Oh, you want detailed predictions by experts?----------------------------------------------------------------------------------------------------

The Propaganda Machine in 2007-2008 meltdown
BusinessWeek, Kiplinger's and USA Today reported on the false predictions made before the 2008 subprime credit meltdown spread rapidly across America and the world:

•Bernanke: "I don't anticipate any serious [failures] among large internationally active banks."

•Ken Fisher: "This year will end in the plus column ... so keep buying."

•"Mad Money" Jim Cramer: "Bye-bye bear market, say hello to the bull."

•Goldman Sachs' Abby Joseph Cohen: "The fear priced into stocks is likely to abate as recession fears fade."

•Barney Frank: "Freddie Mac and Fannie Mae are fundamentally sound."

•Barron's: "Home prices about to bottom."

•Worth magazine: "Emerging markets are the global investors' safe haven."

•Kiplinger's: "Stock investors should beat the rush to the banks."

•Irving Fisher, Yale Ph.D. in economics: "Stock prices have reached what looks like a permanently high plateau. I do not feel there will be soon if ever a 50 or 60 point break from present levels, such as (bears) have predicted. I expect to see the stock market a good deal higher within a few months." (Oct. 17, 1929)

•Goodbody market-letter in New York Times: "We feel that fundamentally Wall Street is sound, and that for people who can afford to pay for them outright, good stocks are cheap at these prices." (Oct. 25, 1929)

•Business Week: "The Wall Street crash doesn't mean that there will be any general or serious business depression ... For six years American business has been diverting a substantial part of its attention, its energies and its resources on the speculative game... Now that irrelevant, alien and hazardous adventure is over. Business has come home again, back to its job, providentially unscathed, sound in wind and limb, financially stronger than ever before." (Nov. 2, 1929)

•Harvard Economic Society: "A serious depression seems improbable; [we expect] recovery of business next spring, with further improvement in the fall." (Nov. 10, 1929)

•Treasury Secretary Andrew W. Mellon: "I see nothing in the present situation that is either menacing or warrants pessimism ... I have every confidence that there will be a revival of activity in the spring, and that during this coming year the country will make steady progress." (Dec. 31, 1929)

•President Herbert Hoover: "The depression is over." (June 1930)