Feb 14, 2009

''Stuck In Front Of A Runaway Train''

By Jack Kinsella

One of our forum members summed up the Barack Obama Experience so far this way: "We're stuck in front of a runaway train with no way to escape."

I couldn't have said it better myself. There is a sense of inevitability about it all, like watching two trains approaching one another on the same track. There's nothing you can do but watch the wreck happen.

I caught Glenn Beck's show yesterday and his guest was a guy by the name of Gerald Celente.

Celente claims at his website to have predicted the rise of gourmet coffee, the boom in bottled water, the collapse of the Soviet Union, the last two recessions, the dot-com meltdown, the Crash of '87, the Asian currency collapse of '97 and the war on terror.

Pretty impressive track record, even if one takes into account the fact this is Gerald Celente evaluating Gerald Celente. Again, from his website:

"The proof is in his past — Gerald Celente has earned his reputation as "The most trusted name in trends" by accurately forecasting hundreds of social, business, consumer, environmental, economic, political, entertainment, technology trends, etc."

That's fair enough. So, what does Celente (who says he forecast the Crash of '08), forecast for '09? The Collapse of '09.

"We're going to start seeing the retail sector collapse . . . a lot a empty stores, at lot of vacancies. Also the commercial sector of real estate. . ."

On the viability of the economic stimulus package . . ."You can't spend your way out of problems. You have to produce your way out of problems. This isn't even Economics 101 -- this is Economics for Dummies. You can't print money based on nothing and expect it to fix the problems."