Comments on: Gerald Celente: “There is no economic recovery- it’s a cover-up” http://www.investmentpostcards.com/2009/10/26/gerald-celente-there-is-no-economic-recovery-its-a-cover-up/ Prieur du Plessis’s international investment blog Sun, 29 Jan 2012 22:06:48 +0000 hourly 1 http://wordpress.org/?v=3.1.1 By: basehitzhttp://www.investmentpostcards.com/2009/10/26/gerald-celente-there-is-no-economic-recovery-its-a-cover-up/comment-page-1/#comment-19659 basehitz Mon, 26 Oct 2009 15:07:11 +0000 http://www.investmentpostcards.com/?p=12633#comment-19659 If Celente is even directionally correct, given the incessant hype from Tout TV and other propaganda outlets, we're in for a very rude awakening. The shock factor will multiply the effect.Realistically, besides printing money to finance endless backstops, bailouts and handouts to the politically connected, what have we done constructive? And it's not like there aren't viable options. For example, the US could develop it's own abundant resources offshore and other areas, instead of remaining dangerously dependent on foreigners to send cheap oil paid for with borrowed money. And the govt let CIT fail (finances 1 million small businesses) while providing GM $50B in financing under the illusion they will ever be globally competitive.We are our own worst enemy. If Celente is even directionally correct, given the incessant hype from Tout TV and other propaganda outlets, we’re in for a very rude awakening. The shock factor will multiply the effect.

Realistically, besides printing money to finance endless backstops, bailouts and handouts to the politically connected, what have we done constructive? And it’s not like there aren’t viable options. For example, the US could develop it’s own abundant resources offshore and other areas, instead of remaining dangerously dependent on foreigners to send cheap oil paid for with borrowed money. And the govt let CIT fail (finances 1 million small businesses) while providing GM $50B in financing under the illusion they will ever be globally competitive.

We are our own worst enemy.

]]>