With the Dow surging once again, today today the top trends forecaster in the world warned that the market crash is coming as an economic 9/11 approaches.
Economic 9/11: Gold, Guns And A Getaway Plan
September 19 (King World News) – Gerald Celente: Happy Birthday Panic of ’08. Ten years ago marks the start date of the equity market and real estate meltdown that hit the United States and spread across the globe. From Europe to Asia, from Africa to South America, few countries were spared.
Are you prepared for the next financial crisis, the exploding debt bomb that will rock the world? As subscribers to the Trends Journal know, and by the vast national and international press coverage, not only was I the first to predict the Panic of ’08 while Wall Street, Washington, the Federal Reserve and mainstream media were denying it, I even coined the term. In fact, I registered Panic of ’08 as a domain in 2007.
And back then, as now, despite the facts, the Wall Street cheerleaders who want to keep the equity market Ponzi schemes going, dismiss the facts that the recovery since the Great Recovery was no true recovery at all. It was fueled with floods of cheap money that has now reached an unsustainable $250 trillion in global debt…
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When will the Market Meltdown hit?
While I was 100 percent correct in forecasting the timing, causes and effects of the Panic of ’08, and also terming it the Great Recession when I predicted it was coming before it arrived, I incorrectly forecast that economic conditions would worsen long term, rather than slowly improve.
Tracking trends is the understanding of where we are, how we got here and where we’re going. I clearly understood how we got here but missed where we were going because what governments and central banksters did to bail out the White Shoe Boys was unprecedented, and anathema to capitalism.
“Too-big-to fail?” Zero/negative interest rates? Quantitative Easing?
They didn’t teach me this in Economics 101 or Graduate School.
Now, 10 years after the Panic of ’08, to keep the fake recovery alive, the U.S. Federal Funds Rate is only at 1.75 percent to 2 percent, 1.5 in Canada and 1.5 Australia… where mortgage debt exceeds 200 percent of disposable income. Then there is Europe Union, Japan, Denmark, Sweden with rates still in negative territory. Thus, when financial panic hits, lowering rates won’t stop the meltdown.
And, even with these slight interest rate rises, as evidenced by the U.S. rate hikes, Emerging Markets currencies have hit new lows against the dollar and/or sharply declined, pushing their equity markets into bear territory.
The market crash is coming. We have identified and detailed the causes and effects in our Trends Journal, Trend Alerts and Trends in the News Broadcasts. Beyond the economic fundamentals, increased tensions in the Middle East and rising oil prices will exacerbate the equity market shock.
While we do not provide financial advice, we forecast gold, the ultimate safe haven asset, which we also forecast is at or near its bottom price point, will rapidly escalate beyond $2,000 per ounce as the markets melt down.
Also, be prepared for social unrest to escalate… guns, gold and a getaway plan.
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