ALERT: Celente Just Warned Contagion Is About To Engulf The World
KingWorldNews.com
September 05, 2018
Today the top trends forecaster in the world, Gerald Celente, just warned that the world is about to be engulfed with contagion.
Global Contagion Coming? Yes
September 5 (King World News) – Gerald Celente: As evidenced in our Trend Alerts, we were among the first to warn that worsening economic instability in Emerging Markets could trigger a global equity market meltdown. The fear of that contagion has intensified as the crashing Argentinean peso and Turkish lira have escalated a broad EM currency sell-off.
The trend is clear: The higher the United States Federal Reserve raises interest rates, the stronger the U.S. dollar grows, and in turn, EM currencies weaken. And the lower their currencies fall, the costlier it is for EMs to pay back some $63 trillion in debt, much of it dollar based.
Moreover, the deeper EM currencies sink, the higher their inflation rates rise. In Turkey, for example, where inflation is up over 100 percent this year, the country’s lira has lost 40 percent of its value against the dollar since January. And, while the country has vowed not to raise interest rates, Turkey’s central bank said its “monetary stance will be adjusted” at its September meeting to address “significant risks to its price stability.”…
The Rest…HERE
