Forecaster Gerald Celente: 'There Is No Economic Recovery'

In this video clip, James Corbert of thecorbertreport.com interviews Gerald Clemete of TrensReseach.com on the lie of the U.S. economic landscape. “There is no economic recovery - it’s a cover-up,” says Celente.

The following on Celente via Wikipedia:

Gerald Celente (born November 29, 1946) is a United States trend forecaster, publisher of the Trends Journal, business consultant and author who makes predictions about the global financial markets and other events of historical importance. Celente has described himself as a “political atheist” and “citizen of the world.”

An article in the Washington Times has claimed “Celente’s accurate forecasts include the 1987 stock market crash, the collapse of the Soviet Union in 1991, the 1997 Asian currency crash” and “the 2007 subprime mortgage scandal.” His forecasts since 1993 have included predictions about terrorism, economic collapses and war. More recent forecasts involve fascism in the United States, food riots and tax revolts. Celente has long predicted global anti-Americanism, a failing economy and immigration woes in the US. In December 2007 Celente wrote, “Failing banks, busted brokerages, toppled corporate giants, bankrupt cities, states in default, foreign creditors cashing out of US securities … whatever the spark, the stage is set for panic in the streets” and “Just as the Twin Towers collapsed from the top down, so too will the U.S. economy … when the giant firms fall, they’ll crush the man on the street.” He has also predicted tax revolts. In November 2008 Celente appeared on Fox Business Network and predicted economic depression, tax rebellions and food riots in the United States by 2012. Celente also predicted an “economic 9/11″ and a “panic of 2008.”

In 2009 Celente predicted turmoil which he described as “Obamageddon” and he was a popular guest on conservative cable-TV shows such as Fox News Sunday and Glenn Beck’s tv program. In April 2009 Celente wrote, “Wall Street controls our financial lives; the media manipulates our minds. These systems cannot be changed from within. There is no alternative. Without a revolution, these institutions will bankrupt the country, keep fighting failed wars, start new ones, and hold us in perpetual intellectual subjugation.” He appeared on the Fox/Glenn Beck show and criticized the U.S. stimulus plan, calling government controlled capitalism “fascism” and saying shopping malls in the US would become “ghost malls.”

Celente has said, “smaller communities, the smaller groups, the smaller states, the more self-sustaining communities, will ‘weather the crisis in style’ as big cities and hypertrophic suburbias descend into misery and conflict,” and forecasts “a downsizing of America.”

Source: EclippTV, October 19, 2009.

Comments

[User 353732:]

At least 3 kinds of revolution are possible:
1. A Constitutional Revolution where a new Jefferson leads the Middle class into a massive , mostly peaceful, reform and regeneration of Civil Society and the major institutions of American politics, finance and communications. It seems unlikely that the Bosses will allow this to succeed even if there is a brief spring of hope and reprieve.

2. A mostly bloodless Totalitarian Revolution where a US Stalin or Mao,in a designer suit and expensive haircut, backed by most the elites and a majority of the Lower Class takes current political, social and economic trends to their culmination and the rule of men replaces the rule of law. The chances for this are much greater than for a Constitutional Revolution......depends on the American Military willing to be passive.

3. A sustained and national Civil Disobedience Revolution by the Middle Class against both the Upper and Lower classes where illegitimate and unjust civil law is superseded by moral and natural law. The Regime will use judicial, penal, municipal and police violence and choreographed mob riots to destroy the revolutionaries and their supporters. However, the American Military is unlikely to countenance this for long(the officer corps is almost entirely Middle Class and most have traditional values of "life, liberty and the pursuit of happiness" and an all volunteer military ,by definition, is self selecting in terms of its beliefs and behavior). In a decisive and violent confrontation between the Middle class and the Regime plus Lower Class, the Military may remain neutral or come to the rescue of the Middle Class i.e.. family , friends and small towns. The chances for this are at least as good as for the Stalinist Revolution.

