On the heels of a wild week of trading in global markets, Gerald Celente spoke with King World News about shocking indicators that are closing in on 2008 collapse lows.
Gerald Celente: “Look at the debt bubble in China. They had a total debt of about $500 billion 20 years ago. Today it’s around $30 trillion. Look at the home prices in the hot markets in China — they barely rose in the last month. And take a look at what’s going on in Australia. So it’s more than just Canada and the United States. It’s global. Look at the prices in Hong Kong going through the roof. So, yes, it’s an over-speculation. But let’s go back to the cars. You mentioned the subprime auto crisis. Well, anybody remember the subprime housing crisis? It’s just a different crisis with a new name. And when you look at the facts, you are looking at about 7.5% of loans moving into arrears (default) in the last 30 days. At the height of the panic of 2008, it was around 10%. So it’s closing in on that (2008 collapse number). Then you look at the total United States’ debt and it tops the pre-crisis panic of 2008 peak. These are facts. And then you look at where the…To continue listening to the powerful KWN audio interview with the top trends forecaster in the world, Gerald Celente, CLICK HERE OR ON THE IMAGE BELOW.
***ALSO JUST RELEASED: ALERT: All-Time Record Silver Short Covering Spree Continues! Also Covering Gold Shorts! CLICK HERE.
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