Faber, Rogers, Dent, Maloney, & Stockman – What Do They Say Is Coming In 2014?

Tyler Durden's picture

Submitted by Michael Snyder of The Economic Collapse blog,

Some of the most respected prognosticators in the financial world are warning that what is coming in 2014 and beyond is going to shake America to the core.  Many of the quotes that you are about to read are from individuals that actually predicted the subprime mortgage meltdown and the financial crisis of 2008 ahead of time.  So they have a track record of being right.  Does that guarantee that they will be right about what is coming in 2014?  Of course not.  In fact, as you will see below, not all of them agree about exactly what is coming next.  But without a doubt, all of their forecasts are quite ominous.  The following are quotes from Harry Dent, Marc Faber, Gerald Celente, Mike Maloney, Jim Rogers and nine other respected economic experts about what they believe is coming in 2014 and beyond...

-Harry Dent, author of The Great Depression Ahead: "Our best long-term and intermediate cycles suggest another slowdown and stock crash accelerating between very early 2014 and early 2015, and possibly lasting well into 2015 or even 2016. The worst economic trends due to demographics will hit between 2014 and 2019. The U.S. economy is likely to suffer a minor or major crash by early 2015 and another between late 2017 and late 2019 or early 2020 at the latest."

-Marc Faber, editor and publisher of the Gloom, Boom & Doom Report: "You have to say that we are again in a massive financial bubble in bonds, in equities, in [other] asset prices that have gone up dramatically."

-Gerald Celente: "Any self-respecting adult that hears McConnell, Reid, Boehner, Ryan, one after another, and buys this baloney… they deserve what they get.

And as for the international scene… the whole thing is collapsing.

That’s our forecast.

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, host of Hidden Secrets of Money: "I think the crash of 2008 was just a speed bump on the way to the main event… the consequences are gonna be horrific… the rest of the decade will bring us the greatest financial calamity in history."

-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, because we have these unbelievable levels of debt, and unbelievable levels of money printing all over the world. Be worried and get prepared. Now it [a collapse] may not happen until 2016 or something, I have no idea when it’s going to happen, but when it comes, be careful."

-Lindsey Williams: "There is going to be a global currency reset."

-CLSA's Russell Napier: "We are on the eve of a deflationary shock which will likely reduce equity valuations from very high to very low levels."

-Oaktree Capital's Howard Marks: "Certainly risk tolerance has been increasing of late; high returns on risky assets have encouraged more of the same; and the markets are becoming more heated. The bottom line varies from sector to sector, but 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."

-Financial editor 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. . . . They are preparing for a major societal collapse.  It is obvious and it will happen, and it will be very scary and very dangerous."

-Michael Pento, founder of Pento Portfolio Strategies: "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."

-Boston University Economics Professor 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."

-Mexican Billionaire Hugo Salinas Price: "I 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).

There are (over) one quadrillion dollars of derivatives and most of them are related to interest rates.  The spiking of interest rates in the United States may set that off.  What is going to happen in the world is eventually we are going to come to a moment where there is going to be massive bankruptcies around the globe."

-Robert Shiller, one of the winners of the 2013 Nobel prize for economics: "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 Stockman, former Director of the Office of Management and Budget under President Ronald Reagan: "We have a massive bubble everywhere, from Japan, to China, Europe, to the UK.  As a result of this, I think world financial markets are extremely dangerous, unstable, and subject to serious trouble and dislocation in the future."

And certainly there are already signs that the U.S. economy is slowing down as we head into the final weeks of 2013.  For example, on Thursday we learned that the number of initial claims for unemployment benefits increased by 68,000 last week to a disturbingly high total of 368,000.  That was the largest increase that we have seen in more than a year.

In addition, as I wrote about the other day, rail traffic is way down right now.  In fact, for the week ending November 30th, U.S. rail traffic was down 16.3 percent from the same week one year earlier.  That is a very important indicator that economic activity is getting slower.

And we continue to get more evidence that the middle class is being steadily eroded and that poverty in America is rapidly growing.  For example, a survey that was just released found that requests for food assistance and the level of homelessness have both risen significantly in major U.S. cities over the past year...

A survey of 25 American cities, including many of the nation's largest, showed yearly increases in food aid and homelessness.

 

The cities, located throughout 18 states, saw requests for emergency food aid rise by an average of seven percent compared with the previous period a year earlier, according to the US Conference of Mayors study, published Wednesday.

