Showing posts from September, 2011

Bernie Marcus Calls Dodd-Frank "Bonnie and Clyde" for Destroying Small Community Banks

Speaking on CNBC's Squawk Box, Bernie Marcus, co-founder of The Home Depot, blasts the regulations coming from the Dodd-Frank Act as "Bonnie and Clyde" because they are going to destroy small community banks. In the process, there will be no loans made to potential start-ups and the source of future jobs creation will be lost.

Harry Dent Sees Dow Crash to 3,000 in 2013

Harry Dent, founder and CEO of HS Dent, is author of a new book, The Great Crash Ahead. He sees an economic and market crash between 2012 to 2014. As baby boomers pay down a sizable chunk of $42 trillion in private debt in the United States to deleverage, this will be an ever growing deflationary force. Baby boomers around the world will start saving and stop driving up consumption. Because of this deleveraging, Dent warns that a debt crisis is coming back stronger than ever.
Dent does not believe that efforts of central banks to inflate and provide stimulus to the economic to counteract this trend will fail. "In the United States, we keep taking viagra and nothing much happens." He predicts gold will crash after rising to $2,000. Silver has already peaked, Dent said. The U.S. dollar's role as the safe haven currency will be strengthened. That is because, as private debt is paid off, it makes dollars more scarce, and it restores value to the dollar, he explains.