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Economic Implosion Will Lead to Stock Market at 5,000 by 2017 Forecaster Says (Video)
In the video below, Future Money Trends welcomes back Harry Dent, who was last on the show in August. in his previous interview, Dent made some predictions about the price of oil, and a slowdown in China, which are the starting point of the interview below. Back then, Dent said oil would drop below $30 per barrel, which it did, and maybe even below $10 or $20 per barrel, and he also predicted the massive slowdown of China. Since oil was a big focus of their interview last time, the interview begins with an updated forecast for oil, because oil has made somewhat of a rebound as of late. What I am about to say next, could be taken the wrong way, but please don’t, because it’s not intended to be an, “I told you so,” but rather an eye opener to show people they don’t need the “Wall Street” talking heads to tell them what’s coming and to begin making preparations for their families. This is just common sense if you turn off the TV!
As far back as January of 2015, in a post titled: Obama’s Economic ‘SURGE’ Built on TOTALLY Fabricated Data! – Prepare For End of the Dollar, I said the following:
IN THE LONG TERM, THESE LOW GAS PRICES ARE THE DEATH NAIL IN AMERICA’S COFFIN!
No thanks to Barack Obama, who has cut permits for domestic oil drilling down to just about zero, the U.S. has had tremendous success drilling for oil on private lands in places like North Dakota with a process called Fracking. Back then, when I said Fracking would be the end of us, people looked at me like I had 4 heads, but Harry Dent confirms EVERY single word I said below. The problem with $2.25 gas (the price at the time), or lower, was that all those fracking companies financed the building of their infrastructure and their operations with $TRILLIONS in bonds, but they did so assuming oil prices would remain at around $100 a barrel and continue to move north at a hefty rate. In January, oil dropped below $30, and it’s currently selling around $30 a barrel, a far cry from over $100.
As I said a year and a half ago, Saudi Arabia’s oil infrastructure has been around for decades, so they can get oil up and out of the ground for maybe 1/4 the price of the American fracking companies with all their brand new heavily financed equipment. At current prices, it won’t be long until NONE of the fracking operations can pay their investors, and then they’ll ALL go belly up. Presently the junk bonds are paying around 12%, and as Harry Dent confirms, fracking companies CANNOT survive. Why? Because they are high cost producers.
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Not only will Saudi Arabia continue to pump oil, thanks to Obama lifting the sanctions on Iran, but Iran will make up for the void in the global supply left when the fracking companies go belly up. So, neither cost nor supply will be affected hardly at all, but oil is just the beginning. With Central Bank policies of zero interest rates, and their ridiculous practice of Quantitative Easing (printing money out of thin air), they artificially inflated the greatest debt bubble in HUMAN HISTORY, and virtually EVERYTHING on the planet is set to burst when the bubble(s) finally go BOOM! Oil investors will be wiped out, the Dow stocks wiped out, tech stocks wiped out, the S&P gone, real estate prices will drop like a rock… TOTAL GLOBAL RESET, AS DR. JIM WILLIE, PETER SCHIFF, AND MICHAEL SNYDER HAVE BEEN WARNING! The following three posts are an EXCELLENT introduction to get your head around what is about to happen:
NEW: THE FOLLOWING TWO POSTS FEATURE BOTH PETER SCHIFF AND DR. JIM WILLIE:
Dr. Willie and Peter Schiff Together: Total Currency Collapse and Reset Coming
Peter Schiff and Dr. Jim Willie Warn Investors About Timing Fed Market Rally
ALSO DON’T MISS:
Jim Willie and How the Loss of the US Dollar as Reserve Currency Affects You Personally
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FOR MORE NEWS BY VOICE OF REASON CLICK HERE!
What government officials will FINALLY learn the hard way, along with all the people who thought there really was such thing as “free stuff,” is that there is NO SUCH THING AS A FREE LUNCH! The idea of printing our way to prosperity was asinine in the first place, and many of us have said so all along. The reason people believed politicians who promised “Free Stuff,” and the reason most people have NO CLUE the economic reset is coming is detailed in an article by Michael Snyder after the interview.