 

All but four cities reported an increase in demand for assistance between the period of September 2012 through August 2013.

Unfortunately, if the economic experts quoted above are correct, this is just the beginning of our problems.

The next wave of the economic collapse is rapidly approaching, and things are going to get much worse than this.

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SafelyGraze's picture

what do they say is coming?

great.

and how many of them run a central bank or act as Primary Dealers or write legislation for congress or implement Training Simulations for crisis actors or issue unaudited pentagon payments?

because *those* folks all say it will be a Really Excellent Year.

Zero Point's picture

Been a great year or two for crisis actors.

Steady work.

I reckon next year they'll go from strength to strength.

stocktivity's picture

Until the fed stops printing, It's all Bullshit!!!

Savyindallas's picture

Printing can't be the answer forever. I don't think it will ever end. When will we see the consequences.

economics9698's picture

Sales are already negative, inflation is a wonderful makeup hiding the zits right now.  Wash that cover girl pancake makeup off and the real economy is about -2% right now.  Maybe as bad as -3%.

 

When the bean counters realize it and cannot hide it anymore all hell will break loose.  Add Obamacare to the middle class budget squeezing out car payments and the shit only gets worse.  

brettd's picture

When the fed adds a trillion (5% of GDP)

And nominal GDP at 2%, that means the economy is 

really at (ballpark) -2% to -3%.

Fewest people employed in a generation.

Most people getting benefits in a century.

Don't need a Princeton PHd to figure that it's not

"if" but "when."

Muddy1's picture

Save this article and a year from now go back and read it to see how accurate, or wrong, these people are.  I did that on 1/1/13 with an article written by Michael Snyder of Economic Collapse.  Some of his 50 predictions are so vague it could be argued he was right just as easily as it could be argued he was wrong.  Some are flat out wrong, including his prediction the stock market would see a big decline.  How are those record highs working for your prediction Michael?  This article has quotes from a wide variety of folks and, again, there are some really vague predictions.  I see Celente is being quoted.  he has been wrong so many times in the last five years I don't even read his nonsense.  Hey Gerald, how's things with your gold investments?  And there are predictions where 2 or more people make the exact opposite predictions.  I'll be impressed the day someone takes their predictions for the year and writes an article in late December pointing out prediction by prediction where they were right and where they were wrong.  How about it Michael????  Want to start a new trend?

Source:  http://theeconomiccollapseblog.com/archives/50-predictions-for-2013

DebtSlaveZombie's picture

I laugh every time Celente opens his mouth.  He has been predicting the same stuff every year since 2009.  I guess his appearances on info wars (god, another tragic show with bold predictions that never come to be) havent helped either.  When do people finally say enough bro, shove those trends up your ass and tell me something real for a change.

tenpanhandle's picture

While I get caught up in predicting doom and gloom to my friends and family and have to constantly dial myself back so to prevent complete alienation, it is obvious that sooner than later something real is gonna get shoved up all our arses.  Hope yer still laughing then.

Deo vindice's picture

"The end is here" predictions have been going on so long it's kind of like the story of the boy who cried "wolf".

The problem is, when the wolf really showed up,  no one listened.

That is what I see happening with these dire predictions.

One day when the disaster really is at the door, few, if any will listen to the warnings.

An old Scottish preacher was once asked when was the best time to get ready to die. He said, "The day before your death".

"But no one knows the day they will die", was the person's answer.

"Right" said the old Scot. "So one should always be ready to die and meet God".

The best preparation is to always be prepared, regardless of the prognosticators' views of tomorrow.

Shocker's picture

No matter what, we are still in for more economic hard times

Full Layoff List: http://www.dailyjobcuts.com

.

philipat's picture

WRT the side picture, yes, but what is Bernanke doing with his single ball?

mjcOH1's picture

He will be throwing it at your face, same as for the last 5 years.

But don't feel bad.   I could tell you a tale of woe regarding bank shorts and the 'fundamentals'.
But hat in hand, I am still not ready to go full retard and BTFATH.

jeff montanye's picture

why is the screen blanking out?

klockwerks's picture

The best preparation is to always be prepared,  Deo, that is the total answer. Pay attention, plan for the worst and hope for the best but above all, BE PREPARED FOR ANYTHING

YC2's picture

Dont be a doomer.  In fact, dont be anything, especially any ism that compells you to evangelize your friends and family.  Live your life, exchange ideas at appropriate times, hope for the "best" and prepare a little for the various flavors of "worst" that could arise.  If the "gold bugs wet dream" reval ends up being the end game, you will be able to take care of them.  

