Harry Dent, author of the new book The Great Crash Ahead, says another stock market crash is coming due to a bad ending to the global debt bubble. He has pulled back on his earlier prediction of a crash in 2012, as central banks around the world have been flooding markets with money, giving stocks an artificial short-term boost. But a crash is coming in 2013 or 2014, he warns. "This will be a repeat of 2008-09, only bigger, when it finally hits," Dent told USA TODAY.
Gerald Celente, a trend forecaster at the Trends Research Institute, says Americans should brace themselves for an "economic 9/11" due to policymakers' inability to solve the world's financial and economic woes. The coming meltdown, he predicts, will lead to growing social unrest and anti-government sentiment, a U.S. dollar with far less purchasing power and more people out of work.
Celente won't rule out another financial panic that could spark enough fear to cause a run on the nation's banks by depositors. That risk could cause the government to invoke "economic martial law" and call a "bank holiday" and close banks as it did during the Great Depression.
"We see some kind of threat of that magnitude," Celente, publisher of The Trends Journal newsletter, warned in an interview.
Robert Prechter, author of Conquer the Crash, first published in 2002 and updated in 2009, is still bearish. He says today's economy has similarities to the Great Depression and warns that 1930s-style deflation is still poised to cause financial havoc. Prechter predicts that the major U.S. stock indexes, such as the Dow Jones industrials and Standard & Poor's 500, will plunge below their bear market lows hit in March 2009 during the last financial crisis. The brief recovery will fail as it did in the 1930s, he says.
3 doomsaying experts who foresee economic devastation ahead – USATODAY.com
1 comment:
You should listen to The Harbinger lectures (and read the new book) by Messianic Jew Jonathan Cahn, specifically about the return of the mandatory financial release in the Old Testament - the Shmita. The Shmita 'hit' on the last day of the Jewish month of Elul, the first stock trading day after September 11 2001, financially wiping out millions of dollars in stock value. Exactly on the last day of Elul, seven years later, in 2008, the Dow Jones dropped exactly God's number - '777' points - wiping out more millions of dollars. The shmita is all about God's 7-year cycle of mandatory financial release - freeing of debts - in the Old Testament. These just can't be coincidences!!
If these events were truly of God, then the next shmita will hit on the last day of Elul 2015, which is September 13 2015. I think this will be the global financial collapse that the analysts are talking about. I guess I'll have to pray and see how God wants me to be prepared!!
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