Gerald Celente, founder and director of the Trends Research Institute opines, "To be using 1930s models to get the U.S. out of this is really stupid. Back then when we first crashed, most people didn't have homes. There was no such thing as home equity loan. And back then, people didn't have credit cards. The consumer wasn't 14 trillion dollars in debt. We had a manufacturing base that built the world out of the Great Depression following World War Two. We no longer have that."
He doesn't mention that we Americans also had the big advantage of having a just-expanded economic infrastructure that was completely undamaged, almost pristine, whereas everybody else had only ashes and destruction, which is such a big financial advantage that I keep stressing to my own executive board the wisdom of burning our competitors to the ground, leaving us unscathed with an entire market to ourselves, but, as usual, I am ignored and called names like "homicidal maniac" which is not very flattering and I think is hurting my career.
Mr. Celente is obviously going to side with "them" and not support tactical arson and miscellaneous felonies as part of a successful business plan, but he will allow that "there are two sets of books that the government keeps. When they measure up unemployment, they don't add in the people who are no longer looking for jobs because they have become discouraged since they cannot find employment after looking so long. And they don't include part-time workers. When you put that number into it, the number is 13.7%." Yikes!
That is a lot of unemployment! In fact, it's reminiscent of the Great Depression, which was also caused by the collapse of a bubble, namely the bubble of the Roaring '20s, which was also caused by rampant expansion of the money supply by the damnable Federal Reserve! Spookily similar, wouldn't you say?
And to have 13.7% unemployment at this early stage of collapse surely means that we're freaking doomed! Doooooommmmmmed!
And it looks like it is not going to get any better, either, as he adds, "By their deeds you shall know them!" At this, I thought, "Uh-oh! The guy found out about me and is going to expose me as the vicious gutter rat that I am!" But I was, thankfully, wrong!
As I was slinking out of the room, I heard him say that Obama and the Democrat crazies "brought in Larry Summers, Timothy Geithner. Look at the crew. Look who they are. They're strike out artists, every one of them"! To which I appended an exclamation point as an editing decision concerning punctuation, as there are now more of these incompetent blowhards in the Obama administration that just these two, and which now includes the terrifying Eric Holder and laughable Leon Panetta, which is not to even mention the monstrous Hillary Clinton! Gaahhh!
The last thing we need right now is more incompetence, and yet proven incompetence is the only thing we now have! Gaaahhhh! We're freaking doomed!
But, in an effort to calm myself, this is good news as far as gold is concerned, and this is exactly what it needs to go shooting to the moon in price, as nothing drives gold higher than incompetents and morons mindlessly demanding to expand government spending while relying on the Federal Reserve to create more money and credit to finance the spending spree!
And why are Obama and these Leftist idiots doing this? Marketwatch.com went on, "For the second time in a decade, the Fed has sounded the alarm that deflation could be lurking. While most people might suppose that falling prices would be a godsend, a little reflection shows that deflation would be devastating for any economy based on debt" which is exactly right!
I gotta tell ya that I think the word "devastating" is a good word for it, and if you go to your handy Mogambo Encyclopedia Of Economic Stuff (MEOES) and look up "Deflation, effects of, fiat currency regime, extreme fractional banking in, United States," you will actually see the word "devastating" several times, mostly in the vein of, "It was devastating to Emily when Brad abruptly said, his strong, masculine voice sending chills across her satiny skin, that he did not want to, as usual, throw themselves into a wild, passionate embrace and make love all over the house with lots of panting and moaning interspersed with various husky instructions concerning position or technique, because, now that the economy was ruined by the criminally stupid Federal Reserve (especially the insane Alan Greenspan who is responsible for it all) creating inflationary booms and bubbles in stocks, bonds, housing and size of government that have now gone bust, now Brad's damned father was laid off, too, and is now at home all the damned time and he can hear everything, making it uncomfortably and devastatingly weird for Brad, and similar grown men of 35 living with their parents, because there is no work that he can do with his limited intelligence that pays enough to allow him to survive on his own, and he cannot understand how the Fed creating so much money and credit makes prices go up and up and how people have to borrow more and more money to pay the higher and higher prices, which makes the money supply go up, which makes prices go up and up until one day, for the same Chaos Theory reason as a butterfly in the Amazon flapping its wings creates a little, tiny change in the air currents and causes it to rain three days later in Chicago, now some similarly unseen financial butterfly flapped its wings and the economy tragically went into the crapper a year or so later, and Emily was devastated at the news, her heaving bosom and naked thighs yearning for so, so much more."
And that, boys and girls, is why extreme fractional reserve banking using an abused fiat currency to irresponsibly expand the money supply is so criminally stupid.
And that is also why, boys and girls, buying gold, silver and oil is so sublimely smart when they do it! Whee! This investing stuff is easy!
