What's Da Buzz?

In this Health & Wealth day, I will once again focus on the economy of the USA. But I do not expect anyone to believe what I say. Instead, I will introduce you to two individuals named Peter Schiff and Gerald Celente.

Who are they? They are experts in their fields. Mr. Peter Schiff is an economist and Mr. George Celente specializes in predicting trends. What makes them any better than anyone else? They have been proven correct time and time again in their predictions. They have stuck by their predictions even when others laughed at them.

First, here is Peter Schiff. He specializes in Austrian Economics and the damage of Keynesian Economics. His predictions have been highly accurate so that makes him a sound person to look to for advice. Here is a clip about his stances.

As a review, those who laughed at Peter Schiff and disagreed with him said that the Dow Jones stock market would be at 16,000 by this time this year and advised to buy Merrill Lynch which was at $76.04, Goldman Sachs Group at $175.00, and Washington Mutual Inc. at $13.07. Peter Schiff said those were all bad ideas and to stay away from them. The other economists should have listened. As of the close of November 12th the Dow closed at 8,358.64, Merrill Lynch & Co Inc closed at 13.35, Goldman Sachs Group Inc set a new 52-week low reaching $64.54, and Washington Mutual Inc closed at 0.063

You can listen to more of what Peter Schiff at Part 1 of 6, 2 of 6, 3 of 6, 4 of 6, 5 of 6, and 6 of 6. He has written a piece named Just stop paying your mortgage that is partially sarcastic and partially truthful. The reasons why match much of what Gerald Celente has predicted.

The highly respected Mr. Celente of The Trends Research has predicted Food Riots, Tax Rebellions and more to happen in the USA within the next 4 years. Here is his shortened prediction:

“Celente says that by 2012 America will become an undeveloped nation, that there will be a revolution marked by food riots, squatter rebellions, tax revolts and job marches, and that holidays will be more about obtaining food, not gifts.”

Here he is talking about it with a variety of hosts:

If you think that I’m being pessimistic or they might be wrong, think again. What they are warning about is beginning. The Federal Credit Crisis tab is at $5 Trillion and Climbing.

What got the USA to this point? Let me summarize what Mr. Schiff and Mr. Celente are saying.

The USA has not had or pursued an energy program for over 30 years while the rest of the world has. The Congress is still blocking a comprehensive plan. The various entitlement programs are killing the ability to fund the needed features and it will get much worse. The USA has also overextended itself militarily just like England, Spain and France did before. It is a financial drain that can’t be sustained. The production capacity of the country has been exported due to taxes being far too high on companies (2nd highest in the world). That leaves a false GNP based on spending our way into huge debt. Both Republicans and Democrats are to blame for this mess created over several decades. Baseline – Government is the problem. The debt is about to be called in and collected.

Contrary to what some believe and hope, NO President of the USA can change the course the USA is on. They do not have the legal power, the means, or the collective brain power to get out of it. The hole is too deep. All they can do is either the political suicidal move of doing nothing and let the corrections run its course or more government intervention which will make matters far worse.

I welcome you to do your own research. These two guys found through those links are a solid place to start. It isn’t going to be pretty in the USA so get ready for the ride.

Thanks for reading,

Anah