 

I find going down the rabbit hole of central bank cartels interesting, and when the narrative is compelling it alters my financial planning (or even my meta-planning, to use a pretentious word).  If its all misdirection, smoke and mirrors, or inconsequential in the end - I do enjoy a good conspiracy story and the insight into the mindset of a sociopath, fabricated or not.  So, I guess I am hedged for my time reading this blog.

fockewulf190's picture

Hugo Salinas Price gets my vote. For myself, 2014 will be similar to 2013: continue to stack more phyzz, keep the biz running, destroy more debt, reduce energy dependancy by adding more solar panels, buy a nice sized lithium battery stack to store excess juice, eat old inventory and replace with new foods, speculate with a few bucks on gold miners.

Citxmech's picture

I agree that Celente is on an endless loop right now - but what else do you want any of these folks to say? [Other than Lindsay Williams - WTF is that clown even doing in this group?]

The global economy has been walking like Wile E. Coyote off the cliff, on nothing but air, for years now - almost like somebody let the cat out of the bag and told him "just don't look down - and you'll be fine."

Whatever.  More time to prep. 

daedon's picture

Could listen to everyone's confessions ?

CheapBastard's picture

The Housing Bubble is still massively inflated. With interest reversion this will Burst Fugly.

ElvisDog's picture

Agreed. If I had a dollar for every time I heard "when interest rates rise" I would be a rich man.

GetZeeGold's picture

 

 

Uncle Sam might be stupid......but he ain't crazy.

 

If we let interest rates go up.......we're dead.

Blankenstein's picture

And those warning of the housing bubble were laughed at and treated with contempt at least as far back as 2003.  Some of the realtards and their following of sheep were even vicious if the possibility of a bubble was brought up in conversation.  

Also, without all of Ben Almighty's interventions, the current economy, most likely, would be much more depressed.

 

Idiot Mike Norman laughing at Peter Schiff in 2006: 

http://www.youtube.com/watch?v=60CLQse27p8  

And who in their right mind would ever take any advice from that wingnut with a perm. 

Lin S's picture

I won't even read Michael Snyder anymore, he's a broken record replaying the same, old, vaguely generalized song.  No qualifications, no experience, just runs a webpage followed by hicks in West Virginia.

mkkby's picture

The nasdaq will never go down -- 1995-2000.

Housing will never go down -- 2003-2007.

The fed will always save us... signed the muppets.

sessinpo's picture

economics9698   "Wash that cover girl pancake makeup off and the real economy is about -2% right now. Maybe as bad as -3%."

Comment:

I still find it interesting that despite all the printing, those that see growth as negative, don't see it as deflationary.

economics9698     "When the bean counters realize it and cannot hide it anymore all hell will break loose.  Add Obamacare to the middle class budget squeezing out car payments and the shit only gets worse."

 Comment:

So what is occuring here your scenario? People are having to allocate their dollars even more in ways that they can get some sort of value. In other words, those people will choose to spend those dollars in a way those dollars will have greater value. Granted, people should and many tend to do that in inflationary or deflationary cycles. But you have just described a scene of decreasing available dollars for the average Joe trying to make ends meet. One will have to choose between paying for some items and foregoing others.  That is deflationary. Not in the sense that prices are going down, but in the sense that what few dollars you have, are of greater value, and you, the consumer must make even harder decisions to spend those dollars since you will have less dollars.

economics9698's picture

Less clothing, more food luxury items (think frozen fast food), supplemented by food stamps.  Yep, food inflation covering up a loss in sales in other areas.  Living it.

exp626's picture

These guys could be guessing like the rest of us, but whether they are or not we should all be prepared for the worst.  We should be teaching people, especially family about the consitution.  When this thing eventually falls apart, 1-10 years from now? There will be a vacuum and an opportunity to reset this whole thing back on its true foundation.  I like teaching friends with great art, using it to spark thought and conversation.  Here is a great sculpture that teaches the second amendment.  Right now with the latest colorado shooting, the left is getting as much traction as they can with it, as usual.  Good time to send this to those you know.  Remind them the true nature of the second amendment is not just to hunt!  http://jhooley.com/wp-content/uploads/2013/11/shall-not-be-infringed-web.jpg  

 

Drifter's picture

2nd amendment is a dead argument, as is the constitution.   There won't be any "reset" opportunity to "return to the constitution".    National collapse isn't an opportunity to "restore" anything.   It's the end of a nation-as-we-know-it.

