David Rosenberg declares Economic Depression!

It looks like Gerald Celente was right, again. He's been going on radio shows across the country claiming that be the time the clock strikes 2011, everyone will know that we are in a depression. A couple of weeks ago, motivational speaker and infomerical icon Tony Robbins (aka. Mr. Positive) released a two part video warning Americans that the economy could take a turn for the worse. He claims that he has connections with some very successful people in finance who are warning him that things could get worse. You know it's bad when Mr. Positive is warning you about the economy.

And of course, liberal economists Paul Krugman finally admitted that the economy is entering a depression. Krugman is till convinced that Obama's stimulus package wasn't big enough. That's like saying you didn't pour enough gasoline on the burning house. Pure foolish.

Now, David Rosenberg, Chief Economist at Gluskin Sheff & Associates sounding the alarm on CNBC. In a nutshell, Rosenberg points out the fact that the government attempts to rescue the housing market have failed, mortgage rates aren't helping, the stimulus has failed and we're not in a recession. This is a depression.

And that was on CNBC.

So after the mainstream media trashed Celente for calling this a depression, they've finally come around to admitting that this is a depression. in Rosenberg's defense, he was never among the 'recovery' crowd.

You can watch all of these videos right here on my blog. Enjoy!