Global Economic Tremors

Tuesday, December 20, 2011
By Paul Martin

by Stephen Lendman

On December 17, Gerald Celente told On the Edge host Max Keiser:

“The entire financial system is collapsing. Look what’s going on in China. All of the empty buildings. Look at the home sales and real estate market. They’re in steep decline now.”

“The only way they kept this global ponzi scheme afloat following the 2008 panic is for the central banks around the world to keep juicing money into the system to keep it going, and now it’s collapsing.”

“When all else fails, they take you to war….They’re going to do it again.”

A year ago, Celente’s predictions were spot on. He said “America’s trend is nowhere bottomed, and the worst is yet to come.” Now it’s happening in real time as debt piles on more of it, politicians are gridlocked, and conditions ahead look grim.

He said “(t)eetering economies will collapse, currency wars will ensure, trade barriers will be erected, (and) economic unions will splinter.”

Today, Eurozone countries are in sovereign debt crisis. Currency wars are happening, and America and China trade barbs.

Out of work, money and indebted, “legions of on-the-edge desperate (people) will do whatever they must to keep a roof over their heads and put food on the table.”

Today, “(t)hieves are stealing copper piping and cables, cooking oil and temple donation boxes. Criminal recycling is flourishing. In 2011, a record number of cyber crimes is reported….more than 23,000 per month.”

During hard times and growing poverty, “authorities will intensify their efforts” to get funds for their fiscal obligations.

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