Economic Forecaster Predicts "Greatest Depression" ABC

[Tierra_y_Libertad]

I don't know if I agree with this guy on how bad it's going to get. But, I do believe it's going to get a lot worse.

What do you think?

http://www.abc6.com/news/41131932.html

Economic trends foreceaster Gerald Celente bears news nobody wants to hear: the economic crisis is going to get worse. ABC6 Anchor John Deluca travelled to New York to talk with Mr. Celente, who has been featured by major newspapers and television networks, and asked the question on everyone's mind: how much worse?

[NJCher]

1. Hey, maybe it will get a lot worse

But let's not forget that people like Mr. Celente make a helluva lot of money peddling fear. Fear is a powerful motivator to purchase services like the ones he sells.

He regularly appears on Coast to Coast, a program I listen to. I don't bother listening to the segments he's on because it's the same-old, same-old.

Mr. Celente pumps up the fear--all the way to the bank.


Cher

[Cirque du So-What]

4. I don't want to dig too deeply into whatever it is that Celente is selling

but his rhetoric sounds like boilerplate for the 'gold bug' crowd.

[blue_onyx]

2. I don't think things will get that bad

He claims he forecasted the housing bubble bursting. Well, yeah...a lot of people knew home prices were artificially high. It was just a matter of when the bubble would burst. I think the national unemployment will peak at 10-12% and will be 15-18% is some states (Michigan, Rhode Island, California).

[Greyhound]

3. Being "featured by major newspapers and television networks" is qualification

for what, exactly?

What's his track record?

[UTUSN]

7. "featured by / newspapers-t.v." - uh, the way astrologers are?!1 n/t

[lumberjack_jeff]

5. US businesses are, adjusted for inflation, worth about a third of what they were in 2000.

I find it hard to believe that the impact of this will be trivial.

[Mojorabbit]

6. I think it could go either way

and I am planning accordingly. There are those 500 trillion in exotic securities out there that someone will have to take the hit for and that is more money than in all the world from what I understand(which isn't much).

[DemReadingDU]

8. Economic Armageddon

Celente confirms various other journalists/bloggers/authors that I have been reading. Get ready, it may come in 9 months. Maybe later, maybe sooner. But it's coming.