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Celente’s accurate forecasts include the 1987 stock market crash, the collapse of the Soviet Union in 1991, the 1997 Asian currency crash” and “the 2007 subprime mortgage scandal.” His forecasts since 1993 have included predictions about terrorism, economic collapses and war. More recent forecasts involve fascism in the United States, food riots and tax revolts. Celente has long predicted global anti-Americanism, a failing economy and immigration woes in the U.S.[13] In December 2007 Celente wrote, “Failing banks, busted brokerages, toppled corporate giants, bankrupt cities, states in default, foreign creditors cashing out of US securities … whatever the spark, the stage is set for panic in the streets” and “Just as the Twin Towers collapsed from the top down, so too will the U.S. economy … when the giant firms fall, theyll crush the man on the street.” He has also predicted tax revolts. In November 2008 Celente appeared on Fox Business Network and predicted economic depression, tax rebellions and food riots in the United States by 2012. Celente also predicted an “economic 9/11″ and a “panic of 2008.” In 2009 Celente predicted turmoil which he described as “Obamageddon” and he was a popular guest on conservative cable-TV shows such as Fox News Sunday and Glenn Beck’s television program. In April 2009 Celente wrote, “Wall Street controls our financial lives; the media manipulates our minds. These systems cannot be changed from within. There is no alternative. Without a revolution, these institutions will bankrupt the country, keep fighting failed wars, start new ones, and hold us in perpetual intellectual subjugation.” He appeared on the Glenn Beck show and criticized the U.S. stimulus plan of 2009, calling government controlled capitalism “fascism” and saying shopping malls in the U.S. would become “ghost malls.” Celente has said, “smaller communities, the smaller groups, the smaller states, the more self-sustaining communities, will ‘weather the crisis in style’ as big cities and hypertrophic suburbias descend into misery and conflict,” and forecasts “a downsizing of America.”
Duration : 0:8:28
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http://www.peoplestandup.ca
by Terrence MdKenna’s voice that this is from “DocZone,” a CBC.ca
The credit crunch
The global financial crisis (GFC) or global economic crisis is commonly believed to have begun in July 2007 with the credit crunch, when a loss of confidence by US investors in the value of sub-prime mortgages caused a liquidity crisis. This, in turn, resulted in the US Federal Bank injecting a large amount of capital into financial markets. By September 2008, the crisis had worsened as stock markets around the globe crashed and became highly volatile. Consumer confidence hit rock bottom as everyone tightened their belts in fear of what could lie ahead.
The sub-prime crisis and housing bubble
The housing market in the United States suffered greatly as many home owners who had taken out sub-prime loans found they were unable to meet their mortgage repayments. As the value of homes plummeted, the borrowers found themselves with negative equity. With a large number of borrowers defaulting on loans, banks were faced with a situation where the repossessed house and land was worth less on today’s market than the bank had loaned out originally. The banks had a liquidity crisis on their hands, and giving and obtaining loans became increasingly difficult as the fallout from the sub-prime lending bubble burst. This is commonly referred to as the credit crunch.
Although the housing collapse in the United States is commonly referred to as the trigger for the global financial crisis, some experts who have examined the events over the past few years, and indeed even politicians in the United States, may believe that the financial system was needed better regulation to discourage unscrupulous lending.
The global financial crisis enters a new phase
The collapse of Lehman Brothers on September 14, 2008 marked the beginning of a new phase in the global financial crisis. Governments around the world struggled to rescue giant financial institutions as the fallout from the housing and stock market collapse worsened. Many financial institutions continued to face serious liquidity issues. The Australian government announced the first of it’s stimulus packages aimed to jump-start the slowing economy.
The U.S. government proposed a $700 billion rescue plan, which subsequently failed to pass because some members of US Congress objected to the use of such a massive amount of taxpayer money being spent to bail out Wall Street investment bankers who some people may have believed could be one of the causes of the global financial crisis.
By September and October of 2008, people began investing heavily in gold, bonds and US dollar or Euro currency as it was seen as a safer alternative to the ailing housing or stock market.
In January of 2009 US President Obama proposed federal spending of around $1 trillion in an attempt to improve the state of the financial crisis. The Australian government also proposed another stimulus package, pledging to give cash handouts to tax payers, and spend more money on longer-term infrastructure projects.
Australia’s response to the global financial crisis – the first stimulus package
Australian prime minister Kevin Rudd and Treasurer Wayne Swan delivered their first budget in response to the global financial crisis, with the main objective being to fight inflation – a major problem in the local economy at the time.
The global financial crisis enters a new phase
The collapse of Lehman Brothers on September 14, 2008 marked the beginning of a new phase in the global financial crisis. Governments around the world struggled to rescue giant financial institutions as the fallout from the housing and stock market collapse worsened. Many financial institutions continued to face serious liquidity issues. The Australian government announced the first of it’s stimulus packages aimed to jump-start the slowing economy.
The U.S. government proposed a $700 billion rescue plan, which subsequently failed to pass because some members of US Congress objected to the use of such a massive amount of taxpayer money being spent to bail out Wall Street investment bankers who some people may have believed could be one of the causes of the global financial crisis.
By September and October of 2008, people began investing heavily in gold, bonds and US dollar or Euro currency as it was seen as a safer alternative to the ailing housing or stock market.
