Economic Forecaster: Economy on a Downward Slide

8/6/2012 (Updated 11:22:57 PM)

What many mainstream anaylsts are saying now, about the economy, is what Trends Forecaster Gerald Celente, of Kingston, New York,  has been saying for the past several years ---that the economy is on a downward slide --and bailouts and favorable treatment to the too bigs to fail will not reverse the trend.
We talked with Gerald Celente Monday  via Skype, from Kingston:

Gerald Celente says:
Nearly 30% of the workers in these great new jobs are receiving poverty-level wages. And wrong again Ben, they lost 195,000 jobs in July. Yes they created 163,000. But we have to look at where they lost and they lost as well. So you're really looking at net losses. Then when you look at the jobs that have been created since March we've lost 750,000 full time jobs. The jobs that are being created are low paying temporary work, part time jobs. That's it. There is no recovery. It's a cover-up. They dumped trillions of dollars into this and have nothing to show for it.---Again, look at the job numbers. Look what's being created. We have a 58.4% employment rate. What kind of jobs are they creating? They sent all our jobs over seas. You're in upstate New York, I have to tell you. Look at that area there, up in Endicott and Jamestown and on and on and on. That used to be the hub of production and manufacturing in this country. They sold us out. So how are they going to create jobs? Look, when you listen to the presidential candidates and their prescription to create jobs in this country, if you would taken Economics 101 and put their plans forward, you would fail. It's nothing more than jive talk and that's all it is. It's not producing anything.--Again, look back when was America was great? When look at the laws that were in place, the Robinson Patton Act, the Sherman Antitrust Act, the Clayton antitrust act, the Glass Steigel act -that prevented bankers from becoming casinos that gamble and when they lose big we have to pay them off. The whole nation has been taken over. It's the greatest bank robbery in world history and the banks are doing the robbing. This isn't an inflammatory statement. It's a fact."

And where is this all leading?
Tuesday at 10PM,  you'll hear Gerald Celente tell us why he says history is repeating itself--depression, economic and trade wars--and finally, a world war.

If you'd like to know about Gerald Celente and his Trends Forecasts-- go to the web at trendsresearch.com


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