frankenstein5greg.jpg

LMAO

[Hawker]

LOL my bad, the economy is doing great. Just a few more years of hyperbolic debt growth to make the system solvent. Nice system.

That's capitalism for you - it may not be pretty but it chugs along.

Calling the US system "Capitalism" is like calling this a "live birth":

The same film can be made for most any activity.  Our system is capitalist - if you don't like it, then capitalism isn't for you.  Saying that there is some kind of angelic capitalism out there which no-one has ever tried is escapism.

[myrkul]

The same film can be made for most any activity.  Our system is capitalist - if you don't like it, then capitalism isn't for you.  Saying that there is some kind of angelic capitalism out there which no-one has ever tried is escapism.

No, this is no longer capitalism. Capitalism requires a free market. The market is anything but free.

[notme]

The same film can be made for most any activity.  Our system is capitalist - if you don't like it, then capitalism isn't for you.  Saying that there is some kind of angelic capitalism out there which no-one has ever tried is escapism.

No, this is no longer capitalism. Capitalism requires a free market. The market is anything but free.

Right.  The United States started of Capitalistic, but now the legal system entrenches large corporations and prevents small business from providing competition.

[Hawker]

The same film can be made for most any activity.  Our system is capitalist - if you don't like it, then capitalism isn't for you.  Saying that there is some kind of angelic capitalism out there which no-one has ever tried is escapism.

No, this is no longer capitalism. Capitalism requires a free market. The market is anything but free.

Right.  The United States started of Capitalistic, but now the legal system entrenches large corporations and prevents small business from providing competition.

I agree - each country has problems and inconsistencies.  But that is an implementation flaw which affects any human endeavour.  The underlying idea of capitalism is still the basis of the global economy.

Why am I having to even defend this on a libertarian forum?  

[agentbluescreen]

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.

Give this person a fine Cuban cigar wrapped on the thighs of young virgins!

When one adopts all of the identical and self-same, secret and corrupt tools of a corrupted and established-fascist tyranny under the guise of "fighting it" one has already lost the war before it's first battle. After Truman's surrender to Churchill at Potsdam, then Senator LBJ with his re-introduced NDA (DRO '48) capitulated America to London, plunged America into Trotskyite Pentagon-communist tyranny and guaranteed the West's certain, eventual Cold War defeat.

All "government" is "socialism" the two words mean the same thing. The bigger one is, the bigger is the other. The former economy of the former "USA" (once-Republic of Liberty) will not die like that of it's Spanish or Grecian client states, because it has become subsumed to a far greater global imperial-fascist (Tory-Menshevik City of London) bankstering tyranny.

Nobody "won" the Cold War, the East simply acknowledged the insanely demented fanatical futility of it all, first.

The (Tory-Trotskyite) Union of ZioNazi Socialist Republics (UZSR) is now doomed to collapse exactly like it's imperial-fascist twin, the former USSR did. The same way the Tory-Fascist "empires" of England, Rome and Egypt did, when a corrupt elite high-preisthood of a single, totalitarian, established, soullessly-bestial corporate-socialist religionism pervert it's power, sap the strength of all it's people and destroy competitivity in their envious, greedy and violent pursuit of some pie-in-the-sky theocratic dogmatism, based upon "special rights" that they foolishly believe that they alone are "worthy" of .

Communism is simply the modern term for "permanent war". It matters not whether a Tory Caesaropapist-fascist Menshevik pledges his idolatry to a tribal mafia warlord, a Pope, a Mohammed, an ex-prince named thut-Moses, a Marx, a Bolshevik named Lenin, a tin-pot N Korean fascist or the Chairman of a private boardroom-socialist Federal Reserve Printing Company.

 There can be no such thing as a "faith" without the FREEDOM to choose, or not to choose one!

This "Final Battle" is not about the nature of the "money" that represents all of the good fruits of all of our constructive human labours, it's about just who "owns" it, and by extension, them.

It's about the corrupt crimes, frauds, debts and hatreds that represent the vile, all destructive perversion and all repulsive enslavement of us all by those all-divisive fanatics who claim to own us, through their instrumentations of it.


