And Now We’re Headed For The GREATEST Depression, Says Gerald Celente
Posted: August 22nd, 2010 by: h2
Is he right, is he wrong? I’m guessing more right than wrong, sadly, since pretty much everything he’s saying in this interview is true.
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.
I’ve seen some people reject this technically correct definition of fascism, Greer comes to mind especially, but that’s based on a misunderstanding of what corporatism actually is.
And here’s another interview, America Won the Cold War But Now Is Turning Into the USSR, Gerald Celente Says
There’s a lot of talk these days about America being an empire in decline. Gerald Celente, director of the Trends Research Institute, goes a step further, arguing America is following a similar path as the former Soviet Union. “While the many glaring differences between the two political systems have been exhaustively publicized – especially in the U.S. – the glaring similarities [go] unnoticed,” Celente writes in The Trends Journal, which he publishes.
And here’s another, ‘Too Big to Fail’ Is Killing the Middle Class, Celente Says
Deregulation and bailouts favor the country’s largest corporations, at the expense of small business, Celente believes. “They’re squeezing out everybody else.” Policies like these have created the widest wealth gap in the industrialized world, he says; “10% of the nation controls 93% of the assets.” Former IMF Chief economist Simon Johnson makes a similar point in his book, 13 Bankers. In it, Johnson claims, six banks (Goldman Sachs, Morgan Stanley, JPMorgan Chase, Citigroup, Bank of America, and Wells Fargo) control 60% of America’s gross national product.
The only way to turn the tide, says Celente, is to “put back what was in place that worked,” like the Glass-Steagall Act and the Sherman Antitrust Act, which exists in name only. “That’s what stopped the robber barons from raping the country.”
Celente is confident more regulation on the largest companies will help entrepreneurs, which in turn strengthening a fading middle class – the backbone of our society. “America becomes strong again when the middle builds big again,” he says. Unfortunately, Celente sees the trend going in the opposite direction. “The merger of state and corporate powers, let’s calls a spade a spade. It’s fascism.”