[quote=Aecetia]
I also found this prediction that is a bit negative, but worth looking at, but I hope he is wrong about the terror attack:
Gerald Celente predicted a crash in 2010. According to Celente, last year’s economic collapse never hit bottom because government bailouts kept things propped up. To make matters worse this year, there will be a collapse in the commercial real estate market, he continued. Celente anticipates a 9/11 level terrorist attack that banks will use as an excuse to devalue our currency. He suggested people refrain from debt spending, keep some cash on hand, and buy local (American made) products when possible.
Gerald Celente has a knack for getting the zeitgeist right.— USA Today http://www.trendsresearch.com/
[/quote]
But, if the currency is devalued, wouldn’t debt be effectively reduced in his scenario. If one believed this scenario why wouldn;t he recommend using debt to buy hard assets?
That way, when the currency is devalued, you still have the hard assets (gold, ammo, shelter, land, etc), but the debt (which is based in a specific currency) is also devalued.
Not that I recommend that strategy, since I don;t believe the prediction is likely to come true over the course of 2010.
