Gerald Celente predicts the collapse of 2009December 16, 2008
Legendary trend analyser and the man who predicted most major events of the past several decades is now warning Americans (and the world) to prepare for a broad economic collapse, potential bank holidays, ghost malls, civil unrest, food riots, and possible revolution by 2012. The only possible salvation is a new technological innovation as revolutionary as fire or the wheel.
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I used to listen to John and Ken every day on KFI in Los Angeles.
Here’s a little balance in regards to Mr Celente.
http://www.edrants.com/gerald-celente-futurist-fraud/
I was waiting for him to endorse Jacques Fresco!
What a world.
Thanks for the link, but that’s a remarkably terrible article. It makes fun of how obvious some of his predictions have been over the years, I haven’t been following Celente, but that’s not really a legitimate criticism. Every word he speaks can’t be something unexpected, he’s not a psychic or a prophet. By definition a trend must have already started for him to spot it.
Biased, yes. Remarkably terrible? Hmmmm.
I think another point of the article was that one can make a generalized prediction which will in some sort of light seem prescient.
That was sort of Popper’s view about the “theories” of Marx and Freud. He felt that any kind of outcome could “prove” their theory.
I guess it would only be sensible to know that the way things were going, bad things were going to happen.
Did he predict any specific dates? or did he just say “this thing is going to go bad one of these days.”
I’ve been thinking that for a long time.
I haven’t followed is past predictions too carefully so I don’t really know, but in these interviews he is quite specific. I think I heard one last week in which he mentioned February 2009 as a potential date for the first bank holiday, so we won’t have to wait much longer to know how accurate he can be. But even if it’s March or April I wouldn’t hold it against him. He doesn’t pretend to have a crystal ball.
I’ve searched all over the web for information about this guy and this about sums it all up.
FORTUNE TELLER: Gerald Celente
Trends Research Institute founder; owner of collapseof09.com
TRACK RECORD
Predicted 1987 crash, 1997 Asian currency crisis; said in 2007 that US was headed for “economic 9/11″ in 2008.
CURRENT PREDICTION
“Products are going to be cheaper to buy, but guess what? You’re going to need more dollars to buy them because your dollar’s going to be worth less. There is no fiscal or monetary policy that can save this. You cannot save it by printing more money.â€
Pardon me, but if this was my “business”, it would seem I should have a little better track record than this. Odds are sometimes you will be right.
Which is another point of the article I referenced. What about all his wrong predictions?
I just noticed something.
Every ten years he’s right.
Well I would be surprised if he didn’t get a few things wrong, nobody can be perfect. But you’re right nobody ever talks about the wrong ones, that wouldn’t be newsworthy! “And next an interview with a guy who is almost always wrong…”
Do you know what they are? I would like to see them before I judge.
Alice, I don’t remember any pundits predicting a crash in ’08 in 2007. Do you know any who were, except for this guy?
Isn’t Google great? I hope the Venus Project will have it.
Ask and you shall receive…a pundit who predicted the 2008 crash. I’m sure there are about 5 thousand more.
http://marathonpundit.blogspot.com/2008/10/1999-new-york-times-article-predicted.html
The problem is there is so much noise out there who can tell what’s true and what’s not? And besides even if you knew something was about to go wrong, which a lot of people did….what the heck are you supposed to do about it?
“When to get out” is the big question.
No one was complaining however when the big gains were being made.
just have a google…you’ll find a lot of them.
I posted one, but somehow it got lost in cyberspace.
Suffice it to say, I trust no one.
There were a few actually, Peter Schiff, Marc Faber, Nouriel Roubini come to mind. I’m sure there are more, but these were the guys in the media. But there was definitely a bias in favor of perpetual mania, no question about it. They conditioned people so successfully I still know a few who refuse to believe homes prices can fall. “Your house is your best investment.” Right. Believe it or not I sometimes still have to argue this point.
he may not be a pundit, but Dr. Nouriel Roubini would fit the bill of one [there are a few] who explicitly called this back in 2007 and they are also the same ones who, A, remind us that the housing market is at the root of this problem, and that B, we’re on the “rising edge” of a deflation wave.
right?
d’oh.
