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A More Bearish View: Gerald Celente "What is bad for Wallstreet is Good for Main Street."

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December 30, 2008 – Comments (7)

Gerald Celente of TrendsResearch.com - 23 Dec 08 makes some 2009 predictions.

"the only wealth they create is for themself...Wallstreet is a casino...the game is rigged against the little people"

"[Wallstreet] is like the Titanic, the rich are are getting the lifeboats"

"How do you rate Paulson at the FED?"

"Obama is bringing in the Clinton retreads"

"we are going into the collapse of 2009"

"140k thousand stores have closed in the last year"

"the commercial real estate sector is the next to collapse after retail"

"this is going to be worse in the 1930s Depression"

"What is bad for Wallstreet is good for mainstreet"

"we are going to see the rise of distance learning...as America cannot afford to send their children to school"

"use up, wear it out...plant something..rip up those lawns"

"quality is what going to count in this greatest depression"

"I buy gold...I am a believer that gold is going to go past $2000 an ounce"

FYI -

Fox Business: Gerald Celente Predicts Revolution 11/10/08

7 Comments – Post Your Own

#1) On December 30, 2008 at 4:30 PM, abitare (76.73) wrote:

FYI -Summary on the last video:

From Daily Paul:

I was shocked that Fox would air such a segment.

They mentioned that before 2012:

1. America will be the first undeveloped country
2. Revolution, food shortages, riots, marches
3. Food instead of gifts for Christmas

Seriously, I was shocked. The segment lasted for more than 6 minutes. He said things like parents shouldn't send their kids to get business degrees or psychology degrees and send them to community colleges to learn a real skill. He kept implying that food will become the most important thing for us. He said the retail industry will die off completely but local markets will thrive.

The host even introduced him as a guy who's "predictions always come true".

Gerald Celente's website:

http://www.trendsresearch.com/

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#2) On December 30, 2008 at 5:15 PM, kdakota630 (29.69) wrote:

Thanks for the link to Gerald Celente's site.  Interesting.

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#3) On December 30, 2008 at 5:35 PM, binv271828 (< 20) wrote:

fantastic post. I have listened to clenete several times and he makes very compelling statements. thanks.

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#4) On December 30, 2008 at 8:28 PM, Harold71 (22.17) wrote:

I was surprised as well, that FOX would put Celente on...not sure about the "bar interview"...getting weird.

the retail industry will die off completely but local markets will thrive.

Everything that I have analyzed says that the paradigm shift, which has only just begun, will involve a transition from "Globalization" to "Localization." 

Globalization is so last decade.  It's not necessarily all good or bad, this change, it's just part of the new paradigm.  I believe the rise of localization will be increasingly apparent to the masses within 1-2 years, and blatantly clear within 5 years.  It's the trend...call me Harold Celente....haha

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#5) On December 30, 2008 at 9:00 PM, kdakota630 (29.69) wrote:

Not sure why you guys are so surprised that Fox News would put on Celente.

Technically it was Fox Business, and I think that "bar interview" is just the setting of one of their shows.  Being in Canada I don't get Fox Business, so I can't say for sure.

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#6) On December 30, 2008 at 11:04 PM, Tastylunch (29.33) wrote:

He kept implying that food will become the most important thing for us. He said the retail industry will die off completely but local markets will thrive.

Seems a bit too extreme, people are always going to need goods, They will get them somehow. Nobody would love to see the boxes and department stores take it on the chin than me, but I just don't see them all dieing completely.  I suppose in a Mad max scenario retail could move back to bazaar, market,localized scenario or so .However I doubt grocery stores are going to be allowed to fail by the government, if that were to happen there would be complete chaos. I think you'd see martial law and any sort of  capitalism suspended before that happens.

If mega retail were to completely go, then just about everything else would have to go I would think. After how manufacturers/consumer product makers sell anything if they had no outlets to sell them? How would software makers and industrial manufacturer make any sales? Who would use shipping? Who would be able to pay for insurance or medicine? Who would use accountants? who could afford Lawyers? Who will stay in Hotels?

It's all coupled together, you can't completely lose a central sector and expect anything else to survive. Big Box Retail last I looked was the largest employer in the US.

I dunno, color me unconvinced, very bad is not the same necessariy as apocolyptic. I guess I just difer in scale not the what. Time will tell I guess.

I am convinced that commercial RE is the next domino though.

I'm glad that he thinks downtowns will come back though, Since I'm a downtown retailer. :-)

 

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#7) On January 02, 2009 at 9:01 PM, woudentm (< 20) wrote:

I see a trend.  It has been the pessimists that have been right over the last 6 months.  The CAPS system promotes them and the pessimistic voice dominates.   Sort of like momentum built into the CAPS system.

I don't mean to denigrate the pessimist here.  They bring a sometimes necessary sobriety to the discussion.  But, I do consider that a sampling from the blogs from the highest ranked members will be biased toward the pessimistic.

Me?  I am a guarded optimist.  There is light at the end of the tunnel.  Yet I listen carefully to the pessimist because I want to know about where I might stumble before it is too late.

Keep it coming!

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