(A congress shall attempt to make no "law" establishing any brand of any sort of a single or combined flavour of totalitarian religious-monopolism)

[myrkul]

The same film can be made for most any activity.  Our system is capitalist - if you don't like it, then capitalism isn't for you.  Saying that there is some kind of angelic capitalism out there which no-one has ever tried is escapism.

No, this is no longer capitalism. Capitalism requires a free market. The market is anything but free.

Right.  The United States started of Capitalistic, but now the legal system entrenches large corporations and prevents small business from providing competition.

I agree - each country has problems and inconsistencies.  But that is an implementation flaw which affects any human endeavour.  The underlying idea of capitalism is still the basis of the global economy.

Why am I having to even defend this on a libertarian forum?  

Maybe because you're wrong?

[townf]

When one adopts all of the identical and self-same, secret and corrupt tools of a corrupted and established-fascist tyranny under the guise of "fighting it" one has already lost the war before it's first battle. After Truman's surrender to Churchill at Potsdam, then Senator LBJ with his re-introduced NDA (DRO '48) capitulated America to London, plunged America into Trotskyite Pentagon-communist tyranny and guaranteed the West's certain, eventual Cold War defeat.

All "government" is "socialism" the two words mean the same thing. The bigger one is, the bigger is the other. The former economy of the former "USA" (once-Republic of Liberty) will not die like that of it's Spanish or Grecian client states, because it has become subsumed to a far greater global imperial-fascist (Tory-Menshevik City of London) bankstering tyranny.

Nobody "won" the Cold War, the East simply acknowledged the insanely demented fanatical futility of it all, first.

The (Tory-Trotskyite) Union of ZioNazi Socialist Republics (UZSR) is now doomed to collapse exactly like it's imperial-fascist twin, the former USSR did. The same way the Tory-Fascist "empires" of England, Rome and Egypt did, when a corrupt elite high-preisthood of a single, totalitarian, established, soullessly-bestial corporate-socialist religionism pervert it's power, sap the strength of all it's people and destroy competitivity in their envious, greedy and violent pursuit of some pie-in-the-sky theocratic dogmatism, based upon "special rights" that they foolishly believe that they alone are "worthy" of .

Communism is simply the modern term for "permanent war". It matters not whether a Tory Caesaropapist-fascist Menshevik pledges his idolatry to a tribal mafia warlord, a Pope, a Mohammed, an ex-prince named thut-Moses, a Marx, a Bolshevik named Lenin, a tin-pot N Korean fascist or the Chairman of a private boardroom-socialist Federal Reserve Printing Company.

 There can be no such thing as a "faith" without the FREEDOM to choose, or not to choose one!

This "Final Battle" is not about the nature of the "money" that represents all of the good fruits of all of our constructive human labours, it's about just who "owns" it, and by extension, them.

It's about the corrupt crimes, frauds, debts and hatreds that represent the vile, all destructive perversion and all repulsive enslavement of us all by those all-divisive fanatics who claim to own us, through their instrumentations of it.


(A congress shall attempt to make no "law" establishing any brand of any sort of a single or combined flavour of totalitarian religious-monopolism)

If these terms and definitions and general take on reality were adopted and used by bulk of the media and the education system, we could get somewhere in a hurry.

Unfortunately the gulf to get there from here might be just a touch too wide at this particular time, call me a glass half empty guy. People are trying though. I commend you.

[hashman]

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.

Thanks for the review Hawker  
I will skip it.

[notme]

The same film can be made for most any activity.  Our system is capitalist - if you don't like it, then capitalism isn't for you.  Saying that there is some kind of angelic capitalism out there which no-one has ever tried is escapism.

No, this is no longer capitalism. Capitalism requires a free market. The market is anything but free.

Right.  The United States started of Capitalistic, but now the legal system entrenches large corporations and prevents small business from providing competition.

I agree - each country has problems and inconsistencies.  But that is an implementation flaw which affects any human endeavour.  The underlying idea of capitalism is still the basis of the global economy.

Why am I having to even defend this on a libertarian forum?  

Maybe because you're wrong?

Right, the basis of the global economy is cronyism.  Capitalism is a nice fairy tale they use to get us to accept the status quo.