There is only one way out of the bubble, and that is to let it burst! There is no escape, and the end result is PRECISELY what people like Peter Schiff, Dr. Jim Willie, and Michael Snyder have been warning about for years. Since the US Dollar is the principal offender of printing money because it’s the World Reserve Currency, when the global economy finally collapses, and it will, The US Dollar Collapse and the Effect it Has, Will Be the Single Biggest Event In Human History. A GLOBAL RESET is coming, and some of us have been warning about it for the last few years. It is NOT avoidable, no matter who is elected, and no matter what country. It’s going to bring with it death and destruction. It’s time to WAKE UP, ignore the mainstream media that isn’t telling you because they don’t want to create a panic, and do what you can to protect YOUR family.
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Trend forecaster and demographic researcher Harry Dent says we are in a massive bubble. And as he explains in his latest interview with Future Money Trends, central banks around the world continue to fuel this bubble with unlimited fiat money printing.
The end result according to Dent?
The biggest bubble burst in history… and it’s coming soon.
There will be… and I will stake my entire reputation on this… we are going to see the biggest global bubble burst in history in the next four years…
There’s only one way out of this bubble and that is for it to burst… all this stuff is going to reset back to where it should be without all this endless debt, endless printed money, stimulus and zero interest rate policy.
Their only solution to this debt and financial asset bubbles is to create more debt and more financial asset bubbles… how can that possibly be the solution?
…
The Dow, I’m projecting, will hit 5,500 to 6,000 by late 2017… just in the next year and a half or so.
That’ll be most of the damage… then it will rally and there’ll be some aftershocks into 2020… my four cycles point down into early 2020 and then they start one after the other to turn up… I think the worst will be over by 2020, but the worst of that will be by the end of 2017.
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Ten years ago, a major Hollywood film entitled “Idiocracy” was released, and it was an excellent metaphor for what would happen to America over the course of the next decade. In the movie, an “average American” wakes up 500 years in the future only to discover that he is the most intelligent person by far in the “dumbed down” society that he suddenly finds himself in. Sadly, I truly believe that if people of average intellect from the 1950s and 1960s were transported to 2016, they would likely be considered mental giants compared to the rest of us. We have a country where criminals are being paid $1000 a month not to shoot people, and the highest paid public employee in more than half the states is a football coach. Hardly anyone takes time to read a book anymore, and yet the average American spends 302 minutes a day watching television. 75 percent of our young adults cannot find Israel on a map of the Middle East, but they sure know how to find smut on the Internet. It may be hard to believe, but there are more than 4 million adult websites on the Internet today, and they get more traffic than Netflix, Amazon and Twitter combined.
What in the world has happened to us? How is it possible that we have become so stupid? According to a brand new report that was recently released, almost 10 percent of our college graduates believe that Judge Judy is on the Supreme Court…
The American Council of Trustees and Alumni publishes occasional reports on what college students know.
Nearly 10 percent of the college graduates surveyed thought Judith Sheindlin, TV’s “Judge Judy,” is a member of the U.S. Supreme Court. Less than 20 percent of the college graduates knew the effect of the Emancipation Proclamation. More than a quarter of the college graduates did not know Franklin D. Roosevelt was president during World War II; one-third did not know he was the president who spearheaded the New Deal.
It can be tempting to laugh at numbers like these until you realize that survey after survey has come up with similar results.
Just consider what Newsweek found a few years ago…
When NEWSWEEK recently asked 1,000 U.S. citizens to take America’s official citizenship test, 29 percent couldn’t name the vice president. Seventy-three percent couldn’t correctly say why we fought the Cold War. Forty-four percent were unable to define the Bill of Rights. And 6 percent couldn’t even circle Independence Day on a calendar.
FOR MORE NEWS BY VOICE OF REASON CLICK HERE!
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Even worse were the extremely depressing results of a study conducted a few years ago by Common Core…
*Only 43 percent of all U.S. high school students knew that the Civil War was fought some time between 1850 and 1900.
*More than a quarter of all U.S. high school students thought that Christopher Columbus made his famous voyage across the Atlantic Ocean after the year 1750.