Oct 26 10:08 AM

[Steve in TN:]

Definition of the Modern Balanced Portfolio:
Pre-2008: Stocks, Bonds, Commodities, and Real Estate
Post-2008: Gold, Silver, Food and a 9 mm Glock.

Oct 26 10:20 AM

[TeresaE:]

Every day it becomes more apparent, the economy IS the government.

This facade will fall, and the ugliness beneath will be unleashed, once the check-kiting scheme with the Fed/Treasury implodes. And don't ALL check-kiting schemes implode eventually? Anyone here EVER know of one that did not end badly?

Anyway, as long as the government is gifting bread to the masses, while ignoring the FACT that a huge percentage of our economy is now illegal, underground and untaxed, this farce will continue on.

I once read a statistic that chilled me to the bone, here it is for you: there is only 3 days of food available in your local stores/restaurants.

Now, apply said stat to reality. Most Americans can't cook from scratch, most Americans have zero savings and no food in the cupboard on the day before payday, 1 in 6 are in poverty and probably on food stamps, 1 in 10 are incarcerated.

Anyone else care to wonder what will happen if a temporary disruption (or outright collapse) stops the food stamps, disability checks or trucking for 7 days?

Oct 26 10:28 AM

[Fabien Hug:]

I don't think a revolution is in the cards. Unless mothers see their children starving and even (look at Somalia). People don't like conflicts and hope for the best, until it's too late (look at Jewish people during WWII).

Oct 26 10:31 AM

[jerrydd:]

Why is he blaming Obama? He's just cleaning up the mess people like you voted in.

Dems are for a balanced budget and better rugulation but so far repubs have blocked it at every turn. You want a better gov, call your congresspeople and vote for moderates who actually care about our country.

Oct 26 10:40 AM

[kebu77:]

chris coonan said, "a major earthquake hits California, or worse, it will be the end of the economy as we know it, even as bad as it already is."

Another San Francisco earthquake or another Katrina are white swan events.

While you're at it, at least you could pick a black swan event, like a large portion of the Canary Islands Cumbre Vieja volcano, above the water line, breaking loose during the next eruption and causing a sunami that floods the entire east coast of the U.S. 10 miles inland. Forty million people evacuate in eight hours (if we get the news timely) or die trying (more likely). Game over, end of empire. We can hope the computer guys were backing up our data someplace high and dry...

But wait... if you can identify it as a possibility, does it then turn white...

Oct 26 02:06 PM

[John Galt:]

> Celente has said, “smaller communities, the smaller groups, the smaller states, the more self-sustaining communities, will ‘weather the crisis in style’ as big cities and hypertrophic suburbias descend into misery and conflict,”

Except President Hope & Change spent nearly 1 trillion dollars on a "stimulus plan" that isn't really a stimulus plan. It was a giant state bailout scheme that bought 1 more year so that states wouldn't have to make the touch choices.

I forced fiscally responsible citizens of the South & Midwest, to bail out the state budgets of the NY's, CA's, NJ's and Michigan's of America that they don't want to be like.

The very people that voted against "hope and change" have to fork their money over to the blue voters in the New Jersey's of the world...

The media has been quiet about this transfer of wealth from the red states to the blue states...

Oct 26 02:33 PM

[Mark Bern:]

I suspect that there will be more of a "quiet revolution." One that includes millions of taxpayers who decide they just won't pay for the follies of government anymore. If we have another huge stimulus bill in 2010, the health care bill passes, a new VAT tax bill, and a cap and trade bill will push some of us over the edge. When people lose their jobs and their homes, they no longer pay taxes. They collect benefits and federal aid in many forms. Those who remain employed, especially small business owners, may just decide enough is enough. We're not paying for bigger government to regulate us out of business so their good buddies in mega corporations can increase market share. The IRS could become impotent if millions of Americans just said "NO!" to paying their taxes. If things get bad enough and the government continues with its print more money answer to everything, anything is possible.

I am not advocating a tax revolt. I want to make that perfectly clear. I just see this as a possibility. If a movement to withhold taxes took hold, tens of millions of Americans could join. Only those who are due a refund would file tax returns. How would a government deal with that?

