Sunday, January 25, 2009
Highlights of Alex Jones internet radio show with Bob Chapman.
The USA is now entering a depression.
Dow target 4000. (No time frame given.)
As a result of market losses (13-15 trillion) this month alone pension funds will lose value and many companies will cut benefits or just do away with them as a way to stay solvent. Three years ago companies started the process of doing away with pensions and the trend is accelerating. Look for pension benefits to be cut by 50 to 75% eventually.
New regulations will be discussed starting next week or the following week in the USA, about setting up a new international private bank to dump all the toxic debt into, to take it "off of the books". This is a mask for setting up more of the international banking structure to regulate all currencies internationally within 1 to 2 years. After the international structure is complete, all world currencies will be devalued simultaneously to bring out a new world reserve currency.
As a result the US dollar will plunge substantially further over the next two years.
California. First Centennial Bank taken over by state regulators January 24. There are over 100 US banks close to bankruptcy in US.
Four countries in Europe on the verge of bankruptcy.
Foreclosure rate is skyrocketing, being under-reported by the media. Last month over 2.3 million properties got a default or auction notice.
Current real rate of unemployment is 10.5%. Real unemployment rate will be 20-25% by the end of this year. Look for the real rate of unemployment to top 30% in 2010.
If events continue to unfold as above look for rioting to start occurring (due to high unemployment) within two years.