Gerald Celente Boom BustGerald Celente joins Boom Bust to discuss the panic gripping the US regarding the downturn: ‘There’s panic on the Streetsimply because the economy is faltering.
Gerald talks about the Fed, the US Economy and global economic trends. The US Federal Reserve has pared its QE program even before Janet Yellen took the reins- the question for Celente is what this means for the US economy?
Yields have gone down, not up. But Celente believes this will not last and that the economy is faltering.

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  1. Celente gives everyone a dose of reality.  I used to think this would end like the 1970′s where we would have 3 to 5 years of 12% to 18% inflation.  It doesn’t seem this is realistic given the massive concentration of wealth. 

    • I’m still waiting – and holding my breath attempting to figure out if were going to suffer DEFLATION or INFLATION?  Yes the monies are being pumped out, but the banks are simply using the $’s to balance the leverage on their bets, thus they REALLY have no $ to part with.  Inflation in goods & services is evident, but I’m seeing mixed signals with DEFLATION in ASSETS.  Even those which benefit from low interest rates are stagnating.
      Thus my pickle:  Buy a house, lock in the low interest rates and get a house on the CHEAP when inflation REALLY picks up
      or – Buy the house, lock in the rates (and loan amount) and watch asset values tank because of lack of liquidity on part of the citizenry, and be stuck financing an asset worth 1/3 the purchase price.
      The fact that Chpt 7 is gone for the average Joe is of GREAT CONCERN to me.  I don’t hold my financial freedom lightly, yet I do not want to miss out on a great train.  My stomach is telling me that the low interest rates are a mouse trap meant to suck me in before the jaws close in on me. (the people) trapping me in an unescapable debt that in 10 years may legally be transferred to my children who may never be able to pay it off because of the massive deflation and possible collapse of the U.S. markets/financials.
      I think I lean towards missing the boat and playing it safe.  Better to not be rich than to be a debt slave. (sigh) still… tough to think I might miss a great opportunity, but you know what they say about hind sight.

    • @Shamus001
      If it were me, I’d rent for a year and then look at the market.  I’m betting prices are a lot lower in a year and metals might be a lot higher.   As to the debt, the less you have the better off you will be.
      If you get into a loan and the dollar blows up and  you can’t make your payments, you’ve lost everything you put into it.


    Strategists from Goldman Sachs Group Inc. to AMP Capital Investors and JPMorgan Chase & Co. are also telling clients to hang on after losses that began with currencies in Turkey and Argentina spread to developed markets. The Standard & Poor’s 500 Index slid 2.3 percent yesterday, capping its first 5 percent retreat in eight months, while Japan’s Topix index plunged 4.8 percent for its biggest decrease since June.
    “We didn’t expect the U.S. would be this weak,” Kathy Matsui, chief Japan strategist for Goldman Sachs in Tokyo, said by e-mail. “Since we do not see sufficient reason to change our fundamental earnings outlook and stock prices have fallen, the market still appears attractive to us.”

    • ANY recommendation from Goldman Sucks is a 1st class directive to do just the opposite of whatever they are recommending.  These are the people who like to tell their clients to do X while they either short X or do Y, which profits when X loses.  Their clients get screwed and they get even richer.  Makes me wonder why they still have clients.  People with money are rarely stupid, yet the fact that they have not shunned this vampire company in droves is a valid argument against my wealth and intelligence thesis.
      Yes, the current stock sell-off could very well be a healthy 10% market correction.  These often precede strong upside moves.  But they can also precede stronger sell-offs and even bear markets.  Which is it this time?  Hard to say but as I have said before, the market time between April 2014 and July 2015 looks very bad to me as an investor.  This doesn’t mean that the Fed or the Gov could not pull another rabbit out of their financial hat and surprise everyone via inflating the stock bubble even larger than it now is. Caution is strongly advised, however.  Keeping a healthy cash hoard, investing in only a few key long-term positions, and keeping your stops close seem very good ideas at this point.  The odds of making a lot of money in this market seem considerably lower than the odds of losing a lot of money in this market.

