Famed Forecaster Predicts Collapse, Recommends Gold

Famed future trend forecaster Gerald Calente was recently interviewed by libertarian economics writer Lew Rockwell. Calente said:

  • We are going from the “Panic of ’08” into the “Collapse of ’09”, and it is unstoppable. It will be the greatest depression ever
  • In the middle of February or March, there will be disastrous collapses of other retail giants
  • There will be a collapse in commercial real estate which will dwarf the subprime problem
  • Wall Street has hijacked Washington
  • Those in the know aren’t trying to save the economy. The ship is sinking, and the wealthy are just scrambling to secure their own life boats
  • There will be a revolt in this county, and the government is planning on ways of supressing it. For example, Arizona is training police for economic calamity and riots. The military is building detention centers, and training military for riot control. There’s no stopping this
  • The Obama administration will take draconian measures, such as calling a bank holiday, confiscating gold, or something else dramatic which will really hurt the little people and enrich the too-big-to-fails
  • The only way we will get out of this economic mess is to rebuilt manufacturing base. The depression will go on and on unless we build a manufacturing base. He hopes this will be in the form of some new, very high-tech energy source – something way beyond solar or wind. [Note: I have had the same gut feeling for some time. Specifically, I have the hunch that the best way to get out of this depression is a huge energy break-through using a high-tech, clean source of energy. Physicists and engineers may be able to get us out of this mess.]
  • Calente recommends buying gold, and having some cash on hand and out of the bank
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