Things Don't Look Rosey For These Fellows . . .

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www.2inovate.comI know Charles Nenner personally as I was once a client of his. He is a brilliant man by all respects who has called various turns in the financial markets correctly -- for years. An article I just read paired him up with Marc Faber and Gerald Celente - both brilliant in their own rights on economics. With that said, I will recapture some of the articles most interesting points:

 

It's crazy to think that America would launch wars to help the economy, right? Maybe not so outrageous after all. A leading economist, Marc Faber has repeatedly made the claim that the American government will start new wars in response to  the economic crisis: "The next thing the government will do to distract the attention of the people on bad economic conditions is they'll start a war somewhere." "If the global economy doesn't recover, usually people go to war."

Those are bold statements to say the least. The questions remains; is Faber right? Perhaps. Gerald Celente is one of the few economic forecasters who accurately predicted the '08 crash, the 1987 stock market crash, the fall of the Soviet Union, the dot-com bust, the gold bull market, the 2001 recession and a handful of other economic disasters -- all spot on the money.

Celente points out that "Governments seem to be emboldened by their failures." What the late Gen. William E. Odom trenchantly described as "the worst strategic disaster in American military history" – the invasion of Iraq – is being followed up by a far larger military operation, one that will burden us for many years to come.

    I certainly hope Faber and Calente are wrong. But they are both very smart guys who have been right on many of their forecasts for decades. Even when their predictions have been viewed as extremely controversial at the time, many of them have turned out to be right.

Yesterday, former Goldman Sachs technical analyst Charles Nenner - who has made some big accurate calls, and counts major hedge funds, banks, brokerage houses, and high net worth individuals as clients. - told Fox News that there will be “a major war starting at the end of 2012 to 2013”, which will drive the Dow to 5,000.

Comments (9)

Tamara Schuster
Naperville Glen Ellyn Lisle Plainfield Wheaton Illinois - Naperville, IL
Realtor Broker - Naperville

Remember no matter what happens everyone needs a place to live. That is why I still feel that Real Estate is still a good bet if you buy right and hold long term.  As for the predictions we can only pray for the best !

May 15, 2011 05:39 PM
Mel Ahrens, MBA, Kelly Right Real Estate
Kelly Right Real Estate - Hood River, OR
Customized Choices for your Real Estate Needs

Let's hope that forecast is wrong on both counts, the war and the Dow at 5,000.  Hard to imagine another after the two current ones are starting to be wound down.

Mel

May 15, 2011 05:42 PM
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

Larry, may I respond to this post with the words of Jesus Christ:

"And you will hear of wars and rumors of wars. See that you are not troubled; for all these things must come to pass..."

Whether it be Bush II or Obama, the Wars (against who or what?) will continue...


May 15, 2011 05:49 PM
Pamela Seley
West Coast Realty Division - Murrieta, CA
Residential Real Estate Agent serving SW RivCo CA

A major war at the end of 2012? that's if the world doesn't end on December 21, 2012 (noted as the last day of the Mayan calendar). IMO the Mayans decided they had to stop somewhere and it just so happened to be that date. Joking aside, I agree with what these economists are saying: wars do take the focus off the bad economy at home. My question is should we be fighting oversees in countries we really have no business being in and going bankrupt to do it? Just my 2 cents.

May 15, 2011 06:08 PM
Larry Kanter
2inovate - Phoenix, AZ

Pamela, your question is spot on. The answer in my opinion is no to both counts.

May 15, 2011 07:16 PM
Larry Kanter
2inovate - Phoenix, AZ

Fred - that's quite the comment, I must say!

May 15, 2011 07:16 PM
Larry Kanter
2inovate - Phoenix, AZ

Tamara - I would guess that you always see the glass as half full, now don't ya! I like a positive thinker!

May 15, 2011 07:17 PM
Maria Morton
Platinum Realty - Kansas City, MO
Kansas City Real Estate 816-560-3758

Larry, I wondered if maybe the government would gear up for another war. Sad to think that could happen but they very well may.

May 15, 2011 09:54 PM
Larry Kanter
2inovate - Phoenix, AZ

Maria, I would be surprised if it didn't happen. The only thing I think about is when and with whom?

May 16, 2011 06:33 AM