Oh I forgot, me! I sold all my stock in July 2007 out of fear of impending doom. I could see cracks in the system all around me. It sounds odd, but I could sense the uncertainty in people. I saw the clueless look on people’s faces when I told them the dollar was collapsing faster than the rate of interest on my savings account. I saw empty strip malls popping up in the strangest places. New homes with nobody living in them. So many of my friends were hopelessly in debt making stupid decisions, private lives in a mess. I used to follow the used car market very closely for no particular reason, I noticed many dealers that had previously been selling luxury cars switched to lower class cars and prices started coming down very quickly, I remember telling many people about it and saying it was an ominous sign. Of course everybody ignored me. I remember preparing very detailed calculations proving their financial decisions were wrong, all I kept hearing was, “everybody says X, you are the only person who says Y, do you think you’re the smartest person in the world?”. That frustration actually inspired a few of my articles on this blog. I’m sure there were other signs as well, just not coming to mind right now… but this was all in 2006 and early 2007. I started buying gold and some commodities in the fall of 2007, made some money in the first half of this year, sold some agriculture and oil in the summer (not enough…) lost some money in the second half. So I’m not perfect either. But ya, I saw it coming from a mile away. I have been watching the foreign exchange market very closely for many many years, you don’t need Celente to understand that trend.
yeah. after looking over your archives, I can see that Celente has nothing on you.
John and Ken should interview you.
do you think CDs might be a safe bet for the short run?
I have never given personal financial advice to individuals over the web, so this is just my opinion (seek the advice of a licensed professional if you want to discuss your personal situation). The answer is it depends on the interest rate and the definition of “short”, if you bought a CD 6 months ago you’re probably sitting pretty, but if the Fed continues to inflate the money supply at the current rate for another few years (which seems likely) I’m not so sure I would want to be locked in to cash more generally or US dollars in particular. Nobody knows for sure how this will unfold yet, but I have never really been too fond of CDs because I prefer to trade the extra 1 or 2 percent interest (over a savings account) for the ability to act quickly on any market moves or deals developing (stocks, gold, whatever). I don’t find the pathetic interest rates being offered now too appealing, I would prefer to hold cash so I can take it out at will with no penalties. Read today’s post. But that’s a personal decision, it may not make sense for you.
I was wondering if you have heard anything about the Nasdaq’s “PORTAL Alliance”? This consortium of Rothschild-influenced banks was created in November of last year, but there has been a complete media blackout regarding any of its activities since it was created.
When you look at the list of financial institutions and banks that are “members”, everything that has happened in the financial markets since last November (a fascist coup) starts to make one uneasy…
From Forbes.com:
(1744-1812) Meyer Amschel Rothschild:
Meyer Amschel Rothschild helped invent modern banking by introducing concepts such as diversification, rapid communication, confidentiality and high volume. The superlatively discreet foreign-exchange banker diversified from the very beginning, selling antiques and procuring loans. Remarkably, Rothschild was willing to cut into his own profits in order to secure future business.
And, earlier than most, he understood that time and information meant money, and he pulled out all the stops to remain in constant contact with associates across Europe. That network came in handy when he helped finance England\’s war effort during the Napoleonic Wars. Rothschild institutionalized his bank with a far-sighted will that ensured the continuation of his business. Considered a founding father of international finance, his banking empire–thanks to his five sons–had expanded to London, Paris, Vienna and Naples at the time of his death.
Corporate Heirs:
Merrill Lynch (nyse: MER ), Lehman Bros. (nyse: LEH ), Bear Stearns (nyse: BSC ), Goldman Sachs (nyse: GS )…
http://www.forbes.com/business/2005/07/21/rothschild-banking-international-cx_0721bizmanrothschild.html
——-
PORTAL Alliance:
The founding members of The PORTAL Alliance are: Bank of America, Bear Stearns, Citi, Credit Suisse, Deutsche Bank, Goldman Sachs, JPMorgan, Lehman Brothers, Merrill Lynch, Morgan Stanley, NASDAQ, UBS and Wachovia Securities. The collaboration is subject to the execution of a definitive agreement and regulatory approvals.
(see: “PORTAL Alliance” – 144a)
http://biz.yahoo.com/pz/071112/131151.html
http://ir.nasdaq.com/releasedetail.cfm?ReleaseID=275224
http://www.reuters.com/article/companyNewsAndPR/idUSN1245320920071112?sp=true
http://www.portalalliancemarket.com/
Yes, but I don’t buy the connections being made to this organization and the detention camps being privately contracted in the US under the Homeland Security Act. It sounds as whacked as the worst of conspiracy theories. The thing that alarms me is this guy Celentes mentioned it, on podcast of course, not his fox interview.
PORTAL was supposed to consolidate the trading of unregistered securities in NASDAQ. Are these a form of junk bonds? Anyhow, I can’t see their influence being furthered much beyond what the twelve firms already had, but I am pretty ignorant about the market (not for want of trying).
I have heard about it, but I really haven’t spent much time thinking about it to be honest. I do have a problem with them creating a two-tier system for raising capital. Based on what I remember from 2007, the purpose of the system is to simplify the process of raising capital for companies that don’t wish to subject themselves to public scrutiny and regulation. Not that I’m a huge fan of public regulation, but it’s even worse when the playing field isn’t even. I’m not sure what we can do about it, even Warren Buffet makes special deals to buy preferred shares outside the regular market. I would like to see a comprehensive list of companies that trade in that market and their lines of business, just out of curiosity… some drug smugglers and arms dealers, perhaps?
(1744-1812) Meyer Amschel Rothschild:
“Give me control of a nations economy and I care not who makes the laws.”
Meyer Amschel Rothschild
Well known fact to people making “predictions†on the future, (like Jeanne Dixon etc.) make a WHOLE LOT of predictions on anything and everything. Some will hit, and most will not…and if they don’t you can claim the timing is just off, or a % was true….anyone can do it. Start a blog, make a bunch of predictions, sit back and wait…see what happens then alert the media to your crystal ball abilities…. LOL
Celente is very good at reading and extrapolating trends. He has brains and common sense to match. People should not take what he says lightly. Sure there are many who predicted the Panic of 2008; but very few who listened. Youtube Peter Shiff and you will see Finacial commentators interviewing him and laughing at him in 2006-2008. No one is laughing now.
I predicted the 87 crash, Japanese crash in the 91, Dot com crash and the housing crash too. I was early on all as usual. But never burned.
9 parts common sense and 1 part understading finance and economics is all it takes.
I will predict right now that if Japan (#2 holder of US debt instruments) does not forgive the USA on all debt obligations, then the US will default on it’s debt which in turn will crash the US dollar by at least 60%. Time is running out on this one. Alternatively look for a one world currency to replace the floting rate currency system now in place. Either or both could happen.
I also predict that as long as the E in the P/E ratio continues to go down, so will the stock market indices (expect a fake out rally some time soon).
I’d say get your houses in order and keep your powder dry…
Celente has not been the only one to predict this economic fall Lyndon Larouche. He has even out line how to get the economy back on track. He out lines how to keep thousand of jobs of Ford and GM by retooling them to make a Mag-Lev High Speed rail system. Further our way of transportation much like Lincoln did with the railway system. But this system will connect continents not just a nation. That is an infrastructure project like no other. There is a whole series of technological projects that need to be done along side of it to help us get out of this economical mess.
Hi, I’m living in S. Korea at the moment. Currently, the exchange rate is 1.348 won/dollar so, in other words, it’s pretty bad.
Does anyone have an educated forecast about the exchange rate ?
Amazing. I just wish the brains of this world would get together and provide some accurate info for the people on planet earth. The US economy is supposed to be on the rocks, yet you go to these fast food restaurants and people with a bunch of kids who look they can least afford it leave bacon and eggs and pancakes and 1/2 drank glasses of OJ on the table. Who knows, maybe it’s my tax dollars at work. I went to Outbacks in Fla. and had to wait 1 hr. to get a table. The malls are still overflowing. Which is it now, and when will I see the evidence of this failing economy. Now the stock market is almost back to 8000 (I think). I wish someone would make up their minds, and this G20 summit seems to be going just honky dory after all the dire predictions including what’s his name storming out if things don’t go his way. Instead he says “today is a historic day”. I think I will protest to all this drama by cancelling my cable and not getting involved in all this gobbledeeguck. Nothing comes true, and it is all spin. Who out there can one believe?
The Elliot Wave theorists have predicted this for years. Read Bob Precters, Conquer the Crash, it came out years ago. Anyone with a basic understanding of economics knew this would happen. The bubble had overinflated and burst, you don`t need to be a psychic to see this.
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