    • Pulling back on QE is to withdraw liquidity from the markets and the PPT won”t be propping up the stocks either… we’ve lost 1000 Dow points already on just the effects of the FIRST $10B withdraw in QE… just wait ’til the next $10B hits.   I always said, when the QE music stopped, that’s when they were pulling the plug on the system, just as Chapman predicted, three years ago, btw.
      Sinclair said they had no choice but QE to infinity if they wanted to keep the economy going.  He was right and now that we are seeing the pull-back in at least the PUBLIC QE, the liquidity is circling the drain faster and faster each day.
      Where Sinclair was wrong, as I see it, was/is in his failure to acknowlege that the QE reduction is the beginning of the deliberate implosion of the economic engines of the world.  THAT is the design of the endgame and, it would appear, we have started down the double-diamond rocky slope.
      Buckle UP!

    • @Sovereign Economist
      Those who understand a bit about economics are aware that free markets have recessions from time to time and that this is a healthy cleansing action.  It resolves capital misallocation, trims dead wood, and establishes accurate prices for both over and under priced assets.  Somehow, however, the big-shot economists of the world have decided that the markets do not need these purgative periods and have acted to stop them from happening.  Unfortunately, they are wrong and the market very much needs the occasional cleansing that a recession provides.  These are similar to controlled burns in forests.  Without them, forest debris builds up and when a fire occurs it destroys the old growth trees with a long hot fire instead of the many short and much cooler fires that a minimal debris build-up supports.  In 2008, the Fed, other central banks, and many governments did all they could to prevent the cleansing recession that was badly needed.  Recessions are politically unpopular because of job losses, so what better thing for politicians to do but oppose them via pushing large amounts of capital into the economy that force-feeds the economy and prevents it from bottoming out?  
      But a recession delayed is a recession that will still happen at a later date, only it will be much more severe in its effects.  Virtually any problem that is put off only gets worse and that is very likely the outcome we will see.  Unfortunately, the actions of the Fed, other central banks, and the politicians has not had the beneficial effect that they had hoped it would.  Instead, we are now in a depression even though this is not admitted.  To even utter the “D” word would be tantamount to heresy, which would justify their excommunication.  Still, all the signs of a depression are present.  We have falling national production of about 1.5-2% and not the faked up “growth” numbers of 2-3%.  We have long-term persistent unemployment, again regardless of what the faked up numbers show.  THis has been going on for the past 5+ years, so both of these qualify the current time period as a depression and not merely a recession.  
      Having watched the US economy and the stock market for about 50 years, I can say that at no time during that period have I seen what we are all seeing now.  No recession during my life has lasted longer than about 18 months.  The average is about 13 months.  Then, the recession ends, the economy recovers, and MANY jobs are created.  This economy is not creating jobs in sufficient numbers to keep up with our population growth, ergo, there is no recovery, no “green shoots”, and therefore no way that we can resolve our unemployment problem, our debt problem, our borrowing and spending problems, or any other economic or financial problem that requires the recognition of reality.  For some reason, it is just better to ignore reality, continue to hand out freebies to your voting blocks, and act as if nothing is wrong.  Ayn Rand advised us a long time ago that, “We can ignore reality but we cannot ignore the consequences of ignoring reality”.  We are in deep doo now because our gutless politicians and bankers have ignored reality for so long that we are now seeing the consequences… and they will be nasty, brutish, and LONG-lasting.

  3. If you want an education, subscribe to The Trends Journal. Private video by Gerald Monday through Friday around 6:30 7:00 EST. The cost is 100 bucks a year for non seniors and 50 bucks a year for seniors. It is the height of my day! It is terrific!

  4. Shamus  I largely consider a home with a loan as a hge counterparty risk to you  The loan is likely to end up being owned by the Fed or a government agency if you want to qualify for pretty much anything now. I was talking to a mortgage broker who is a good friend. He said that in short order subprime will be back in some disguised loan terms.  Not based on income, like any good loan
    But with rates low they are still 3.5-4.0%   That is a long haul to pay down the loan even modestly. Another 1% of the value of the home for taxes and insurance.  Maintenance is a sure cost.  Pride of ownership extracts even more.  Home Depot and Lowe’s didn’t build those huge warehouse from renters.
    I suspect that homes will flatten in price and drop if we get a real economic FUBAR. That means your home owns you. Any income issues and you are going to be on the wrong side of a loan that must be paid.  Nonpayment will put you in a special deadbeat class.  Debtor prisons are being built for people who default on any number of obligations
    I can;t wait for the day that I pay off and burn my mortgage.  A loan like this is just too much counterparty risk. And property taxes are not going to go down, particularly in light of fiscal deficits in the states, most of which are near bankruptcy.  They will want MOAR from the homeowners since they know a home owner is trapped by his home and mortgage.

