Scary

[vmax]

I don't know what to say.

It's 2012 and Wiedemers predictions haven't happened yet. Hopefully he's just trying to sell his book.

 

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.”

 

It’s clear that Trump holds President Barack Obama responsible for the ballooning debt. Trump stated that the way Obama is running the country is “stupid.”

 

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.

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.”

 

Read more: Trump Says The Way President Obama Is Running The Country Is "Stupid"

 

Actually this guy is predicting the end of the world.

 

And why is this interview getting pulled by online networks? Who's saying to bury this fast?

 

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?

 

Read more: Trump Says The Way President Obama Is Running The Country Is "Stupid"

[papasmurfbell]

Trump has no value. He has gone bancrupt.

 

Firstly this country has maintained debt for its entire 236 yr history. During WW2 the deficit was 102% of GDP.

 

I just finishe White House Burning. A couple of economists went over the debt during the 236 yr. Spending is actually down compared to GDP. Part of the problem is when we went into recession it lowers tax revenues. Obama is doing some dumb crap but Trump is useless. He wouldn't know how to fix the economy on his best day.

 

[vmax]

That makes me feel better papa.

This guy Wiedemer was not the only one to see it comming back in 2006....he's no proffet...many experts were predicting a "Day of Recconing" back then.

 

I'm still wondering what powers put the squeeze on his broadcasts. Even if he's one huge alarmist or totally wrong, this is news. Censorship is not what this country should be about.

[papasmurfbell]

Sure there were several people who saw it coming. The deregulation over the last 30 or so yrs put us in a position to have the bankers screw us.

 

The problem is the corpratization of the media makes it so profit is driven over reporting. So then they need access. To have access they have to kiss the politicians asses. So we don't get real reporting.

[RavenMad]

The whole banking culture is the problem and it's still as bad as it's ever been. These guys take huge risks so that they can earn huge bonuses for making a profit. If it backfires no one gets held accountable and they move on to the next opportunity. Do they pay their bonus back if they make a loss......Of Course Fucking Not! And in some cases I have read about guys get bonuses even when they fail. A bonus for being shit! I wish I could get one of those.

[papasmurfbell]

http://www.rollingstone.com/culture/news/the-sharp-sudden-decline-of-americas-middle-class-20120622

 

Read about these people. The banks run it into the ground and are saved. They are able to stand on the backs of people like these.

[RavenMad]

I also read something of interest a while back but have no link. If all the governments that bailed out the banks had instead provided the money to the people struggling to pay their mortgage, there would have been no banking collapse and the economy wouldn't have tanked as credit would have still been available to small businesses and startups.

 

We might not have learned from it, but we wouldn't be going through the pain we are now. I don't and haven't struggled to pay my mortgage but if I lose my job I'm f***ed and the banks won't care despite the fact I own a share in them through the bail outs. The prospect of getting another job in todays employment market doesn't look great.

 

Thanks w**kers, I mean bankers for the little extra stress you have provided every worker in the world.

[cravnravn]

Dam shame you cant have gov't have a say in big business, there is no more middle class...And the banks will get bailed out, again..Govt needs to let them collapse, then maybe the CEO's will sit back and brainstorm, "what caused the failure"

 

 

Do you know I seen a commercial on TV down here for a fly by night "Indian Ran Bank" 10,000 immediately in your acct, no credit check, 84 payments of 876.00, which equates 87% interest....Now desperate people will do desperate things, and you know someone is out there with their phone in hand, ready to call that number.

 

The other issue is baloon loans, something I feel was the entire cause of the housing collapse, I seen it first hand, I seen police man & women buy $700,000 homes, I do listen to the news, I do know they are the most under paid profession in life, you put 2 n 2 together and hear of these baloon loans that were popular in the 90's and wala when the note comes due after 5 years you have your instant housing collapse.

[papasmurfbell]

Yeah had the govt bailed out the people things would have been better. The banks have sat on the cash. They have gotten $8.4 trillion at about 0% interest. Their profits are something like .5% on that borrowed money. Those 30billion profits are crap compared to what they borrowed.

[cravnravn]

Yeah had the govt bailed out the people things would have been better. The banks have sat on the cash. They have gotten $8.4 trillion at about 0% interest. Their profits are something like .5% on that borrowed money. Those 30billion profits are crap compared to what they borrowed.

 

Yup, that 7 billion Govt used to bail out the banks & the Big 3, they could have let those big businesses fall flat on their asses, and could of given each American household 25,000..You dont think we would have stimulated the economy with 25g's?? But know, screw the little guy, let corporate america off the hool to throw their lavish party's because they are back on their feet again..

 

Heres another thing that pisses me off, I own a 2005 Chevy Equinox, my sister owns a 2009 Chevy Equinox...Mine is pre bail out, hers is post bail out..We have IDENTICAL ENGINES!!!! even the body style is the same..I get 15 mpg, she gets 26-28 mpg..Why? A FUCKING COMPUTER CHIP!!!!!!!!!!! GM wants to charge me 8000.00 for the chip....

[papasmurfbell]

Don't forget the 7.7 trillion that the fed tried to secretly give them.

[cravnravn]

Now you ruining my day Papa,

[papasmurfbell]

You didn't hear about that brinks truck?

[dc.]

Let's be very clear about the debt under Obama just briefly...

