Comments on: What To Do With Your Money Just In Case Trends Forecaster Gerald Celente Is Right

By: Gary

Gary — Thu, 27 Aug 2009 18:03:48 +0000

The only for sure thing is that we are going to be paying more taxes to pay the debt off…as far as the US going down the tube…if we do so does everyone else…the world felt this last debaucle…its a world economy not a US economy…GOLD…LMAO…can you eat it and besides when the economy does right itself the value of gold will plummet too…money currency is just a way to keep score…if you really want to protect yourself buy some land where you can grow plenty to eat and raise livestock like our forefathers did 100s of years ago…and remember its only life dont take it too serious as no one gets out alive anyway…quit worrying and enjoy simple life.

By: Dyski

Dyski — Thu, 13 Aug 2009 11:48:32 +0000

I have many doubts about what any expert in Fox News says (I think it is not hard to understand why). To be honest I don’t have many savings and just try to keep them on my bank account but if I had really huge amount of money I would put them in few places to be certain that if one thing will go bad, others will assure me that I’m not broke :) I would use few different bank accounts, I think that is the safest way of not loosing money. I would not risk playing in stock market next few months, I’m too nervous :)

By: Tman

Tman — Tue, 04 Aug 2009 21:41:52 +0000

There is the off chance that the democrats in office get whacked hard enough by their constituents during their August recess that they see the incumbent death notes on the wall and reverse course in regards to their insane spending proposals. This may allow the markets to shore up and find the bottom so a true recovery can start.

By: MoneyEnergy

MoneyEnergy — Tue, 04 Aug 2009 16:05:27 +0000

@FFB – yeah, his Buffett comment is probably stupid and better directed at someone else. However, that is the first time I’ve ever heard him say anything about Buffett, so it’s probably not very reflective of Celente’s other conclusions or his company, really. Celente would have made the comment about any Wall St. banker, I think.

By: FFB

FFB — Tue, 04 Aug 2009 16:01:07 +0000

Right off the bat he’s asking what Buffett has done for society. Does he realize Buffett is giving away most of his money not to his heirs but to charity? This was highly publicized. Makes me question anything else this guy says.

I do wonder where the US will be but we have a knack for re-inventing ourselves too!

By: MoneyEnergy

MoneyEnergy — Tue, 04 Aug 2009 15:36:17 +0000

@Penny – sorry, wasn’t trying to depress anyone!:) it is worrisome, though, you’re right!… I always think it’s better to look at all the possible facts; I know that Celente has had plans to leave the U.S. if he thinks he needs to; that is extreme. But I still think it’s good to diversify into other currencies, etc. – I wouldn’t call it “hoarding” which makes it sound like one is a crazy hermit or something – all hedge funds and institutional investors do it – individuals should too!

By: Penny

Penny — Tue, 04 Aug 2009 12:54:13 +0000

Wow, that’s the most depressing thing I’ve read all day! While I have been wanting to diversify my portfolio with foreign currencies. If the US is really going to burst into flames I’m not sure what hoarding gold, francs, and canned goods will do for you unless you plan to jump ship to a new country.

By: MoneyEnergy

MoneyEnergy — Tue, 04 Aug 2009 02:37:04 +0000

@NoDebtPlan – “internal panic lever,” yes, I have one too:) I view Celente not quite with full-on “skepticism,” but more just with cautious realism – I separate out his own personal extreme views and try to take his company’s findings for what they are. It’s possible there’s some ego involved in his appearing on media show after media show, but I doubt he’s trying to rally up gold or anything for his own benefit. But yes, if the extreme end of what he says happens, there will be bigger probs than just our investments!

@Jordan – I didn’t know there was “Buffett hate” going around but I didn’t mean to contribute to any… I guess that’s just Celente’s polemical opinion. I agree with your general point about people vilifying whomever/whatever sticks out from the average…

By: No Debt Plan

No Debt Plan — Tue, 04 Aug 2009 00:28:00 +0000

As much as this pulls on my internal panic lever I view this guy with skepticism. He proclaims he has nailed so many predictions in the past.

If that were the case and he could literally see the future:
1. Why wouldn’t he have acted to a point that he would be Buffett?
2. He doesn’t say how many things he has gotten wrong. I can throw darts at a wall and some of them through pure statistics will be high scoring shots.
3. What does he have to gain by scaring people? Hey look, gold went up — good for his investment portfolio.

That having been said I think some of the things he says are spot on. Will America fail? I don’t know. If it does we will all have bigger problems than the value of our investments going down.

By: Jordan

Jordan — Mon, 03 Aug 2009 23:54:20 +0000

This Buffett hate is really the craziest disease. The man hardly goes to work every morning because he “wants more money”. He does it because he is the trusted custodian of many, many other people’s money and because he likes making his company run smoothly. He just likes doing what he’s good at, like any true craftsman the world has ever produced. He’s not an angel, but he’s a better man than most in any career. It’s like everyone jumping on Google for anything they can cast as being “evil”, simply because Google is successful and admired and sets a high standard for themselves. It all comes crashing down when you objectively compare them to any of their contemporaries.

What we should have learned out of all this economic mess is to distrust our government, or perhaps to distrust ourselves *AND* our government. Instead people somehow learned to bash free market capitalism. Which is bizarre, since we didn’t have free market capitalism to begin with.

If government wants to fix the economy, for now and the future, they should do away with minimum wage and many other requirements for employers. You can’t legislate quality-of-life while maintaining free trade with other nations who don’t, or who legislate a lower quality-of-life. Bringing back manufacturing is easy: let the market dictate what labor is worth. The only other option is to shut down most imports. But if you don’t take either path, manufacturing will continue to leave the country. And we’re just not all cut out for white-collar work.