    • YES SHES ANNOYING! She looks like an ex porn star trying to seduce the viewer with over exhaggerated hip movements while hiding her tatoos! She’s actually kinda gross!
      I miss Lauren Lyster with Capital Account.

  5. astoria joe.  the host is a bubble leaded moron who lost control of the interview in the first 2 minutes. She scared to deal that Celente took over the interview and tells the truth. She can’t handle the truth.  I’d guess she crapped herself after this interview and got her ashes hauled for her performance
    The woman who did the financial report for RT and left for greener pastures was a good interviewer.  I really hate that electronic bing bong crap that substitutes for a theme and music.  It’s retarded.
    BTW  I am posting in BOLD for one reason  My eyes are getting older by the day. 
    This is the only way I can clearly see the typing.  
    If anyone else wants to use bold type would get my undying gratitude and a place in my will. 
    Well, maybe my gratitude.  Everything I own will go to a Foundation set up to spread alt news  bullsheep to the world.  Just kidding 

    • @AGXIIK Hey Bud, you really need to invest in your health.  Your all that you have ya know?  Part with 2k in PM’s or fiat and get laser surgery.  I did, and my world is sharper and happier!

      Also, make certain the refresh rate on your monitor is 70Hz or above. If it doesn’t offer an option to go that high, you need to download the proper drivers for your monitor, THEN increase your refresh rate. Anything lower than 75Hz really causes undo strain on your eyes to focus on the pixels.

      1. Right click on your desktop
      2. Select Properties
      3. Select Settings
      4. Select Advanced
      5. Select Monitor (tab)
      6. Increse Monitor Refresh Rate 75Hz or higher.

      Like I said, if no 70′s appear, your monitor driver (verified on these tabs) will say “Generic Driver” You need to note your make/model & download and install the drivers.

      If you already got that handled, I apologize in advance for the redundancy. ;)

    • “Also, make certain the refresh rate on your monitor is 70Hz or above. If it doesn’t offer an option to go that high, you need to download the proper drivers for your monitor, THEN increase your refresh rate. Anything lower than 75Hz really causes undo strain on your eyes to focus on the pixels.”
      This is true of CRT type monitors… but not for LCDs or LEDs.  The CRT has to refresh its pixels either every scan line or every other scan line.  An electron is fired at a pixel, boosts its energy level, and then it gives off a photon, which lights it up, as it falls back to its original energy level.  Such pixels are constantly getting brighter and then dimmer.  A fast refresh rate is needed to fool the eye into thinking that they are on constantly, which they are not.  If the refresh is too slow, it manifests itself as a flickering screen.  This is VERY hard on the eyes and needs to be avoided.
      With an LED or a LCD, a pixel is given a flow of electricity to light up and it stays lit, so there is no constant on / off action there.  These pixels are refreshed every 1/60 of a second only to ensure that tiny energy losses do not affect the screen images and to provide a time for redrawing the screen during animation.  Since these pixels are on until turned off, there is no flicker at any refresh rate.  Some of these can refresh at rates faster than 60 Hz but the difference is not noticeable by the human eye… unlike with CRTs.  
      A 60 Hz CRT will drive me nuts.  I used to use a Sony 19″ G400 monitor and ran it at 85 Hz.  Now, that was sweet back in them thar days. 1280 x 1024 res was good for anything but text.  Because of that, I generally used a weird Mac res of 1152 x 864.  That provided a good combo of legible text and decent res.  :-)

  6. shamus001  thank you for the tip  Lasiks is not in the cards for me  My opthamologist did not recommend it since my eyes are not quite the right shape or something to that effect.  In reality I am Mr Magoo with thick coke bottle glasses. If I did the lasiks I would end up using reading  glasses in any case.  But my present specs make me look more intelligent which in my case is a vital commodity because I am normally a total DA.  Read my posts if you dont believe me
    As for making the computer type brighers it’s also a matter of eye floaters—more than a field—that make it seem like I’m trying to see the screen through a thicket. Plus an incipient cararact in lefty that will need to be removed in a few years
    Aside from that  I am 20/20 in both eyeson a good day with a tail wind and can shoot the ass out of a gnat at 50 yards. 
      I can it Zen shooting.  Not being able to see clearly sometimes I just let loose a bunch of rounds and hope the best. 
    The Gnat? 
    No so lucky  LOL
    But adjusting the screen  I will look into the clarity there  It might be a good solution   thank you

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