 

The debt has certainly inflated under his watch, but little of it has to do with his spending or "socialist" (worst word ever in American politics) policies. First, government revenue fell dramatically in the last 4 years because of... the recession. Fewer people making money, fewer people paying taxes, fewer taxes from people who are paying them. Add to that the bailouts and 'stimulus packages' and you've got several trillion in debt right there. Don't forget to add the extension of benefits - more people qualifying for medicare, medicaid, unemployment, extension of unemployment, etc... it's a lot of money.

 

Watch the employment numbers each month... the economy has been adding jobs (slowly), but look closer. Guess who's not adding jobs? The state and federal government. In fact, they are cutting significantly and have been for more than a year.

 

And Papa is right - Trump is a dolt. He has 0 credibility. Even his understanding of debt and 'international' debt is wrong. Meanwhile, the credit downgrade wouldn't have happened if a certain fringe group hadn't thrown a 'no new taxes' policy into the debt limit talks a year ago. Taxes, both personal and corporate, are among the lowest they have ever been at the national level. Deductions and loopholes are practically at all time highs, but we can't even close those without the change being called a "new tax."

 

And don't get me started on the war on 'regulation.' Lack of regulation, the deregulation of banking and investing started 10-15 years ago is what led us into this mess. But now any rule, regulation or law that governs the actions of corporate activity (especially risky, jeopardizing and greedy corporate activity) is just as evil as a tax. There was a reason this country had a law in place for more than 50 years that said a bank and an investment firm had to be separate, financially independent institutions. That law was repealed a decade ago ... and now those who want to reinstate it are socialists?

[papasmurfbell]

http://finance.yahoo.com/news/explainer-libor-under-microscope-121900005.html

 

Here is another bank screwing us. The banks commit fraud constantly but have yet to be criminally charged. Put the criminals who reside in the banks and huge corporations in prison.

 

http://blogs.citypaper.com/index.php/2012/04/feds-sue-to-keep-south-mountain-creamerys-structured-cash-deposits/

 

No the feds would rather kill a local small business on BS.

[cravnravn]

There ya go dc. Fla just came out with there unemplyment rate 8.2%

 

Ive been on 3 govt job interviews. The govt only wants to hire latinos/mexicans. Its comical down here. I walk in and say forget it

[cravnravn]

Please dont get me started with the bennys extension. That burns my gall right there

[BengalBilly]

 

Yup, that 7 billion Govt used to bail out the banks & the Big 3, they could have let those big businesses fall flat on their asses,

Hold on crav. The government bailed out GM and Chrysler. Ford accepted NO bail out money. Don't worry about the mistake though, our esteemed president Obama wasn't aware of the facts either.

 

http://www.therightscoop.com/earth-to-abc-news-fact-checkers-ford-did-not-accept-bailout-money/

[dc.]

Being totally fair, Billy... Obama did not say that Ford took money. It's a poorly phrased, poorly written, poorly explained paragraph... and it seems to imply that Ford took money. But technically he says three things: 1. the auto industry was hurting; 2. he provided a bail out; 3. the auto industry (including Ford) is now better. But he doesn't expressly say, Ford took money.

 

ABC - however - did make the stupid mistake.

[cravnravn]

You really think the auto industry is better? a 2012 Chevy Volt for 43,000..Its a fucking CHEVETTE, so when something goes up with the charging system, folks would wish they were paying 3.14 a gallon for gas.

 

So now the homeless folks that lost their homes can pay 700 a month for a car payment..So how long you think before GM needs another presidential bail out?

Edited July 7, 2012 by cravnravn

[cravnravn]

Hold on crav. The government bailed out GM and Chrysler. Ford accepted NO bail out money. Don't worry about the mistake though, our esteemed president Obama wasn't aware of the facts either.

 

http://www.therightscoop.com/earth-to-abc-news-fact-checkers-ford-did-not-accept-bailout-money/

 

I stand corrected, The Big Two...

[BengalBilly]

Being totally fair, Billy... Obama did not say that Ford took money. It's a poorly phrased, poorly written, poorly explained paragraph... and it seems to imply that Ford took money. But technically he says three things: 1. the auto industry was hurting; 2. he provided a bail out; 3. the auto industry (including Ford) is now better. But he doesn't expressly say, Ford took money.

 

ABC - however - did make the stupid mistake.

Well that may be, but Ford should be held in much higher esteem than GM or Chrysler. In fact they should be congratulated for not being a burden on the American people. Lord knows we have enough already.

[BengalBilly]

You really think the auto industry is better? a 2012 Chevy Volt for 43,000..Its a fucking CHEVETTE,

Awww, don't be so harsh on Chevettes. Sure they were ugly pieces of crap, but the one I had ran for years. I did have to dump a quart of oil in it a week, but other than that it was cheap to own.

[papasmurfbell]

Well that may be, but Ford should be held in much higher esteem than GM or Chrysler. In fact they should be congratulated for not being a burden on the American people. Lord knows we have enough already.

 

(this is for Billy)In 2009 a guy Scotty Donahue here in bmore who sold cars forever especially fords was on the Radio one morning. He said that Ford went through the downturn a yr earlier but spotted it before it could wipe them out and mitigated it.

[cravnravn]

Good old Donahue Too bad Belair Rd will never be the same