- KINGSTON, NY, 2, March 2009
- "The Greatest Depression" that The Trends Research Institute
forecast, well before Wall Street or Washington would acknowledge recession,
is upon us.
- The global financial markets are collapsing.
- All the pundit's cautious predictions and business media's
hopeful expectations at the New Year for an economic turn around and imminent
market bottom were dead wrong. There will be no turn around
in the second quarter of 2009 or 2010 or 2011 America and much of the
world has entered "The Greatest Depression."
- The global financial system, built on endless supplies
of cheap money, rampant speculation, fraud, greed, and delusion is terminally
ill and will not be coaxed into remission by stimulus packages nor restored
to health by government buyouts and bailouts.
- Today, the MSCI World Index of stocks in 23 developed
nations fell 4.9 percent to 713.75, the lowest closing level since March
2003, and its Emerging Markets Index slid 5 percent. The Dow
followed, plunging 300 points, closing below 7,000 for the first time since
- There is no stock market bottom in sight. The
only figure that can be forecast with confidence is that the Dow won't
- As the crisis worsens, governments will take draconian
measures to prevent total economic collapse and public panic. We
have cautioned the likelihood of such measures before. But the
rapidity and severity of the economic unraveling now demands immediate
- Expect massive bank failures, runs on banks, and bank
holidays. Even if deposits are FDIC insured, quick access to
money is by no means assured. At minimum, have reserves on hand
- Trendpost: When the ship is sinking there are very few
options: Life boats, life rafts, life preservers and for the late to act,
possibly a few pieces of floating debris to cling to.
- We are trend forecasters, not certified financial advisors
legally empowered to provide such advice. Although gold prices
declined today some $15 to $925 per ounce, we forecast that gold will be
one of the few life saving investments that will continue to increase in
value, reaching $2,000 per ounce and beyond.
- The Trends Research Institute
- 845.331.3500 Ext. 1
- © MMIX The Trends Research Institute®
- Trends Research | P.O. Box 660 | Rhinebeck, NY 12572