For those of you who don't know him, Gerald Celente is a professional doomsayer heard on talk radio and seen on CNBC now and then. Now I don't know where the economy is headed, but this guy's big claim to fame is he predicted the collapse of the housing bubble in 2007, 6 months before it happened. Really. I wish I could have called Gerald 6 months before that as I was trying to sell my house in 2006 and all the offers fell through because no one could get financing. Gerald, using his trends modeling, also predicted the economy would completely collapse, and I mean Mad Max style collapse, like in Germany when you needed a wheelbarrel of currency to get a loaf of bread. He said "I am calling this the Collapse of 2009." Wrong. In January, he predicts the same thing for 2010. He says "I am calling this the Collapse of 2010". He is a broken record and the media wheels him out whenever there is a blip in the stock market or value of the dollar, like over this European debt problem. In 7 months, just wait..it is my prediction he will say "I am calling this the Collapse of 2011." We may be in bad financial times, but I don't see our $100 bills falling to the worth of 1 or 2 pennies as his "trends research" forecasts.
What are your thoughts?
