Analysts warn Americans to buy guns and gold, predicting market crash and street riots within a year
Gerald Celente, Harry Dent and Robert Prechter all predicting big trouble
Markets and unemployment figures posting best showings in four years
But analysts say Americans will riot when another Great Depression hits
Just when you thought unemployment was dropping and stock markets were surging back, these three analysts today sent out a stark warning to Americans to brace for another financial crash.
Trend forecaster Gerald Celente advises buying a gun to protect your
family, stocking up on gold if the dollar crashes and planning a
getaway, so it’s no shock he’s preparing for an ‘economic 9/11’.
Share
prices and unemployment are posting their best figures in four years
since the recession hit, but Mr Celente, along with authors Harry Dent
and Robert Prechter, says the rebound won’t last.
[Image]
Going down: Gerald Celente is one of three
analysts outside of Wall Street sending out stark warnings to Americans
to brace for another financial crash, just as things seem to be getting
better
All three were profiled in a USA Today
feature on Monday. Mr Dent, who had The Great Crash Ahead published
last September, believes stocks are simply experiencing an artificial
short-term boost.
Mr
Prechter, who had a new version of Conquer the Crash published in 2009,
is fearful of today’s economic similarities to the Great Depression and
says the brief recovery will fail like in the 1930s.
Gordon Gekko no more! Wall Street star Michael Douglas stars in new FBI ad against insider tradingGreen shoots in the US housing market as 2pc rise in buyers signing contracts
‘The
economic recovery has been weak, so the next downturn should generate
bad news in a big way,’ he told USA Today, saying the markets look 'very bearish' for the third time in 12 years.
Mr
Celente, who works as an analyst at the Trends Research Institute,
which he founded in Kingston, New York, has been doom-mongering for
years - so his latest concerns are hardly surprising.
[Image]
[Image]
Fear: Authors Harry Dent, left, and Robert Prechter, right, insist the current stock market rebound won’t last
[Image]
Looking for work: Job seekers attend an
employment fair in New York. Unemployment fell last month to 8.3 per
cent, a three-year low, and weekly jobless claims are at a
four-year-low. But the doom-mongers aren't happy
But
he told USA Today that a potential run on banks by savers could cause
the government to invoke a national holiday and temporarily close them
all, which happened during the Great Depression.
'When money stops flowing to the man on the street, blood starts flowing in the street'
Gerald Celente, trend forecaster
It comes as billionaire Berkshire
Hathaway chairman and CEO Warren Buffett today painted a happier picture
of stocks, which he said are relatively cheap compared to other
investments as the economy improves.
Meanwhile
contracts to buy previously owned U.S. homes neared a two-year high in
January in further evidence the housing market was slowly turning the
corner, an industry group said today.
However
oil prices have been spurred higher by worries over disruptions to
Middle East supplies due to sanctions against Iran and expectations for
greater demand from an improving U.S. economy.
[Image]
[Image]
Stronger shares: Traders work on the floor of
the New York Stock Exchange in Manhattan on Monday. The Dow Jones index
is now trading around the 13,000 mark - but not everyone is convinced it
will stay high
[Image]
Economic violence: Occupy Wall Street protesters
clashed with riot police on many occasions last autumn, including in
November after being ordered to leave their camp at Zuccotti Park in
Manhattan, New York
But on the markets, the S&P
500 has risen nearly nine per cent so far this year and the Dow Jones
is trading around the psychologically-important mark of 13,000. But the
three experts aren’t happy.
Read more: http://www.dailymail.co.uk/news/article-2107315/Market-crash-street-riots-year-Americans-plan-economic-9-11.html#ixzz1nyak8Ix6
BUFFETT'S ADVICE: 'BUY, BUY, BUY'
[Image]
Billionaire Warren Buffett said
today that U.S. stocks remain relatively cheap compared to other
potential investments as the economy continues to improve.
The chief executive of Berkshire Hathaway (pictured)
said even though stocks aren't as cheap as they were during the depths
of the recession in 2008, they're still a more attractive long-term
option than bonds, gold, cash or anything else.
'Equities
are still cheap relative to any other asset class,' he said, adding
that houses are another attractive investment at current prices.
Meanwhile
Mr Buffett reiterated his call for tax reforms and a higher tax rate
for wealthy investors like himself and said the U.S. is simply spending
too much and bringing in too little revenue.
Mr Prechter told USA Today both
markets will crash back below their lows hit at the height of the
financial crisis in March 2009. Unemployment fell last month to 8.3 per
cent, a three-year low, and weekly jobless claims are at a
four-year-low.
But Mr
Dent believes that people will be left out of work again in 2013 or 2014
and U.S. markets will crash because central banks have been pumping so
much money into markets that they are unrealistically strong.
The
economy is proving to be the major issue in this autumn’s presidential
election, with every Republican candidate berating President Barack
Obama for his handling of the recession.
Mitt
Romney said on Monday that his major rival Rick Santorum is
ill-prepared to deal with the nation's economic woes, calling his GOP
rival a nice guy who never held a job in the private sector.
But
Mr Santorum has mounted an unexpectedly strong challenge against Mr
Romney ahead of the primary in Michigan tomorrow, despite accusations
from his rival that he doesn't know how to create jobs.
Mr
Celente told USA Today that a higher unemployment rate will cause
social unrest and there will be a growing rich-poor divide. This would
no doubt help fuel movements such as Occupy Wall Street.
‘When money stops flowing to the man on the street, blood starts flowing in the street,’ he said.
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posted by M. C. Bruecke at 1:00 AM on Mar 22, 2012
"Plan for an economic 9/11"
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