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Thread: Asian financial Predictions: End of the World?

  1. #46
    Pretty Like Girl Array WilliamBlake's Avatar
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    Quote Originally Posted by tomcat View Post
    ...who?...
    That'd be Trev.
    This space for rent.

  2. #47
    Olive Brancher (*) Array
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    Quote Originally Posted by trevsfriendbruce View Post
    Some experts think that by 2013 the US will have:

    50% unemployment
    90% stockmarket collapse
    100% annual inflation
    That sounds like bullshit.

  3. #48
    New Member Array trevsfriendbruce's Avatar
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    ...economist and best-selling author Robert Wiedemer

  4. #49
    Senior Member Array tomcat's Avatar
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    ...a little more about this expert:

    By Brendan Coffey (FORTUNE) -- Want to make money in this market? Just predict the market is just going to get much, much worse. At least that's the very profitable tack the writers of a doom-and-gloom tome, Aftershock: Protect Yourself and Profit in the Next Global Financial Meltdown are taking. The three co-authors, brothers David and Robert Wiedemer, and Cindy Spitzer, are raking in a multimillion-dollar payday by advising people to sell their homes now, cash out their life insurance policies, and dump their stocks ahead of what they predict will be 50% unemployment, a 90% stock market crash, and 100% annual inflation.

    In a nutshell, Aftershock argues that a succession of bubbles have set the country on the path to ruin. First came the dotcom bubble, then the housing bubble. Now Federal Reserve market "manipulation" and the "incredible irresponsibility and bad judgment of the public sector" -- i.e. the U.S. government -- make banana republic inflation levels inevitable starting in 2012. Their advice: Sell everything, and pile into gold and inflation-linked securities.

    Aftershock, now in its second edition, has spent the past month in the top five selling business books on Amazon.com (AMZN). It is the basis for a massive publicity campaign for right-leaning media outfit Newsmax, and it provides fodder for talking heads on CNN, Fox, and CNBC. All that has been good for sales -- publisher John Wiley & Sons says 200,000 copies are now in print.

    But the $800,000 or so in book royalties the authors may receive (based on a standard 15% cover price royalty rate) pales in comparison to the trio's ancillary businesses: David Wiedemer told me the book is responsible for $100 million in assets flowing into Absolute Investment Management, a Bethesda, Md.-based money manager with whom the brothers partnered and where they are now managing directors. On top of that, 1,000 people have paid an annual fee of $399 to receive the Wiedemers' investment advice, a number that is growing faster as more people read the book. (Periodic exhortations to subscribe and invest with them pepper the chapters.)

    Five winners of the debt ceiling crisis

    Now the brothers are branching out. Next up is a follow-up book , the Aftershock Investment Guide, due out next spring. Robert has a consulting deal with Newsmax, which is giving away copies of Aftershock to entice its own readers to subscribe to its own investment newsletters. The West Palm Beach, Fla.-based publisher claims one million people watched a recent "Aftershock Survival Summit" it hosted and publicized a few weeks ago with a full-page Wall Street Journal ad. In the video of the summit, Robert enunciates dire predictions between shots of Obama and elderly people wearing janitor and fast food uniforms. David is thinking bigger. "I'd really like to do a mutual fund," he says.

    But the Wiedemers seem less ideologues than two guys who finally found a bubble they can make money from. Before the success of their book, the brothers' day jobs were heavily dependent on government largesse: They still run the Business Valuation Center, a Reston, Va.-based outfit that the Small Business Administration has paid $1.98 million since 2006 to provide financial valuations of potential grant recipients. But David says the asset management business is so successful they are "sort of phasing that down."


    Robert Wiedemer

    Before consulting for the government, Robert, who has an MBA in marketing from the University of Wisconsin-Madison, tried his hand running Pricesaroundtheworld.com, a dotcom-era bust. (The experience may be the source of the scorn Aftershock heaps upon Internet-era "Bubble babies" executives.) For the past eight years, he has been on the board of Proxim Wireless, a bulletin board-traded communications firm that in 2004 ill-advisedly scooped up the carcass of Ricochet, a 1990s Paul Allen effort to bring Wi-Fi to cities.

