For the last few years Gerald Celente, publisher of the Trends Journal has come on Tech Ticker and other media outlets talking of a further economic collapse, which he calls "the Greatest Depression."
Here's how he puts it in his Top Trends of 2011 release:
"In 2011, with the bailout funds and arsenal of other schemes to prop up the economy depleted, teetering economies will collapse, currency wars will ensue, trade barriers will be erected, economic unions will splinter, and the onset of the 'Greatest Depression' (a trend we forecasted before the massive bailouts existed) will be recognized by everyone…"
The only way to avoid the coming disaster is do what we did coming out of the Great Depression - start manufacturing quality goods the world wants. "You can't print your way out of this," he argues.
The only way to do that is to improve productive capacity through either manufacturing industrial goods or technological innovation. Otherwise, Celente says the "Greatest Depression" is inevitable.
Here's hoping he's wrong about this "Greatest Depression" he sees coming.
Thank goodness the sun was brilliant and shining.
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