THE ECONOMIC CRISIS HAS STAGGERED Wall Street and here is a man who says that the worst is still to come. He's been right too many times to dismiss. Try 2012 on for size. He also says President-elect Barack Obama doesn't have a prayer in fixing this mess.
Gerald Celente of the Trends Research Institute is a highly respected prognosticator. Here's another Celente forecast from the December 2007 newsletter called Top Trends 2008:
America’s going broke and the whole world knows it. Betting that its economy will spiral down and that the dollar will fall with it, foreign creditors are dumping dollars on the marketand even Third World street vendors don’t want to take greenbacks any longer. The further it falls, the less it’s worth. The less it’s worth, the less it buys. In the real world they call it "inflation." In America they call it "good for business."
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. When the giant firms fall, they'll crush the man on the street...
It's all rather frightening. And yes, we believe this is a true outlook. There is nothing to stop this financial collapse. America is changing.