(Gerald Celente video interview follows my comments below)
Gerald Celente appears on the Glen Beck shows, February 10, 2009 to discuss the ‘economic apocalypse.’
Glen Beck: We’re living in an extraordinary time as a globe right now, are we not?
Gerald Celente: Like nothing we’ve ever seen in our lifetime or I would say anyone’s life time.
Beck: Why do you say that?
Celente: We’re looking at the collapse of ’09. We’re going to start seeing the retail sector collapse. We’ve already seen it from retail sales in 2008. And now we’re going to see it in 2009. a lot of empty stores. A lot of vacancies. And also the commercial sector of real estate as well. It’s way overbuilt and it’s going to be a collapse worse than the preceding one.
We’ve discussed this in previous articles including The Body Count is Rising: Job Cuts Continue and Commercial Real Estate Under Threat – The Next Bubble at Critical Mass. This is a serious mess, and for those that thought the sub-prime mess was bad, now imagine what commercial real estate defaults will do to Citi, Bank of America, and even Wells Fargo, who has thus far looked like a Prince in the banking sector. Commercial real estate and its affects on the financial sector is going to lead the coming destruction of our stock market.
Beck: Is there anyway to spend our way to make it better?
Celente: You have to produce your way out of problems. This is economics for dummies. You can’t print money based on nothing and expect it to fix the problem.
This mirrors the warnings that Peter Schiff Â has given us for the last several years. Our new “stimulus” plan will not stimulate — it will only spend more money we don’t have.
Celente: If you follow the leaders, you’re going to fail. We’re going into this — you better learn how to fight for your survival in intelligent ways. We’re going into the Greatest depression, it’s going to be worse than the ’29 depression.
[In 1929] we had budget surplusses, not 10.5 Trillion in the hole. We had a manufacturing base to produce our way out of this. For these politicians to bring up the 1930’s, it’s moronic. when i look at people looking to Washington to solve the problem, show me one, one program that they could say ‘look at the great job that we did’.
there is not one thing the government can do to solve this problem. They don’t have the intelligence, they don’t have the methodology.
It can’t be any clearer than what Gerald Celente is saying. Yes, the government says they will fix this. Yes, the mainstream media echoes their confidence. But imagine for a minute…. that they are wrong. What if the SHTF as Gerald Celente and Glen Beck forecast?
Watch the Gerald Celente Interview with Glen Beck: