Saturday, May 8, 2010

Gerald Celente: Crash of 2010 inevitable

Some people take a pretty bleak look at the economic outlook but, I think, still tend to look at it with a certain amount of programmed exceptionalism. Sure, things will get bad, they say, but we'll recover. Eventually. I think a major flaw in this mentality is ignorance of the fact that this isn't an accident, this isn't a bureaucratic SNAFU. This was planned. They wanted to destroy the economy, and they're not done with it yet.

But even if you're unaware of the globalist agenda, exactly at what point do we start to make a real recovery, in the minds of these people? Aren't there certain steps the government and the Fed need to take, such as eliminating the budget deficit, cutting taxes, cutting spending, reducing the size and scope of government, etc, before a recovery can begin? Is the government even pretending to maybe think about doing any of these things? No, they've only accelerated the disastrous economic policies that brought us this calamity in the first place.

And things have improved statistically, but only because they created another bubble with their bailout cash. And when that bubble bursts, the resulting crash will be worse than the last one - possibly fatal. Because the EU may bail Greece out, with their debt of a paltry $2trillion. That's the size of our yearly budget deficit alone. Our public debt is anywhere between $14T and $100T+, depending on what method of determination you apply. Who's going to bail America out?

Nobody.