*Approximately a third of all U.S. high school students did not know that the Bill of Rights guarantees freedom of speech and freedom of religion.
*Only 60 percent of all U.S. students knew that World War I was fought some time between 1900 and 1950.
Of course survey results can be skewed, and much hinges on how the questions are asked.
However, even studies that are scientifically conducted confirm how stupid America has become. In fact, a report from the Educational Testing Service found that Americans are falling way behind much of the rest of the industrialized world. The following comes from CBS News…
Americans born after 1980 are lagging their peers in countries ranging from Australia to Estonia, according to a new report from researchers at the Educational Testing Service (ETS). The study looked at scores for literacy and numeracy from a test called the Program for the International Assessment of Adult Competencies, which tested the abilities of people in 22 countries.
The results are sobering, with dire implications for America. It hints that students may be falling behind not only in their early educational years but at the college level. Even though more Americans between the ages of 20 to 34 are achieving higher levels of education, they’re still falling behind their cohorts in other countries. In Japan, Finland and the Netherlands, young adults with only a high school degree scored on par with American Millennials holding four-year college degrees, the report said.
Out of 22 countries that were part of the study, the Educational Testing Service found that Americans were dead last in tech proficiency, dead last in numeracy and only two countries performed worse than us when it came to literacy proficiency…
Half of American Millennials score below the minimum standard of literacy proficiency. Only two countries scored worse by that measure: Italy (60 percent) and Spain (59 percent). The results were even worse for numeracy, with almost two-thirds of American Millennials failing to meet the minimum standard for understanding and working with numbers. That placed U.S. Millennials dead last for numeracy among the study’s 22 developed countries.
So why has this happened?
Why have we become such an extremely stupid nation?
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Well, at least a portion of the blame must be directed at our system of education. The following is an excerpt from an article written by reporter Mark Morford. In this article, he shared how one of his friends which had served for a very long time as a high school teacher in Oakland, California was considering moving out of the country when he retired due to the relentless “dumb-ification of the American brain”…
It’s gotten so bad that, as my friend nears retirement, he says he is very seriously considering moving out of the country so as to escape what he sees will be the surefire collapse of functioning American society in the next handful of years due to the absolutely irrefutable destruction, the shocking — and nearly hopeless — dumb-ification of the American brain. It is just that bad.
Now, you may think he’s merely a curmudgeon, a tired old teacher who stopped caring long ago. Not true. Teaching is his life. He says he loves his students, loves education and learning and watching young minds awaken. Problem is, he is seeing much less of it.
And of course things don’t get much better when it comes to our college students. In a previous article, I shared some statistics from USA Today about the rapidly declining state of college education in the United States…
-“After two years in college, 45% of students showed no significant gains in learning; after four years, 36% showed little change.”
-“Students also spent 50% less time studying compared with students a few decades ago”
-“35% of students report spending five or fewer hours per week studying alone.”
-“50% said they never took a class in a typical semester where they wrote more than 20 pages”
-“32% never took a course in a typical semester where they read more than 40 pages per week.”
I spent eight years studying at some of the finest public universities in the country, and I can tell you from personal experience that even our most challenging college courses have been pathetically dumbed down.
And at our “less than finest” public universities, the level of education can be something of a bad joke. In another previous article, I shared some examples of actual courses that have been taught at U.S. universities in recent years…
-“What If Harry Potter Is Real?”
-“Lady Gaga and the Sociology of Fame”
Could you imagine getting actual college credit for a course entitled “What If Harry Potter Is Real?”
This is why many of our college graduates can barely put two sentences together. They aren’t being challenged, and the quality of the education most of them are receiving is incredibly poor.
But even though they aren’t being challenged, students are taking longer to get through college than ever. Federal statistics reveal that only 36 percent of all full-time students receive a bachelor’s degree within four years, and only 77 percent of all full-time students have earned a bachelor’s degree by the end of six years.
Of course our system of education is not entirely to blame. The truth is that young Americans spend far more time consuming media than they do hitting the books, and what passes for “entertainment” these days is rapidly turning their brains to mush.
