Gerald Celente, founder of the Trends Research Institute, joins Tony Cruise July 27, 2010.
Economically, Ben Bernanke, the Fed Chairman, came out and said it’s unusually uncertain. How could you come out with a stupid statement like that. Who says that in real life. I mean really, what individual, if you’re talking to someone, says it’s “unusually uncertain”. Only the white shoe boys get away with that kind of lingo.
That means things are going to get really bad. And they know it.
This is not recovery. If you look at the numbers. Look at the real estate numbers. Look at the unemployment numbers. The stimulus money is running out and the economy is going to decline. By the time the clock hits 2011 we are saying the crash of 2010 will have happened. Everyone will recognize there was no recovery, it was a cover-up of digital money printed out of thing air, backed by nothing and producing nothing.
Celente has long forecast a crash for 2010, and if recent GDP statistics, unemployment and real estate values and mortgage delinquencies are any guide, he may be right on target.
We will not see just a collapse in the US stock market. When Celente talks about a crash, he is talking about pretty much everything. We’re going to see more people lose their jobs. We’re going to see less consumer spending. Delinquencies and mortgages are going to accelerate.
All of this will lead to a literal “crash” in gross domestic product, and more than likely, the stock market as well. Following these crashes, one could argue that we’ll also see a crash in society, meaning that we’ll experience higher crime rates, overcrowded classrooms, cuts in essential services and government administration, as well as a severe decline in the optimism and mental well being of people in general due to increased stress, anxiety and depression.
All of this will happen and there’s not a damn thing any politician in Washington or bureaucrat at the Federal Reserve and Treasury Department can do about it. Our dear leaders are going to carry on the charade as long as possible, but they, like you, know what’s coming.
Listen to the full Gerald Celente interview:
Also check out Gerald Celente’s July 21, 2010 Trends In the News Update: