One of the “crash prophets” who correctly-predicted the 1998 global economic crisis is trends forecaster Gerald Celente. The founder and director of The Trends Research Institute appeared on RT America last Thursday and echoed what a number of his fellow “crash prophets” (Marc Faber, Jim Rogers, Peter Schiff) are saying these days about money printing and rising asset prices. Celente told viewers:
This is a known strategy. That by lowering interest rates, more money would flow into the equity markets. They knew this. We said this when it was happening when they were starting to do it. So that’s been boosting up the stock market.
And again, the only thing that’s keeping any of this going- not only in the U.S., in the U.K., now in Japan, in the European central banks- they’re all dumping money into the system and lowering interest rates. That’s the only thing that’s keeping it alive, and that’s what propping up the stock market.
Celente- who’s been forecasting trends since 1980- shared his outlook for the next year:
Our forecast for 2013 is more of the same- but worse. We see recession on the horizon. There’s going to be a point… when they have to raise interest rates because of the debasement and the devaluation of the currencies.
When that happens, you’re not going to see homes bought the way they are now. You’re going to see a slow down across the board.
Again, the only thing that’s keeping this going is the cheap money, these zero interest rates, not only in the U.S. but in Japan, around the world.
It’s a currency war. Everyone knows it.
At some point, the interest rates are going to go up. And the economy is going to go down.
“Gerald Celente – RT America with Liz Wahl – January 31, 2013 “
By Christopher E. Hill, Editor
Survival And Prosperity (www.survivalandprosperity.com)
(Editor’s note: I am not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented herein)
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