Gerald Celente discusses the recent GDP numbers on Russia Today Ocober 31, 2009.
â€œThe GDP rise is a result of the trillions of dollars â€“ between the Bush administrationâ€™s TARP program and President Obamaâ€™s $787 billion stimulus package â€“ temporarily juicing the economy. The deficits aren’t going away. They’re up to 11.5 Trillion. They are printing phantom money backed by nothing and it’s producing practically nothing. This is only a temporary uplift.“
To astute observers looking at the real fundamentals like upcoming mortgage defaults, foreclosures, unemployment, consumer spending, credit contraction, goods transportation, and government debt, Gerald Celente’s assessment could not be any more clear. The is a temporary uplift, and whether it lasts a couple months or a couple years makes no difference in the long run. This will end in disaster, plain and simple.
It’s not going to get worse before it gets better. It’s going to get worse, and then it’s going to get worser [sic], and then it’s even going to get worse than that. And there’s no reason why it should improve.
Prepare for the worst, folks, because it’s going to hit like a tsunami. We’ve had the underwater earthquake, the energy wave is en route and what we are experiencing now is the tsunami drawback. By the time it hits the shores, it will be too late. This is the time to prepare and seek safety.
Watch Gerald Celente on RT (Video 1 of 2):
Here’s an additional clip of this Gerald Celente Interview (Video 2 of 2)