Economic Update (August 21, 2009) Who do you trust?

[bc777isbt]

You have to actually have cash in stocks to know whats up I know people who watch the market 8 hours a day.. Hit the spots that do well then pull out typical people go by the books (nerdy ones) smart ones know what up and will see through shit if your smart you can bank off of the market.

[indigohealer80]

Peter Schiff was right. Peter Schiff is right.

[flatnerd]

Another way of determining the short term future development of the stockmarket is looking at who is buying and who is selling. Right now professionals are selling and private citizens are buying. Very bearish.

[mmac382]

Heres the truth reccession is when your neighbor is out of work. Depression is when your out of work. The economy is not a single entity. The top or bottom makes no differance. One cam only work to improve ones own comdition.Some businesses are getting better,, some aren't. Because of the internet, the stock market is only a knee jerk reaction to the news. If the goverment continues to hate big business or any business we will see a slow recovery.

[yellowmanlives]

Good stuff. Im glad i checked this out

[flamedrifter011]

boring..... 0.o

[endlessmountain]

im not here to entertain, I am here to give news of truth.

[motogpslider]

Thank you for spreading the truths!

[connecttoyourenergy]

I predict between now and November 200+ banks will have closed.

[vimzibaiegh]

True: Buffet probably can't be trusted to benefit anyone but Buffet himself; & time lines have been condensed. However, unless I'm mistaken, webbot picks up on [people's] writings on the internet. Has anyone considered that what is being predicted is exactly what the PTB wants everyone to think will happen? They turned this latest depression around like it never existed, in that now a slow recovery is predicted. Yet still we might see a three day shortage of food and energy, via false flag.

[endlessmountain]

I do not consider too much that the PTB wants everyone to think it would happen because they do their darndest to shut people out like Goerge Ure, G. Celente and myself. Because of this if you want people to be distracted on what they say I think of their called economic recovery, H1N1 and Health care plan as part of their plan some how.

[vimzibaiegh]

A collapse could be a decade away. Acutally I'm accumulating broader market funds. Someone before said Buffet foresees "market destruction." Factually Buffet recently applauded current money printing policies. In the NY Times on 8/19/09 Buffet said that the US is on a slow path to recovery. He does caution that when inflation increases further, that the FED will need to reverse course. I think that the FED will let inflation run exactly like in 2003. In any event Buffet is tickled pink.

[endlessmountain]

Buffet gave a lot of truth. Whatever he says (pick the opposite) and you win. His track record is horrid.

Regarding 10 years -

considering the cycles we go through a decade, serious stuff has to happen and it should be quicker. For more and more stuff has always happened in less and less time. 10 years in the 30s is less than a year today for the amount of evolution that occurs in our world. This is probably why the death of the dollar will last a little over a year according to webbot.

[Dean0000007]

It hard to believe anything Buffett says he's played the market for years. The 2 corporations that will win the biggest from stimulus money is GE, and bailout being Goldman Sacs. Of which, both companies Buffett invested heavily after the market crash.

[bogardan666]

Buffett is 100% trustworthy. He is the oracle.

He has never played the market but he has invested in the best companies.

[Dean0000007]

Kind of sounds like what they said about Greenspan when he came out of the federal reserve monthly to give information on whether they will increase rates or not. They also have another similarity, they have inside information that we are not privy to. Therefor it's a game inwhich the average person cannot win at.

[Bassmarko]

People with a brain and the facts know the system will collapse. The question is how hard they can kick this can down the road. They are using freshly printed dollars to manage as many things in the economy as possible. Fact: there is no such thing as a jobless recovery under the current system. Not when the system is based on 70% consumer activity. The question really is when. I feel Commercial will push us over the edge. That collapse is happening now. Hold onto your shorts.

[PREPAREORSUFFER]

the system is FINISHED !!! NEVER..EVER......to come back in its current form....yaaaaaaaayyyyyyyyyy!!!

[usernamenotreserved]

Facts speak louder than words: last week the dollar lost ground to the Euro, the Pound and the Swiss franc, the Obama followers would have had to make a fortune last week to offset the devaluation. It is simply a matter of time, bye, bye american pie...

[usernamenotreserved]

drove my clunker to the levy but the levy was dry...

[NotACrookProductions]

1 Googol and pay off everything - that made me laugh hard.

[ExquisiteDoom]

My source of information is the best! It's called Ben Bernanke! He has a perfect track record of being wrong. I would follow him blindly! But i'm too short of nuts to get in the stocks market ;(

[kent6608]

Am I getting sick ? I get mad when I see positive news, or at least positive news that the main media informs. Make my stomach hurt. Everybody talks about the dollar collapse. But when will it come. Or will it come? Or is that just wishful thinking from a small portion people that think, they know the truth? Will a collapse make a better system be formed in the aftermath?

[endlessmountain]

webbot and myself have given dates for this collapse and the start of the next shoe is a few weeks away (September) and the duration is over a year long.

[Shocksink]

wazzup D!

[Lynchian74]

Great video. What I find most disturbing is that those of us who are predicting the economic apocolypse (which is will accelerate in the next few weeks) are well read people with common sense and logic. The optimists are complete and utter pollyannas living in a world of make believe.

[NowisEvollovetion]

As in any 'CASINO' whether it be in Vegas or on Wall Street,

THE HOUSE 'ALWAYS WINS' IN THE END.