According to a report put out by Nielsen, this is how much time the average American spends consuming media on various devices each day…
Watching live television: 4 hours, 32 minutes
Watching time-shifted television: 30 minutes
Listening to the radio: 2 hours, 44 minutes
Using a smartphone: 1 hour, 33 minutes
Using Internet on a computer: 1 hour, 6 minutes
When you add it all up, the average American spends more than 10 hours a day plugged into some form of media.
And if you allow anyone to pump “programming” into your mind for 10 hours a day, it is going to have a dramatic impact.
In the end, I truly believe that we all greatly underestimate the influence that the mainstream media has on all of us. We willingly plug into “the Matrix” for endless hours, but then somehow we still expect “to think for ourselves”.
There are very few of us that can say that we have not been exposed to thousands upon thousands of hours of conditioning. And all of that garbage can make it very, very difficult to think clearly.
It is not because of a lack of input that we have become so stupid as a society. The big problem is what we are putting into our minds.
If we continue to put garbage in, we are going to continue to get garbage out, and that is the cold, hard reality of the matter.
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FOR MORE GREAT MATERIAL FROM JIM WILLIE:
Jim Willie: Chinese Replace US Swift Banking System, Hastening US Dollar Collapse
Dr. Jim Willie – Secret Meeting at the G20 to Take Down the US Dollar
Jim Willie and How the Loss of the US Dollar as Reserve Currency Affects You Personally
Dr. Jim Willie – Secret Meeting at the G20 to Take Down the US Dollar
Jim Willie and How the Loss of the US Dollar as Reserve Currency Affects You Personally
Dr. Jim Willie: Financial Deals Happening Behind Closed Doors; US Not Invited
Jim Willie: Putin, the Gulf Emirates, Iran, and Saudi Arabia Plan Death of US Dollar
Dr. Jim Willie: US Dollar is Being Surrounded By All Sides; It’s Tragically Comical
Dr. Jim Willie: We’re in the Bottom of the 9th; The US Dollar is Dying (2/28)
Dr. Jim Willie: Economic Collapse is On Our Doorstep
Jim Willie: “The Quickening” is Approaching Global Economic Markets
Jim Willie: When Deutsche Bank Fails, Barclays, Citigroup, and More Will Fall
Dr. Jim Willie and How To Simplify Your Finances To Survive Economic Collapse
Jim Willie: Global Banking Cabal and Their Satanic Rules Are Ready to Strike
Jim Willie: Both Our Allies and the American People Absolutely Hate Our Government
Jim Willie: U.S. Dollar is Now a Matter of National Security Due to Poor Decisions
Jim Willie: Armageddon Coming to U.S. With Trillions Exposed In Derivatives
Jim Willie, The Fed’s Week of Reckoning, and an Isolated United States
Jim Willie: After Banks Fail, Government Seizes IRA’s, 401k’s, and Pensions
Jim Willie, the Crumbling Global Economy, and the Dollar Crisis
FOR MORE GREAT MATERIAL FROM PETER SCHIFF:
Peter Schiff: Newest Recession Hiding in Plain View; American Dream Is Dead
Peter Schiff: Dollar Collapse Will Be the Single Biggest Event In Human History
Peter Schiff: Federal Reserve Only Delaying Total Financial Collapse of U.S. Economy
Peter Schiff: Obama “Peddling Fiction” As Unemployed Tops 100 Million People
Peter Schiff: Recovery Fantasy Persists Despite Recession Evidence
Peter Schiff: Here Comes the Great, Great, Great, Great Recession!
Peter Schiff: “Whatever Obama Was Calling Recovery… is OVER!”
CNBC Actually Admits Peter Schiff Was Right… Again (Video)
Peter Schiff: Due to the Feds Antics, the Market is Very Dangerous Now
Peter Schiff and “If The Economy Is Fine, Why Are So Many Large Retailers Imploding?”
Peter Schiff: Take a Good Look at the “New” American Dream!
Peter Schiff and Reagan Advisor: Complete Economic Collapse Immediately Ahead
Peter Schiff: Warning! Economic Storm Clouds Ready to Rain
Peter Schiff: Death of the US Dollar Is Imminent; Fed Out of Options
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