Oct 26 03:10 PM

[thiazole:]

You guys realize that Gerald Celente isn't any kind of expert on anything, right? He is nothing more than a glorified quasi-psychic. Do a little research on this guy before making yourselves look foolish by championing him simply because he agrees with your doom and gloom outlook.

Oct 26 03:10 PM

[enigmaman:]

I agree but you wont see a tax revolt but they will vote with their pocket books and wallets keeping closed, a stealth indirect form of starving the government of the tax revenues they require. The economy falters more people lose jobs, less tax revenue is generated, more tax increases are approved, less tax is paid until the system collapses and we have to start over. Unless DC gets their act together and their heads on right this will be the way main street takes down DC, "If Im going down your coming with me"


On Oct 26 03:10 PM Mark Bern wrote:

> I suspect that there will be more of a "quiet revolution." One that
> includes millions of taxpayers who decide they just won't pay for
> the follies of government anymore. If we have another huge stimulus
> bill in 2010, the health care bill passes, a new VAT tax bill, and
> a cap and trade bill will push some of us over the edge. When people
> lose their jobs and their homes, they no longer pay taxes. They
> collect benefits and federal aid in many forms. Those who remain
> employed, especially small business owners, may just decide enough
> is enough. We're not paying for bigger government to regulate us
> out of business so their good buddies in mega corporations can increase
> market share. The IRS could become impotent if millions of Americans
> just said "NO!" to paying their taxes. If things get bad enough
> and the government continues with its print more money answer to
> everything, anything is possible.
>
> I am not advocating a tax revolt. I want to make that perfectly
> clear. I just see this as a possibility. If a movement to withhold
> taxes took hold, tens of millions of Americans could join. Only
> those who are due a refund would file tax returns. How would a government
> deal with that?

Oct 26 04:08 PM

[Chris Cook:]

@Mark Bern

I agree that there will be a quiet revolution, and indeed we may have already seen the shape of things to come in the way that a 19 year old invented on-line music sharing and single-handedly made the entire business model of the global music industry redundant.

Where the music industry goes today, the monolithic State (and their taxes), and monolithic Corporations (and their excesses) will go tomorrow, and faster than anyone will believe possible.

As John Gilmore almost put it (he was referring to censorship rather than banks)

"The Internet interprets banks as damage and routes around them".

I think Peer to Peer finance will be instrumental in the coming Quiet Revolution....

policyinnovations....

Oct 26 06:12 PM

[Mark Bern:]

Chris,

Peer to peer financing, relatives helping out, an underground network. That sounds strangely like what the Muslims are doing already. They've been doing it that way for 2,000 years. Are we really heading back in time?

I suspect that such activities could happen on a limited scale, but if it becomes widespread it should probably only take a few years before the financial infrastructure we have today crumbles.

Oct 26 06:50 PM

[Chris Cook:]

@ Mark

It's not a matter of either/or. If P2P solutions work then people will use them, and not the existing system.

If they don't work, then people won't use them. We shall see. One point re online music is that new online services have a habit of spreading virally with the right 'value proposition'.

I would argue that the value proposition of both P2P credit (through risk sharing) and P2P investment (through revenue/production sharing) are pretty compelling, both because of the risk profile, and because there is no return made to anyone who is only interested in making money out of money.

I was indeed intrigued to find that this partnership-based methodology has been around for thousands of years, and persists in certain little used forms of Islamic finance (most are institutionalised hypocisy). Well spotted.


On Oct 26 06:50 PM Mark Bern wrote:

> Chris,
>
> Peer to peer financing, relatives helping out, an underground network.
> That sounds strangely like what the Muslims are doing already. They've
> been doing it that way for 2,000 years. Are we really heading back
> in time?
>
> I suspect that such activities could happen on a limited scale, but
> if it becomes widespread it should probably only take a few years
> before the financial infrastructure we have today crumbles.

Oct 26 08:18 PM

[Gary A:]

He is right about fascism. We have corporate fascism as I have written here: hubpages.com/hub/The-F...

