Federal Reserve Chairman Ben Bernanke warned Congress on Wednesday that the economy may shrink over the first half of this year, which would signal the start of a recession. (April 2)

158-Year-Old Investment Bank Goes Belly-Up After Failed Rescue Bid; Bank Of America Takes Over Merrill Lynch


Say hello to a recession very soon!

signs of economic depression brewing.

as the signs of economic depression continue what are you doing to prepare??

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When the analysts and experts talk about the current financial crisis, they often refer to credit default swaps. So, what exactly is a credit default swap? Marketplace Senior Editor Paddy Hirsch goes to the whiteboard for this explanation.

'Crisis Only Just Beginning': Right About the Crash, Peter Schiff Sees More Pain Ahead

There's a popular YouTube clip called "Peter Schiff Was Right" that shows the president of Euro Pacific Capital engaged in on-air debates with financial luminaries such as Art Laffer and Ben Stein, circa 2006-07.

The clips show the wisdom of Schiff's dire forecasts — and, judging from the dismissive reactions, just how far he was outside the mainstream.

Ben Stein publicly apologized to Schiff in a New York Times column, but Laffer refuses to admit defeat, recently telling Bill Maher his economic forecasts have a statute of limitations of just nine months.

To his credit, Schiff isn't declaring victory, noting "100% of my forecast hasn't panned out," most notably "a major collapse in the dollar" that leads to a spike commodity prices.

As discussed in the accompanying video, Schiff believes the recent dollar rally and commodity price weakness will prove temporary.

The financial house of cards collapses and the overinflated stock market plunges into a Great Depression. It started in America, but practically overnight, an economic blizzard grips the world.

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Great Depression - (More Info)
Stock Market Crash of 1929 - (More Info)
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Gerald Celente, and analyst renowned for accuracy on forecasting trends, explains why the impending economic collapse, next escalating to a serious retail and commercial real estate collapse, will be greater than the Great Depression of 1929; speaking on the Lew Rockwell Show.

Peace,
WhereIsTruth

"T he people ask you about the Hour (of Retribution, Tribulation, Judgment.) Say, 'The knowledge thereof is only with GOD. For all that you know, the Hour may be close.'"
Surah 33:63
Holy Quran

To most Americans, the Federal Reserve is just another name on their dollar bill. They don't know that this secretive private bank controls America's entire economic system. The Federal Reserve is no more federal than Federal Express. Created with no constitutional authority in 1913, the Fed prints money out of thin air and loans it to the U.S. treasury at interest. This can only lead to one outcome: debt. Currently, the Federal Reserve is printing billions of dollars to bail out Wall Street while destroying the middle class and the dollar. If our country wants a sound and transparent monetary system, we need to phase out the Federal Reserve system giving power back to the U.S. treasury.

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The Money Masters
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Fiat Empire
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This video lays out the underlying reasons behind the market crash. very telling

Also note this is not just a normal market correction, this is the begining of the collapse of our monetary system.

WAKE UP

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Watch Robert Prechter on Bloomberg TV on the 20th anniversary of the 1987 stock market crash predict what is unfolding before our eyes today. An uncannily accurate forecast from the man that forecast the 1987 stock market crash.

Why would anyone think that the Fed's actions have any influence whatsoever on the trend in the stock market?

The Fed has similarly cut the discount rate twice in recent months, and on all occasions (Sept. 18, Oct. 31, Jan. 22, Jan. 30) the stock market immediately rallied... only to see prices give back those gains and more, within a few short days or weeks.

Mind you, these are recent and relatively minor instances. There are longer-term examples that unfolded for years, such as the Fed's historic campaign in 2001-2002 that saw a DOZEN rate cuts, during which time the S&P 500 lost HALF of its value.

More dramatic still was the Bank of Japan's campaign that took rates to virtually ZERO for entire decade, even as their Nikkei stock index declined and/or languished over the entire period.

There's nothing new about this information -- we've spelled it all out before, as recently as Bob Prechter's Nov. 27 and Jan. 24 appearances on Bloomberg television.

Watch Prechter on Nov. 27: (More Info)

With charts and facts, Bob showed how powerless the Fed really is; he also reminded the audience that "People should be careful of what they wish for when they ask for lower rates."

Yes, the financial establishment labels Bob Prechter a contrarian. But, what does it say about that establishment's state of mind when arguments based on facts and evidence make a person "contrary"?

All the charts Bob included in that interview -- in fact, everything he said at the time and more -- is in the current Elliott Wave Theorist and Elliott Wave Financial Forecast. See it all on your computer screen in minutes, via the fast link below.

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