    Also in the 1990s, the brothers co-founded and ran Imark Technologies, the unnamed "Nasdaq-listed company" in which David's book biography mentions he was CEO. The bio fails to note that Imark, which provided CD-Rom resources to publishing companies, went bankrupt in 1998 when a business plan to get publishers to sell CD-Rom data over the Internet foundered.
    ...majestically enthroned amid the vulgar herd...

  5. #50
    dis member Array zeusbheld's Avatar
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    Quote Originally Posted by trevsfriendbruce View Post
    ..economist and best-selling author Robert Wiedemer
    it's better idea, when arguing from authority (which in itself isn't a such a great idea), to name the authority up front. rather than "experts say," "economist Robert Wiedemer says" would have generated less mistrust. at least if people size up your expert and don't trust his expertise, they won't approach your post like you tried to hoodwink them.
    Imodium can't stop me.

  6. #51
    Senior Member Array tomcat's Avatar
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    ...^insightful advice from a seasoned poster...are you listening papa?

  7. #52
    New Member Array trevsfriendbruce's Avatar
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    Quote Originally Posted by tomcat View Post
    ...a little more about this expert:
    Good post TC...however although what he says is extreme...and his motives are questionable for sure...there is a big mess brewing...and some of the things that he has predicted are already happening...such as that governments and corporations will have to raise more cash to survive...that can only come from increased taxes and reduced wages

    ---Update---

    Quote Originally Posted by tomcat View Post
    insightful advice from a seasoned poster
    I have been reading some of his earlier posts on this thread...doesn't seem to fit with that description

  8. #53
    Senior Member Array tomcat's Avatar
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    Quote Originally Posted by trevsfriendbruce View Post
    corporations will have to raise more cash to survive
    ...a CNBC report last week noted that major US corporations are sitting on bundles of cash (for a variety of reasons) and that is slowing up the M&A market...

  9. #54
    New Member Array trevsfriendbruce's Avatar
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    Quote Originally Posted by tomcat View Post
    Originally Posted by trevsfriendbruce
    corporations will have to raise more cash to survive
    ...a CNBC report last week noted that major US corporations are sitting on bundles of cash (for a variety of reasons) and that is slowing up the M&A market...
    That would be correct...and where is it coming from...reduced wages and payments to subcontractors?...sounds like they are taking his advice

  10. #55
    dis member Array zeusbheld's Avatar
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    Quote Originally Posted by trevsfriendbruce View Post
    I have been reading some of his earlier posts on this thread...doesn't seem to fit with that description
    then feel free to carry on with your current technique, it's obviously working out well for you so far.

  11. #56
    New Member Array trevsfriendbruce's Avatar
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    Quote Originally Posted by zeusbheld View Post
    then feel free to carry on with your current technique, it's obviously working out well for you so far.
    Thank you

  12. #57
    dis member Array zeusbheld's Avatar
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    Quote Originally Posted by trevsfriendbruce View Post
    Thank you
    you're welcome

  13. #58
    Senior Member Array kiwiling's Avatar
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    Quote Originally Posted by zeusbheld View Post
    you're welcome
    You think he meant it?

    ---Update---

    Quote Originally Posted by tomcat View Post
    ...a CNBC report last week noted that major US corporations are sitting on bundles of cash (for a variety of reasons) and that is slowing up the M&A market...
    Which cash? Not the USD???

  14. #59
    Senior Member Array tomcat's Avatar
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    ...yes, the report referred to US companies hoarding USD...

  15. #60
    Senior Member Array kiwiling's Avatar
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    Quote Originally Posted by tomcat View Post
    ...yes, the report referred to US companies hoarding USD...
    Very interesting TC...I cannot understand why anybody would hoard a currency made of lead...but that is probably why I am only a TEFler

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