The sun will burn out and all life on Earth will be extinguished. This is where we are headed and thus this is the current trend. I will stake my life on this being correct in all respects. I won't tell you when life on Earth will be extinguished, but take my word for it. It will happen. This is the trend! I am 100% correct always. Pay me. I am a genius.
When will this happen? Celente has modeled predictions that have come true within specific time frames, many times.
This is easily the stupidest clip I've seen on fox. And Elite Trader really is full of anti-intellectual, tin foil hat wearing morons. There are some bright posters, but jeez...how could you even acknowledge something like this? This guy is so hysterical and uneducated in his reasoning it's just funny. Gotta love the hyperbole: "print money based on nothing producing nothing." Uh, the U.S. still has the best institutions, most developed capital markets, and strongest corporate legal infrastructure in the world. We are still the largest economy in the world. Our govt. borrowing is simply offsetting the massive reduction in private borrowing. Without stimulus unemployment would be even higher; if anything, higher than expected job loss indicates a need for more stimulus, not that stimulus caused job loss. The negative effects of Keynesian policy are felt in the long run. Sure, terminal growth rates may decline slightly, interest rates will be a little higher, and our currency will decline. But not to the extremes these nutjobs are talking about.
Yeah I think the movie is going to suck also <object width="560" height="340"><param name="movie" value="http://www.youtube.com/v/Hz86TsGx3fc&hl=en&fs=1&"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/Hz86TsGx3fc&hl=en&fs=1&" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="560" height="340"></embed></object>
While others are predicting recession and then slow recovery, this gentleman is pointing out to OUTRIGHT BOTTOM FALLING OUT on the US and Global economic engines. This is spooky stuff. He points out to alternative energy as the growth sector but then what is the use of energy when industries and factories are idle and people do not have money to create demand. Buy Gold Gerald?
The 2nd Great American Depression draws nearer. Many of you are still in denial. What do you think your grandparents or great grandparents lived through? It's not as unlikely as you think, and it's the sort of thing you slide into, rather than being a pane of glass that you fall through, making a giant crashing sound with shards of glass falling all around you. When we're finally there, you will know it, and after the fact, everyone will be scratching their heads wondering why they didn't see it coming and in amazement at 'how fast' it crept up on them. The seeds have been planted, and the roots are quite hardy. These are green chutes of an entirely different variety. Bring some gloves because things are about to get prickly.
Left out the predictions that didn't come true. (from wikipedia about this guy) In a September 2000 Parade magazine profile by Michael Ryan, Celente was quoted as saying, "We're not going to have significant inflation or recession for the foreseeable future." At the end of 2005 he claimed the next year would see a popular movement for some US states to secede. No such movement emerged, and a year later instead he predicted a trend toward "civility" and "healing" in the country. He predicted that in 1994 a major trend of rising "ubiquitous" crime in US cities would begin. Instead, according to FBI figures, US violent crime rates declined every year for a decade and property crime diminished to levels well below that in 1993, when he made that prediction. In 1997 he said that 1998 would see a "mad cow" stock market of unprecedented volatility and ultimately a large negative correction. The 1998 market was indeed more volatile than in immediately prior years, but it was hardly on an unprecedented scale and the year in fact enjoyed substantial net gains on indexes such as the S&P 500, which rose by almost 27%, in contrast to the 25% to 35% drop he envisioned. For 2006 he said that US exports would suffer due to negative publicity resulting from Hurricane Katrina. However, exports of all goods, and specifically of consumer products, which presumably would be most affected given his reasoning, increased by roughly the same real-dollar amount in 2006 as they had in 2005. In 1992, at a time when trade reforms were much in the news, he claimed there would be a "another Great Depression" due to trade barriers and protectionism. By late 2001, Celente opined that there was greater than a 50% chance of a massive international depression chiefly due to excess production, although ironically also the presence of markets relatively free of trade restrictions. -------- Another bullshit artist.
"...1998 would see a "mad cow" stock market of unprecedented volatility and ultimately a large negative correction" That was Russia (1998) and LTCM's trillion dollar derivatives collapse, averted by the Fed and its friends holding their noses to paper it over. Wikipedia is a checkered source and not even a reliable source to itself.