Sunday, 15 December 2013

What Some of Those Who Predicted The Subprime Mortgage Meltdown Say About 2014

What are Harry Dent, Marc Faber, Gerald Celente, Mike Maloney, Jim Rogers and nine other respected economic experts saying about what they believe is coming in 2014 and beyond?

Here is a quick summary:

  • Harry Dent: another slowdown and stock crash accelerating between very early 2014 and early 2015, and possibly lasting well into 2015 or even 2016.
  • Marc Faber: we are again in a massive financial bubble in bonds, in equities, in [other] asset prices that have gone up dramatically."
  • Gerald Celente: We are saying that by the second quarter of 2014, we expect the bottom to fall out… or something to divert our attention as it falls out.
  • Mike Maloney: I think the crash of 2008 was just a speed bump on the way to the main event...
  • Jim Rogers: You saw what happened in 2008-2009, which was worse than the previous economic setback because the debt was so much higher. Well now the debt is staggeringly much higher, and so the next economic problem, whenever it happens and whatever causes it, is going to be worse than in the past...
  • Lindsey Williams: There is going to be a global currency reset
  • Howard Marks: I have no doubt that markets are riskier than at any other time since the depths of the crisis in late 2008 (for credit) or early 2009 (for equities), and they are becoming more so.
  • Jeff Berwick: If they allow interest rates to rise, it will effectively make the U.S. government bankrupt and insolvent, and it would make the U.S. government collapse...
  • Michael Pento: Disappointingly, it is much more probable that the government has brought us out of the Great Recession, only to set us up for the Greater Depression, which lies just on the other side of interest rate normalization
  • Laurence Kotlikoff: Eventually somebody recognizes this and starts dumping the bonds, and interest rates go up, and inflation takes off, and were off to the races.
  • Hugo SalinasI think we are going to see a series of bankruptcies. I think the rise in interest rates is the fatal sign which is going to ignite a derivatives crisis.   This is going to bring down the derivatives system (and the financial system).
  • Robert Shiller: I'm not sounding the alarm yet.  But in many countries the stock price levels are high, and in many real estate markets prices have risen sharply...that could end badly.
  • David StockmanWe have a massive bubble everywhere, from Japan, to China, Europe, to the UK.
Read the full article on Zerohedge here