Gerald Celente – Economic Meltdown Worse Than Great Depression Coming
Renowned trends researcher Gerald Celente is making a big change to his 2018-2019 economic forecast. What is the timeline for this coming market meltdown? Celente says, “The timeline is tough, but look . . . all you need is one major failure or one major hedge fund pulling out because that’s who is running the show. You look at the number of stocks that have declined . . . . Look at the big hedge funds and the private equity groups that are running this, and look at their debt level. It does not take a genius to figure this out. If you have $250 trillion worth of (global) debt and interest rates are going up, and it’s costing you more to borrow as you are making less, what is going to happen? It’s going to collapse. . . . You’ve got to pay more on your debt, and your debt is ballooning. Of course, it’s going to crash. It’s a Ponzi scheme. . . .It’s going to be worse than the Great Depression. When this thing crashes, it is gone.”
Celente says you should have is physical gold, but don’t wait too long to buy it. Celente says, “There is going to be a spike to the $2,000 per ounce mark when it gets past $1,450. It won’t be a gradual increase.”
Join Greg Hunter as he goes One-on-One with Gerald Celente, Publisher of The Trends Journal.