But he is wrong about Glenn Beck being a sympathetic ear. If Beck were sincere about changing the system he would condemn the neocons and the bankers. But he only condemns the bankers. You cannot condemn one without the other because they are connected. Don't forget, the Rockefellers, very influential concerning what the banks do and don't do, was an oil man. There is a connection between banksters and oil men, and neocons.

Oct 26 08:35 PM

[tripleblack:]

Atlas Shrugged. Talking about people who could predict scary things, Celente's OK, but check out Ayn Rand.


On Oct 26 03:10 PM Mark Bern wrote:

> I suspect that there will be more of a "quiet revolution." One that
> includes millions of taxpayers who decide they just won't pay for
> the follies of government anymore. If we have another huge stimulus
> bill in 2010, the health care bill passes, a new VAT tax bill, and
> a cap and trade bill will push some of us over the edge. When people
> lose their jobs and their homes, they no longer pay taxes. They collect
> benefits and federal aid in many forms. Those who remain employed,
> especially small business owners, may just decide enough is enough.
> We're not paying for bigger government to regulate us out of business
> so their good buddies in mega corporations can increase market share.
> The IRS could become impotent if millions of Americans just said
> "NO!" to paying their taxes. If things get bad enough and the government
> continues with its print more money answer to everything, anything
> is possible.
>
> I am not advocating a tax revolt. I want to make that perfectly clear.
> I just see this as a possibility. If a movement to withhold taxes
> took hold, tens of millions of Americans could join. Only those who
> are due a refund would file tax returns. How would a government deal
> with that?

Oct 26 09:45 PM

[Mark Bern:]

Tripleblack - No kidding. Good point.

Oct 27 09:26 AM

[John Galt:]

On Oct 26 06:50 PM Mark Bern wrote:
> Chris,
>
> Peer to peer financing, relatives helping out, an underground network.
> That sounds strangely like what the Muslims are doing already. They've
> been doing it that way for 2,000 years. Are we really heading back
> in time?
>
> I suspect that such activities could happen on a limited scale, but
> if it becomes widespread it should probably only take a few years
> before the financial infrastructure we have today crumbles.

But to be fair part of that is because the 3 major religions outlawed lending money for profit.

Banks really exist to coordinator SAVERS and LENDERS. I really doubt they are anywhere close to going away but agree that websites like Prosper.com or a future spin off could start to do some of the things traditional banks did/do. That site's failures actually back the idea that banks are around to stay ( at least for the time being).

Who is John Galt?
$

Oct 27 10:49 AM

[Austrian Ec...:]

The Goldman Sachs Gang and the Citi Group boys running the White House Gerald Celente
geraldcelentechannel.b...

Oct 28 10:18 PM

[Skjellifetti:]

Food riots? Obamageddon? Facism in the U.S.? HAHAHAHAHAHAHAH! The fringe element on the right is certainly good for some laughs!

This article just put M. Prieur du Plessis on the "Not Worth Taking Seriously" list.

Oct 29 12:27 PM

[TeresaE:]

He does.

He railed against WDC through the entire last term of Bush.

His long time viewers/listeners know this, they have heard it first hand for many years.

It is just popular now to call anyone against big government a neo-con. Just like the Republicans called out anyone against big government far left libs.

BOTH sides have done this and Beck has been pointing it out for a long time.

The difference now is that there are avowed communists and socialists (people who have paid dues to official organizations) in the President's administration and czar posts.

Which is a huge difference.


On Oct 26 08:35 PM Gary A wrote:

> He is right about fascism. We have corporate fascism as I have written
> here: hubpages.com/hub/The-F...
>
>
> But he is wrong about Glenn Beck being a sympathetic ear. If Beck
> were sincere about changing the system he would condemn the neocons
> and the bankers. But he only condemns the bankers. You cannot condemn
> one without the other because they are connected. Don't forget, the
> Rockefellers, very influential concerning what the banks do and don't
> do, was an oil man. There is a connection between banksters and oil
> men, and neocons.

Oct 29 07:45 PM