Trendmeister Gerald Celente got the theme of 2011 correct. Social unrest. Now is predicting the dominant trend of 2012 will be financial crack up.
Celente cites the double-dealing of the financial sector as a primary reason for this prediction, and he describes how he was recently taken for six figures in the MF Global fiasco.
Prepare for an Economic 9/11 and Economic Martial Law (long audio interview)
by Gerald Celente
2 comments:
what...?!
tom, please re-examine whether you want to really have this post on a MMT page.
gerald celente is about the most extreme opposite to a MMT logical, fact-based approach to economic policy as you can find anywhere in the world - and that includes our friend, peter schiff.
he is no better than a person who picks up the latest edition of FT or WSJ to pick up the latest topics, then goes into his kitchen, reads some entrails and somehow comes up with divinations about future trends.
one word sums up his predictions: FAIL. some examples:
- economic collapse of 2010
- greatest depression of 2011 (ok, there are about 20 days left for that to happen)
- ghost malls and retail collapse
- USD collapse
- hyperinflation
please re-examine whether you want to quote this failed demagogue and rabble rouser on this site.
thanks.
SR, agree, plus the interview is with Lew Rockwell, 'noff siad. However,I thought it was an interesting piece because Celente describe who he got taken by MF Global and, he alleges, CME basically reneged on its responsibilities, too. What he is saying is that people are figuring out that the system is rigged and there is no were to go.
Celente's beef here is about gold contracts he was way ahead on that he got stiffed on. He is also enraged over how casually it was handled.
Surely most of us are hearing the same kind of thing from friends and acquaintance that got burned when sequestered accounts were used without their knowledge, and then CME refused to guaranteed the losses, even though many believed, apparently in error, that this was contrary to the representation.
This is a huge deal gone bad that further undermines confidence in in the entire US financial system, which is coming across to the world as rigged and even crooked. No one is ever held accountable for huge losses or suspicious practices. There seem to be no cops on the beat.
As you know, the doom sayers have been going to gold for some time, and now it seems that this is not even working for them unless they take immediate delivery. This is not a small group, and they talk to each other.
As I have said before, I don't endorse everything I post. I put us stuff that I think is worth knowing about if you are interested in trends.
I am wiling to credit Celente on his prediction of social unrest as the dominant trend of 2011. I am also willing to credit Ravi Batra for a lot good insight, even though he was comically wrong about "the depression of 1990."
Reality is perception, and while most of the world has a problem with matching up the subjective and objective, its the dominant perceptions that drive behavior, and perception can only diverge from reality for so long before the disconnect become too great and there is a reset.
I watch people like Celente because they are influential in shaping perception. I look at Zero Hedge. Max Keiser, Mish Shedlock, etc. in the same way, for example. Plus, it's like cartoons. Tyler Durden and Some , like Gerald Celente are cartoonish sterotypes that are always good for some laughs, while follks like Mish are great fact-gatherers, but their interpretations are usually bonkers.I try to sift the kernal from the chaff.
If I were only watching people who are in touch with reality, I wouldn't be looking a very much at all. Very, very few get it. IF MMT'ers only talk to each other, they are going to be trapped in the bubble of their own perceptions.
Moreover, when I am looking across the spectrum, I process a lot of information and attempt to distinguish between fact and interpretation. Most interpretation is worthless or misleading, but there are often facts buried in even some of the most outrageous interpretations that may be difficult to find elsewhere.
This is what intelligence work is all about. It's how the intelligence services do it. I studied this under person who was trained in intelligence by the pros. It has served me well.
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