Economic Trends Forecast Weighs In On Jobless Rate
5/3/2013 (Updated 11:14:18 PM)The news of a stock market surge, and a dropped in the jobless rate was received without much enthusiasm from trends forecaster Gerald Celente, of Kingston, New York.
Celente says its a false recovery--driven by artificially low interest rates and unsustainable federal stimulus spending.
So, what would lead to a real recovery, as Celente sees it?
"How about making shirts and shoes? How about manufacturing computers? How about bringing the jobs back home that have been off-shored overseas? And it's more than the jobs that they sent over there, they sent our brain power as well. Do you think the Chinese, the Indonesians, Vietnamese, could have been creating the kind of production facilities and the expertise in manufacturing if they didn't take our brain power as well? So the only way I see this economy improving and the United States going back to the kind of nation it used to be, when they had Endicott Johnson and Brown Shoes and all of these other manufacturers in the United States, IBM, etc, is to bring the jobs back. And you do that by bringing it back to the time before they took down the trade barriers, before they dismantled the Glass Steagall Act that destroyed our financial sector, and bringing back the anti-trust laws that were put in place for the 19th and 20th century, the Clayton Antitrust, the Sherman Antitrust, and the Robinson Patman Act that protected the American people," said Celente
To hear more of Gerald Celente's analysis of economic trends, go to trendsresearchinstitute.com.
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