Americans put too much faith in those 400 million guns in private hands.  They won't save America because they won't be used to save America.  The guns are there, but the guts aren't.

No one has any idea how a grass-roots revolution would come together and accomplish anything.  Lots of people hope it will happen, but not one of them has any idea how it would happen.  Nobody has thought it through, and if they did think it through, they would realize it's logistically impossible.

Jumbotron's picture

I'm beginning to like you Drifter.  I've been saying something to that effect for years.

This is the primary reason most of the sheeple bleet "WE SUPPORT OUT TROOPS ! "  That's because they don't have the balls to pick up the gun here at home and defend the Constitution here at home.  They all have forgotten that the Constitution was born in blood.....and in the end.....will only be adequately defended once again in blood.  I certainly don't like this fact......hate it actually.  But it is the fact of human nature.  Humans everywhere want control of their lives.  Some, unfortunately, believe they have to control others in order for them to have control......to bring about some form of utopia.  Of course this breeds tyranny.  And the vast majority of the time tyranny can only be rooted out by bloodshed.

But today.....there is too much money to be made for revolution and freedom.

Oh well.....BTFATH.....and let's sit back and watch Dancing with the Stars and the Kardashians.

Welcome to Prison Planet.....where "the Constitution is just a goddam piece of paper.".....right Bushie ?

 

Drifter's picture

I didn't see much "support our troops" during Vietnam.  

What's different now?   Is our reason for being in Iraq, Afghanistan, Lybia, any more noble than Vietnam?  No. 

So why all the "support our troops" nonsense when they're doing the very same thing they did in Vietnam?

Ever wonder about that?

Zero Point's picture

When welfare won't buy happy meals tshtf.

lewy14's picture

Rome had a grain dole.

Foodstamps are nothing new.

Jumbotron's picture

That's right stockivity.  It IS all bullshit as long as there is QEternity.

All the doomsayers are full of shit........I only listen to Hugh Hendry now.......BTATFH and follow the trend.

You can't fight the Fed.

Until of course.......around 2020 give or take a couple of years.  Around that time or a little after, the confluence of EVERY mega-trend out there beings to hit the economic shores.  Even the sheeple won't be able to ignore it.  Then comes the currency collapse and then the next leg down on the Great Deleveraging / Long Emergency.

2018 - 2025 ......the wheels REALLY come off and wars really heat up.

disabledvet's picture

Again "you can only lever up in dollars right now." The carry trade is dead. Japan is rolling over, the CAD has gotten CRUSHED, the euro is ridiculously over priced for what's going on over there. Cable might be an exception because that is money center banking there still. (HSBC, Standard Chartered, etc.) but the only two economies either booming or showing boom potential are China and the USA. As I said many years ago "Chimerica" is anything but chimerical (or is it Chi-miracle?) the only thing certain next year is even more massive quantities of oil and natural gas being pulled out of the ground in North America. So far at least the liquidity has been both infinite and reciprocated. At some point there will be a liquidity shortfall. (LTCM comes to mind. Nothing compared to Lehman of course.) the killer is always a bet in both price and direction that is highly levered. Interest rates have already moved higher...the room for error is a lot less...especially given the lack of recovery five years into this thing. In other words "shorting treasuries pre-supposes a V shaped recovery." Where is it? Prices in fact are FALLING. And the Fed will taper? "Go for it" I say. Puerto Rico bonds at 12 percent? Bring it!

