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Home Our Perspective And Now We're Headed For The GREATEST Depression, Says Gerald Celente
And Now We're Headed For The GREATEST Depression, Says Gerald Celente PDF Print E-mail
Written by Steve Meyers   
Friday, 20 August 2010 10:59

The fake "recovery" was nice while it lasted, says famous apocalyptic forecaster Gerald Celente, founder of the Trends Research Institute. But now the fun's over, and we're headed for what Celente describes as the "Greatest Depression."

Specifically, the always startling Celente says the country is headed for rising unemployment, poverty, and violent class warfare as the government efforts to keep the economy going begin to fail.

The crux of the problem, Celente argues, is that the middle class has been wiped out. America used to be a land of opportunity for all, where hard-working people could build their own small businesses in their own communities and live prosperous and fulfilling lives. But now a collusion of state and corporate interests that Celente describes as "fascism" have conspired to help only the biggest companies and the richest Americans. This has put a shocking amount of the country's wealth in the hands of a privileged few and left the rest of the country to subsist on chicken-feed wages and low job satisfaction as Wal-Mart "associates" -- or worse.

The answer, Celente says, is to bring back the laws that prevented huge companies from getting so big and powerful, and put some opportunity back in the hands of ordinary people.  But doing that is going to take a while.  And in the meantime, we're headed for trouble.

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Ron Rebner |2010-08-20 11:11:05
Steve. I just read 98% of traders are bullish on bonds. Many people who sold stocks have put that money into bonds or bond funds. We are now at or near all time lows in interest rates. I think they should sell bonds while they can. What are your thoughts. Thanks.
SteveM |2010-08-20 11:24:16
If I physically held bonds, I would take my money and run. I would buy something tangible and physical and wash my hands of paper. Junk bonds are trading at an all time high thanks to the Fed forcing people in to riskier "assets". And PLEASE DO NOT head into municipal bonds unless you want to throw money away. Bunker down even more now.
Ron Rebner |2010-08-20 11:22:14
Volume is up 32% on the NYSE but down (surprisingly) 13% on the NASDAQ. The internals are negative with the A/D 4 to 1 on the NYSE and 3 to 1 on the NASDAQ. A/D by volume is much worse, with the NYSE at 11 down to 1 up and the NASDAQ 5 to 1.

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