Trend forecaster Gerald Celente, who warned investors of the collapse of 2008 just weeks before the markets buckled, has issued a new recession warning for 2018 in his latest interview with Greg Hunter of USA Watchdog. But this time, says Celente, it’s going to be a different kind of scenario:
All the investment is at the top… and the top is the one that’s going to fall… and when they fall, the bottom will feel it but more psychologically than in their pocket… be cause it’s the “Bigs” that are going to fall…
You look at the tops in the condominium market, in the housing market with houses over $1.5 million… that market is slowing down dramatically… you go into the rich retail sectors around the country… Chicago, New York, San Francisco… you see a lot of For Rent signs… because the big multinationals that used to be there that are no longer making the money at the top that they were, are closing down… the rents are so high that they can’t fill them up with the average retailer… so we’re seeing the pressure from the top falling already…
We’re calling this a “Stage 1 Recession.”
That’s our top trend for 2018… we’ve never seen one like this before… so it’s going to start melting down from the top.
How far down will it go?
We’re looking for a 10% correction in the markets… we’re not looking for a crash at this point… it depends how far it melts.