Trend Forecaster Gerald Celente joins James Corbett of Corbett Report on October 19, 2009 to discuss Green Shoots and trends to expect in the next phase of the economic crisis.
(video interview follows excerpts and commentary)
James Corbett: Do you think that perhaps we have entered a new economic order and if so, what form does that take and what will it look like for the average person?
Gerald Celente: First of all on the jobless recovery, that’s like saying almost pregnant. There’s no such thing. What they’re looking at are the profits on Wall Street and they’re calling that recovery. So as far as the new economic order, yeah there’s a new economic order. It’s called the Greatest Depression and we’re already in it.
The markets collapsed back in March of 2009 and the only thing that they’ve done is papered it up with fake money. So the reality is for the average man on the street, the quality of life is going to continue to decline, particularly as they take money away from the average tax payer and keep feeding it to the too-big-to-fails so they can keep being propped up.
We’re looking at a very long down turn. And as I said, we already are in the Greatest Depression. It’s a cover-up and it’s been papered over with fake money.
Corbett: What do you see developing specifically in the economic sphere over the next year?
Celente: We’re going to see a financial crisis that’s already beginning and it’s going to be the currency crisis as we’re seeing with the dollar. And what should be understood is this is going to impact the entire world. A giant is falling. The American empire. This is bigger than just an economic collapse. So we’re going to see this ripple through worldwide. China’s not going to escape it. No country is.
Green shoots? Gerald Celente doesn’t think so. All the signs, unless you’re only following theÂ mainstream media, point to a serious collapse not just in our economic system, but our political and social structures as well.
This is not a typical recession, folks. This is the largest credit collapse in the history of the world, and it should not be underestimated. We’ll leave you with another Gerald Celente quote from this interview:
“The worst is yet to come.“