In January of 2009 US President Obama proposed federal spending of around $1 trillion in an attempt to improve the state of the financial crisis. The Australian government also proposed another stimulus package, pledging to give cash handouts to tax payers, and spend more money on longer-term infrastructure projects.
Duration : 0:44:58
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http://www.fatol.com FATOL is FATAL for FAT. Melt away body fat effortlessly.
American Subprime Mortgage and financial crisis explained in layman’s terms and documentary. Real estate bubble.
Duration : 0:5:8
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Technorati Tags: collapse, credit, crisis, economic, equity, explained, home, Line, mortgage, subprime
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http://www.youtube.com/user/joecrack1
Date: 01-25-08
Host: George Noory
Guests: Alex Jones
Broadcasting live from the studios of KLBJ in Austin, Texas, George was joined by filmmaker and activist Alex Jones, who discussed his film Endgame and the Elite’s master plan to dominate and oppress humanity.
Jones warned listeners about a ‘control-grid’ that is being put in place by the Elite to monitor and store information about the masses. The infrastructure of the system includes RFID chips, GPS-enabled cell phones, national ID cards, and DNA databases, he explained. Jones pointed out that Tivo and Google currently monitor television and internet viewing habits, and have compiled detailed psychological profiles of the people who utilize their services.
Jones commented on the subprime mortgage crisis, which he believes was engineered by the Bilderbergs. He said the group planned to “pop the subprime mortgage bubble” in order to unravel the U.S. economy and bring down global financial markets. He also spoke about the North American Union, the Elite’s plan to reduce the world’s population to 500 million, as well as the cervical cancer vaccine, Gardasil. Jones referred to a Daily Mail article about two girls who died following their Gardasil vaccination.
Duration : 2:31:37
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HardTalk & Kyle Bass 1 of 2 on The Global Economy & Finance Situation – BBC Interview, recorded 15.11.2011
Kyle Bass is a hedge fund founder who saw the financial crisis coming and made a fortune from it – first from America’s sub-prime mortgage crisis and then from betting that Greece would default.
Mr Bass told Sarah Montague that Germany cannot be expected to bail out the PIIGS countries – Portugal, Ireland, Italy, Greece and Spain, and that only a massive write-down in those countries’ debts will solve the crisis. http://news.bbc.co.uk/2/hi/programmes/hardtalk/9639507.stm .
Duration : 0:19:14
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The Securities and Exchange Commission has charged six former top executives at Fannie Mae and Freddie Mac with civil fraud, saying they misled the government and taxpayers about risky subprime mortgages the mortgage giants held during the housing bust. (
Duration : 0:1:41
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Technorati Tags: charges, Fannie, Freddie
NOTE: This video has been on Vimeo since late 2010, early 2011. Now that YouTube accepts videos longer than 15 minutes, we’re posting it here. Enjoy! We’ll update with Kyle Bass Redux after AmeriCatalyst 2011, Nov. 6-8
As Founder and Managing Partner of Hayman Advisors, LP, J. Kyle Bass has proven himself to be one of the most well respected hedge fund managers and forecasters in the global investment community. Renowned for his conviction as well as his investment savvy, Bass hit the headlines with his prescient trades in shorting the subprime mortgage market in 2007. Behind the headlines was one of the most unique and rigorous investment methodologies ever used in mortgage-related investing. Since that time, Bass has been one of the most proactive investors in Washington and abroad, warning about unsustainable fiscal deficits poised to destabilize the global economy and markets with a magnitude similar to the 1930s.
Todd Groome and Toni Moss spoke with Kyle at AmeriCatalyst 2010 in Austin in September, asking him about his thoughts on prospects for housing market recovery, current policy issues and national debt implications, global debt imbalances and his perspectives on the influence of policy on the timing, sequence and magnitude of potential sovereign defaults and debt restructurings.
Duration : 1:1:39
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Technorati Tags: AmeriCatalyst 2010, debt restructuring, global economy, Japanese sovereign default, Kyle Bass, mortgage lending, sovereign debt, sovereign default, Todd Groome, Toni Moss, U.S. housing market recovery, unsustainable fiscal deficit, yt3d:metadata=user
MARKET MELTDOWN
Duration : 0:3:13
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Technorati Tags: Cramer, Jim, market, Meltodwn
In a Brooklyn neighborhood hard hit by the foreclosure crisis, Occupy Wall Street joins local community groups to reclaim a bank-owned property for a homeless family.
Duration : 0:5:2
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President Obama often makes the claim that he inherited the country’s current economic crisis. But in truth, it was Obama and his fellow Democrats who supported, and facilitated efforts to force the banks to issue high-risk subprime mortgages to unqualified borrowers, which ultimately brought about the collapse of the U.S. economy. Hence, Mr. Obama is not the Inheritor-in-Chief that he claims to be, but rather the Bequeather-in-Chief, who helped facilitate the economic downturn.
Nevertheless, during a speech Tuesday at a High School in Osawatomie, Kansas, the President, rather than concede that he and his fellow Democrats supported efforts to force the banks to issue high-risk loans, blamed the banks for making these loans.
Audacity on the President’s part, I suppose; but clearly not the Audacity of Hope……
Duration : 0:8:34
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Technorati Tags: ACORN, address, banks, barack, economy, kansas, loans, mortgage, mortgages, obama, Osawatomie, President, speech, subprime