Human Events had the opportunity to interview forecaster extraordinaire Gerald Celente, President of Trends Research Institute, several days ago — and the future he predicts looks bleak indeed. In fact, as Mr. Celente sees it, the Great Depression will seem like a mild recession as what waits for us in 2011 hits with the force of a Katrina financial hurricane.
In case you’re wondering who Mr. Celente is (if this is still possible), he’s appeared — along with his predictions — on Oprah, CNBC, Reuters, NBC, PBS, BBC, the Glenn Beck Show — the list goes on an on. His Trends Report has been successfully predicting the major future trends impacting our lives for 3 decades, including calling the dot com crash back in the 1990’s.
Quite a claim. And God help us if he is right — again.
“We’re sounding the alarm about the ongoing downward economic cycle”, Gerald told Human Events. “In 2002, we predicted that the collapse of the American empire would fall like the World Trade Center in a thunderous crash — in slow motion before our eyes. And now it’s happening.”
Mr. Celente follows over 300 trends: family, crime, war, education, consumer & business patterns which TRI synthesizes to predict the future.
“The US is becoming a shadow of what it used to be. Take education for example. The OECD group of developed countries ranks quality of life, education, health care of its member nations. The US is now falling down the table as one piece of data after another shows America is in decline. We’re no longer Win, Place or Show in quality of life, education, longevity… all the essentials where we used to be #1. And our economic underpinnings are failing.” . . .
“The dot com bubble should have burst and gone away in a short sharp recession. But the boys at the Fed re-inflated the economy by lowering interest rates to a 46 year low — and in turn created the real estate bubble — much bigger than the dot com bubble. “
“Now they’re creating the bailout bubble — which will ultimately dwarf the real estate bubble. It will cause the implosion of the global economy world wide — which will not be able to be repaired by creating yet another bubble. Every time the government fails, it tells a bigger lie and then a still bigger lie.”
“These previous bubbles were not allowed to pop — but they didn’t destroy the infrastructure of the country. This bailout bubble will.”
“But this bubble will be the last one. After the final blowout of the bailout bubble, we are concerned that the government will take the nation into war. This is a historical precedent that’s been done over and over again.”
“So, it’s not that the dollar will survive.We may not even survive. Look at the German mess after WWI. It gave rise to Fascism and WWII.