ECONOMIC COLLAPSE: Steve Forbes predicts a Stock Market Crash worse than 1930’s

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In today’s video, Christopher Greene of AMTV reports Steve Forbes predicts a Great Depression II.

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Reus says:

Do you live in Phoenix Arizona?

Jimmy Jim says:

it is not sirious,

Dave M says:

A year and a half later and stock markets are stronger than ever, Low interest rates, great housing value, Everything is great yet year after year idiots like this predict a collapse is imminent.

dee hee says:


Beth Lewis says:

this was told off over 50 years ago by herbet w armstrong right out of the bible every single thing he said is coming to pass and fast check out the booklet he was right by the pcg these so called experts know nothing all these wars and all the trouble in this world right now was all fortold in our bibles but still so many seem to think they know better they will learn a hard lession

Patrick Tay says:


tigerone1970 says:

Who is Steve Forbes? Steve Forbes is a neocon, and as such he has helped create the present economic destruction, including the invasion of Iraq that his fellow PNAC Statement of Principles co-signers created.

Suresh Ruparel says:

Banker's not Audited so unaccountable,Admin,Wall St,Fed,Treasury non Audited guys whole West system is biggest F..K cooked n rigged World Economic Order thy now create conflict zones @ world nxt WAR N CULL HUMANS ELITE want clear own shit by war n get public diverted to war n not grab thm by Ball's thy Admin desperately doing War like envoirment ck the actions

cogen651 says:

I'm getting tired of this gold sh!!

Abbas Virji says:

Question: Iam a first time homebuyer (not yet) looking to purchase a 220k house in Nov '15. I have 0 debt and work at a large financial earning 100k/yr. Do you think it is good idea to buy a house if the collapse does come or Hinflation does hit? Should i buy or continue to rent?…. Here is more mortgage details, expected mortgage rate = $1400 (4.3%) and current rent = $1000

Denise Thuman says:

But I've heard there isn't enough gold to back the dollar with the gold. What I heard is the gold that the central bank had they leased it out, melted it down and put it on the market as jewelry. All they have is a piece of paper that says they have gold which they sell to people, to make them feel like they have gold but they don't. From what I heard they are going to print more gold paper and get people to buy them. I think India and China are buying and or have the most physical gold, but not America.

Eric D says:

Linking the dollar to gold won't do a thing to solve the problem of overpriced assets.

Gwenk Snergel says:

he put that out so that the price of gold goes up and he could dump some of his stash for cash. you cannot have currencies based on a finite commodity and compete in the global market. all this hype is a scam.

Edward H.M.Wong says:

Very informative…

LanguageMan1 says:

The upcoming crash is coming alright, sometime within the next five months to four years and it's definitely going to be worse than the 1930's.

alnot01 says:

Between the market high in August 1929, and the market bottom in early July 1932, the American stock market declined 181%. (10/2007 – 2/2009, the market declined 72%.) 100% of that 181% decline occurred starting at the end of August 1931. It is not well known that the single worst month for USA stocks was September 1931 with its 34% decline, when the UK abandoned the gold standard and the Fed raised the discount rate 150 basis points. The Labor Day – Christmas decline in 1932, -50%, exceeded that of 1929, -38%.
The Crash of 1929 was the popping of stock market bubble.  A major recession began because of very high real interest rates (6% nominal with 0 inflation) and an agricultural drought (note drought now in California). These troubles became an all-out economic rout because the Fed did not understand that it should have served as a lender of last resort to the banking system. Hence 40% of American banks failed 1930-34. Nominal interest rates fell to 2-3%, but deflation hit -10%. Hence real interest rates soared to impossible levels.
Three major differences between now and 1929-32:
* buying stocks using borrowed money is seriously regulated;
* about half of all stocks are owned by retirement plans
* the Fed will never allow material deflation.

Ryan James says:

"loose like a hooker"

tiffsaver says:

You compared the Fed's "loose dollar policy" to a hooker.  Please don't put down hookers that way! On second thought, maybe the Fed and hookers have something in common… they both fuck people for money.

Edward Dodson says:

My own research supports the view that we are headed for yet another, more severe economic and financial collapse. However, the reasons are found in our systems of property law and taxation, characteristics of the U.S. and essentially all other societies that are long-standing. Boom-to-bust cycles are nothing new. They have occurred with remarkable consistency over the last three centuries, interrupted only when warfare between empire-building nations has created an artificial, short-term full employment  economy. Then, when a truce is finally negotiated, societies must begin to rebuild the destroyed physical infrastructure.

Centuries ago, analysts such as Anne Robert Jacques Turgot and Adam Smith warned that all societies were dominated by a non-productive "rentier elite." This elite held sufficient political power to shift the burden of taxation from themselves to those who actually produced goods or delivered services. In their era the owners of land claimed one-third to one-half of all goods produced in rents. They then removed people from the land in order to engage in commercial agriculture. The unemployed moved to the cities to compete with one another for scarce jobs at low wages. Many then migrated to parts of the globe where land was still freely available, or joined the military to serve the interests of the empire-building owners of land and industry. Urban land rents enriched land owners and stimulated the creation of economies dominated not by production but by land and resource speculation. From the moment European settlers arrived in North America, South America, Australia, New Zealand, Asia and Africa the process was repeated.

What Turgot and Smith argued was simple: the rent of land (i.e., the potential annual rental value of land and land-like assets, such as the broadcast spectrum) was rightfully societal property. This should be the fund collected to provide for public goods and services. Taxes on earned income flows, on capital goods and on commerce should be eliminated altogether. In the late 19th century, this program became the basis for the political movement started by the American writer and newspaper editor Henry George. Interestingly, among the handful of economists who forecasted the 2008 crash, the group is dominated by economics professors who have studied Henry George's theory of business cycles and embraced his fundamental analysis.


QE to infinity…

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