Tuesday, March 03, 2009

Celente: U.S. Has Entered “The Greatest Depression”

From http://www.prisonplanet.com/celente-us-has-entered-the-greatest-depression.html

Celente: U.S. Has Entered “The Greatest Depression”
Deadly accurate trends forecaster urges people to hoard cash reserves, buy gold

Paul Joseph Watson
Prison Planet.com
Tuesday, March 3, 2009

Trends research analyst Gerald Celente, who has risen in prominence on the back of his deadly accurate economic predictions, says that the collapse of financial markets heralds the start of “The Greatest Depression”.

In his latest Trend Alert bulletin, Celente attacks mainstream pundits who falsely predicted a market bottom and the start of a recovery, noting that conventional analysts have been proven “dead wrong” again and that, “There will be no turn around in the second quarter of 2009 or 2010 or 2011.”
“The global financial system, built on endless supplies of cheap money, rampant speculation, fraud, greed, and delusion is terminally ill and will not be coaxed into remission by stimulus packages nor restored to health by government buyouts and bailouts,” writes Celente.

The most positive prediction that Celente makes is that the Dow will not reach zero, a tongue in cheek reaction to yesterday’s record plunge which saw the Dow rolled back to 1997 levels well below 7,000.
(ARTICLE CONTINUES BELOW)

Celente warns that the first signs of real panic are starting to set in, unrest that will cause governments to “take draconian measures to prevent total economic collapse and public panic.”
“Expect massive bank failures, runs on banks, and bank holidays,” writes Celente. “Even if deposits are FDIC insured, quick access to money is by no means assured. At minimum, have reserves on hand for emergencies,” he forecasts.

Celente cites gold as one of the few investments that will continue to rise in value, eventually reaching $2,000 an ounce and beyond.
Celente’s dire forecasts were initially scoffed at by the media but as the crisis has worsened, his credibility has soared.
Celente, who successfully predicted the 1997 Asian Currency Crisis, the subprime mortgage collapse and the massive devaluation of the U.S. dollar, told UPI in November 2007 that the following year would be known as “The Panic of 2008,” adding that “giants (would) tumble to their deaths,” which is exactly what we have witnessed with the collapse of Lehman Brothers, Bear Stearns and others.
Research related articles:

Celente Predicts Revolution, Food Riots, Tax Rebellions By 2012
From The “Panic” Of 2008 To The “Collapse” Of 2009
The Alex Jones Show - L I V E - Nov. 17 With Gerald Celente
Gerald Celente the 2009 Collapse
Greece-Style Riots Coming To U.S.
The Economist: U.S. In Depression, Not Recession
Soros Compares Mishandling Of Current Crisis To Great Depression
The Great Depression has Arrived- Collapsing American Dreams
The Alex Jones Show - L I V E - Dec. 18 With Texe Marrs & Gerald Celente
Another Prominent Economist Forecasts Depression, Says Gold To Hit $2000
Gerald Celente: Global Economic Meltdown
IMF Says Advanced Economies Already in Depression

No comments: