Comments on: Looking Back on the Greatest Depression

By: Mike

Mike — Thu, 07 May 2009 14:53:46 +0000

I agree 95% with Celente. My only point of contention is blaming deregulation as if it were foundational. Granted, derivatives did become a huge problem, but that problem was the consequence of loads of credit in the economy. Plus, as far as I have learned about the murky issue of derivatives, fraud laws would do the trick rendering more regulation unnecessary. If derivatives are being created without enough money to back them up, then that is fraud.

By: NewTV.com

NewTV.com — Thu, 07 May 2009 10:27:27 +0000

Great work (as always) Gerald.

By: al diro

al diro — Thu, 07 May 2009 06:44:22 +0000

With this war we are in uncharted waters and California is leading the way with real time stats.

-Unprecedented number of foreclosures in California with 2008 having 530,000 homes in distress and 2009 on track to add another million. No end in sight until 2012.

-Unemployment in California running between 10%-25%, 2 million on the unemployment books plus another 2 million+ under the radar.
Of these 25% are doomed to foreclosure.

-Huge unsold new car inventory of 2008 and 2009 models just sit.

-Commercial RE crashing like a plane going down with one wing.
Every where you look another company is closing its doors.
Drive around your neighborhood retail and listen. it’s creepy quiet.

-Watch our banking experts (bankster’s) planning their future, as they take our bailout dollars and stash it while they destroy their REO inventory. Are they trying a crazy desperate move to stabilize the housing prices?

google Are Bulldozers Now The Best Neighbor? – Realty Check with Diana … – 7:23am -cnbc
May 6, 2009 … So this is what it has come to. A bank in Texas is bulldozing four brand new homes.
New homes in Victorville now under $100,000. It’s coming a complete RE price crash back to the 1970’s

A lot of bargains to be had but who is going to have the money to buy any of these great bargains?

By: Ed gonzo

Ed gonzo — Thu, 07 May 2009 03:24:18 +0000

It’s a war indeed! A war against good sense and reason! And let me break the news to you people: it’s already won, because everywhere we look there is just insanity and hogwash.

But maybe we’re just not “Patriotic” enough…

By the way, why doesnt Warren (we’re on a first name basis) start providing loans with negative interests to his fellow americans who lost their homes? It sounds pretty “patriotic” to me!

By: OSR

OSR — Thu, 07 May 2009 01:03:43 +0000

No worries, the American people really don’t want to know where their $2T went. Unless, of course, it was being awarded on American Idol.

By: Paul Turner

Paul Turner — Wed, 06 May 2009 23:52:36 +0000

Excellent article. Your comments are very perceptive and riddled with common sense. A very rare quality today.