disabledvet's picture

what I have said has been shown to be empirically proven already btw. those who have predicted nothing...done nothing...have done best "market wise." those obviously who have made a point of disrupting the market place (Tesla, Amazon, Twitter, PXD, COG, EOG) have had truly outsized and staggering returns. The current crop are of course fuel cell tech (QTWW, Fuelcell, Ballard Power). all of this is now coming online as the USA quickly becomes the world's largest energy producer...but unlike Russia and Saudi Arabia uses that energy to produce higher value products and services and ultimately massive sales and income growth. the only thing missing so far is a sudden and massive move higher in the dollar "across the board." should such a 90's like event occur that will in my view cause a market correction. Big Oil which had all of us over a barrel during the Bush Years is now whining like a bunch of crybabies that "there's too much oil." that's a tell to me that the dollar is about to make a broad based move higher "and their peculiar institution" will get harmed. with war getting ramped up on three fronts (Northeast Asia, North Africa, Central Asia) there will be no shortage of bids for the "the war machine trade." with interest rates this low and spreads this high "the default dollar" remains intact.

macbone's picture

Interesting analysis. Thanks. I think you are wrong in that the cancer has now spread too far for there not to be some serious amputational events (to coin a phrase.) But there is a solid core foundation that can and will be saved from the deluge. You have done a good job of pointing out one island of solvency.

Rafferty's picture

Printing on this scale leads to massive misapplication of capital resources.  This simple has to have a neagive outcome but not necessarily by way of a sudden crash.

Drifter's picture

"Until the fed stops printing, It's all Bullshit!!!"

Yes, everyone predicting another '08 style crisis is wrong.  There won't be another one.  In '09 TPTB decided to play their hole card, currency printing.  It's their last "shot".  The end-game play.  They know it will destory the US dollar, but they have no other cards left to play. 

So no, the Fed won't stop printing.  Not even slow it down.  America will have its Weimar hyperinflation collapse.    

diesheepledie's picture

Time to harvest the sheeple. The sheeple are soft ... Easy food.

"The tiger began her attacks in a region of Nepal close to the Himalayas during the late 19th century, with people being ambushed by the dozen as they walked through the jungle. Hunters were sent in to kill the tiger, but she managed to evade them. Eventually, the Nepalese Army was called in. Despite failing to capture or kill the tiger, soldiers managed to force the tiger to abandon her territory and drive her across the border (river Sarda) into India, where she continued her killing activities in the Kumaon District. She eventually grew bolder, and began killing people in broad daylight and prowling around villages. Life across the region grew paralyzed, with men often refusing to leave their huts for work after hearing the tiger's roars from the forest.

In 1907, the tiger was killed by British hunter Jim Corbett. The tiger had killed a 16-year-old girl in the town of Champawat, and left a trail of blood and limbs, which Corbett followed. Corbett found the tiger and shot her dead the next day, a dramatic feat confirmed by about 300 villagers. A postmortem on the tigress showed the upper and lower canine teeth on the right side of her mouth were broken, the upper one in half, the lower one right down to the bone. This injury, according to Corbett, probably prevented her from hunting her natural prey."

The Champawat Tiger was a female Bengal tiger responsible for an estimated 430 deaths in Nepal and the Kumaon area of India  http://en.wikipedia.org/wiki/Champawat_Tiger

  

monkeyboy's picture

Well they *might* just get it right next year.

Croesus's picture

I've retired my crystal ball to the dusty corner of my coat closet, next to the pet rock. I've heard that "Next Year is The End", for years,  from all kinds of people, with all different perspectives.

They've have been wrong 100% of the time, and will probably be making the same calls next year, around now. 

 

 

economics9698's picture

The game goes on until inflation cannot be ignored.  The bankers know this.  Keep forcing people out of the job market, less paychecks, no inflation, the game goes on.

 

When that dynamic changes the game changes.

Bendromeda Strain's picture

They'll be wrong until they're not - and then all the mockers will be weepingly, pukingly wrong.

Kirk2NCC1701's picture

I could not agree more, and have made similar comments... Calling it "Doomsday Fatigue".

If I think about it, it makes perfect rational sense, if you think of Players who cater to Contrarians and specialize in Bear markets -- just like their polar opposites are always "Up" or perma-Bulls.

Each set of Players cater to their respective market segment (demographics), selling them products and services.

And as in any "gold rush", more millionaires are made selling picks & shovels (goods & services), than in finding the gold itself. Clever entrepreneurs know this, and know how to use it to their advantage.

No "conspiracy" model is needed, although plenty of 'conspiring' (colluding, collaboration) goes on. It's just the basics of human nature manifesting itself in a myriad of ways, but always driven by the same basics.
I've rediscovered that the planet will keep spinning and the sun will shine again, even when it's been raining or cloudy for a long time.

Happy planning, planting, building, harvesting, laughing, loving, living.