‘Plan for an economic 9/11’: Analysts warn Americans to buy guns and gold, predicting market crash and street riots within a year
Gerald Celente, Harry Dent and Robert Prechter all predicting big trouble
Markets and unemployment figures posting best showings in four years
But analysts say Americans will riot when another Great Depression hits
By Mark Duell
27th February 2012
Just when you thought unemployment was dropping and stock markets were surging back, these three analysts today sent out a stark warning to Americans to brace for another financial crash.
Trend forecaster Gerald Celente advises buying a gun to protect your family, stocking up on gold if the dollar crashes and planning a getaway, so it’s no shock he’s preparing for an ‘economic 9/11’.
Share prices and unemployment are posting their best figures in four years since the recession hit, but Mr Celente, along with authors Harry Dent and Robert Prechter, says the rebound won’t last.
All three were profiled in a USA Today feature on Monday. Mr Dent, who had The Great Crash Ahead published last September, believes stocks are simply experiencing an artificial short-term boost.
Mr Prechter, who had a new version of Conquer the Crash published in 2009, is fearful of today’s economic similarities to the Great Depression and says the brief recovery will fail like in the 1930s.
‘The economic recovery has been weak, so the next downturn should generate bad news in a big way,’ he told USA Today, saying the markets look ‘very bearish’ for the third time in 12 years.
Mr Celente, who works as an analyst at the Trends Research Institute, which he founded in Kingston, New York, has been doom-mongering for years – so his latest concerns are hardly surprising.