[endlessmountain]

you are right. The casino will love paying winners what they win because they are taking that money from the losers who lose.

They smile giving you your profits and they smile taking your life savings.

[loai050]

I'll hold on the gold then Derek, thanks for your considered opinion. 5*

[RodneyHampton]

Good stuff. Between bloomberg, cnbc, msn money (all their advice is bad except for the stock tips which you should use to do the exact opposite), the marketwatch comments, denninger and zerohedge and you I think I actually understand what is happening.

Thank you!

[DEMCAD]

It always makes me laugh when people use the stock market as an indicator of economic health.

You're right, revolution is inevitable. The system is crashing.

[endlessmountain]

Thank you. Guessing the fine details is the hard part. That is why I try to stay away from the fine details unless I think I can tackle those hard predictions.

[controlpopulation]

75 million baby boomers are set to retire starting next year. They will take billions out of the American market. There will be no recovery, there will be chaos here first because Americans aren't hard enough to handle bad times today.

Unlike our grandfathers and great grandfathers, who also grew up in bad times, they at least were civil. Not a chance today with half the US on anti-depressants.

[RodneyHampton]

Did you look at Denninger's column on Friday? Social Security is already running in the red because the cash coming in has dried up.

[Frequencitee]

I do listen to Deninger, but when he talks about PM's, I don't know what to believe. Sorry, off-topic a bit there.

I did hear his report and wondered why no one, especially the "boomers", aren't focused on that.

[controlpopulation]

I haven't read Denningers but I knew that already. SS was a scam after 1970. They just use the money to expand their massive spending habit. Social Security was robbed years ago.

[jamesarongray]

love your vids

[goscott4]

Jobless recovery??.....yeah right!

[ozwasp]

Are you sure you're not just a pessimist?

[endlessmountain]

I addressed this issue recently with my Optimistic views on the economy.

After all I am very optimistic that the unemployment rate will go much higher and this is a great thing for this is a form of slavery for the dollar. Pessimism to me is saying people go back to work, lending is restored and we once again slaves to the dollar.

[MonteCristoRecords]

Went to a trade show in Western PA yesterday and a lot of the suppliers/manufacturers of electronic boards/assemblies and machinery were saying that jobs are coming back to US! because of higher costs overseas (and more desperate nature of American workers?). Maybe that 70% consumer economy is moving back to a more reasonable balance and there is hope for the US of A?! We (the Government) need to support production in America.

[vimzibaiegh]

Good point. I'll add that I believe that the falsehoods are bigger than the direction of the market or what Bernanke predicts. I feel that much of the talk about the great calamity conveniently termed, "the economic crisis," was & continues to be no more than a hoax-i.e. a false flag in itself of sorts. If the economy was in such dire straits that billions of dollars needed to support it, logic suggests that the economy could not have turned around and rally 50% as if nothing ever happened.

[Eraser7622]

You give WAY too much credit to "the market". The "rally" you're talking about is a false rally based on inflation and disconnected wall street brokerage houses seeking to profit by suckering those people who pulled out of the market to save what was left of their life savings back into play only to see the rest of it sucked away during the coming collapse. Even Buffet, in his infinite idiocy, is calling for a dollar collapse and market destruction. Don't be fooled. There is no recovery.

[pieater53]

isnt it pretty pathetic that we have to believe the opposite of what the government and media tell us. When are people going to say enough is enough. Its becoming surreal, We are like lambs being led to are demise and there are still alot of people that dont have a clue. Those people at cnbc should be horse whipped.

[afsoldr]

Fuel for the fire that is already burning: The administration today (after market close) announced thier updated 10yr budget projection....no surprise, a $2T increase from the orginal deficit estimate from the spring. That's now $9T deficit over the next 10yrs. And my money says that's still optimistic. Completely unsustainable; only 3 solutions: hyper-inflation, default, or collapse. There is of course a 4th option, which would never happen: slash the snot out of spending.

[thane17]

I''m learning a lot from you man, thanks!

I was wondering if you would care to explore some scenarios in a future video such as

The revolution going badly and the u.s fracturing as a country

The u.s sliding too slowly into communism for sufficient numbers of people to rise up

What is the possible worst case scenario and what does it look like, etc..

Thanks for all you do

[endlessmountain]

The revolution in the early stages may look like it is going badly. This is because it never looks pretty the first time we do something. Showing the example is the YT Vloggers whom are standing up are still being out weighed in mass numbers my MSM like Dennis Kneale and its taking time.

I'll explain more on the inventory bubble this weekend.

[mountaingoatrunning]

Derek! You do such a great job! Your advice is right on the money and I appreciate your attempt to keep us informed. Looking forward to your next session.

[1mealperday]

fav and 5s

friend of truth is friend of mine.

[sandratribble]

4 More Banks failed today...the worst is ahead. Thanks again for the info.

[endlessmountain]

How does that not surprise me to hear four more banks going down.

[Xx7Zeithious7xX]

GJ!

[dwfierce]

George Ure from Webbot predicts DOW to go to 9700, and says to get completely OUT by Sept. 22

[endlessmountain]

we are almost at 9,700 now and I am feeling SEPT to be wild.

[dwfierce]

Nice

[Dakarah777]

Good job Derek! Thank you for your insight!