Gerald Celente: “When People Lose Everything, They Have Nothing Left To Lose, And They Lose It”

by Ben Hoffman


Some major points:

The repeal of the Glass-Steagall act, which occurred in the Gramm-Leach-Bliley Act of 1999, was a huge contributer to the financial meltdown. (“Gramm” is Phil Gramm, John McCain’s chief financial advisor.)

We don’t produce anything any more. All of our manufacturing has moved to China. It’s almost impossible to find anything not made in China these days.

We had some semblance of a balanced budget before Reagan, who believed that deficits don’t matter. Reagan tripled the U.S. debt. George W. Bush doubled it when at a time when “the fundamentals of our economy were strong.”

If we do go into a depression, as Celente predicts, his prediction that people will “lose it” is right on. People are already starting to lose it, as we’ve seen at some of these town hall debates, as well as some of the high profile murders. It’s the same thing that happened in 1020s and 30s Germany. People lost it. Hatred and racism escalated and people looked for a scapegoat.

9 Responses to “Gerald Celente: “When People Lose Everything, They Have Nothing Left To Lose, And They Lose It””

    • I thought it went without saying. We need to restore the Glass-Steagall Act, bring manufacturing back to the U.S., balance the budget, and keep an eye on right-wing extremists.

      • I like Celente as well. It’s a nice thought to think we can bring manufacturing back to the US, but it was gone the minute the world got online (unless we want to control all the major oil sources and then tax the $hit out of oil).

        Let’s just hope Obama doesn’t send all our rigs to other countries, too.

        [… and keep an eye on right-wing extremists.]
        Haha. The Patriot Act does a pretty good job of that – are you saying you support? 😉

      • [It’s a nice thought to think we can bring manufacturing back to the US, but it was gone the minute the world got online]

        That’s not true. It’s mainly the result of GATT and NAFTA, and the reduction of protectionist policies. Other countries have policies in place to protect their jobs but that’s against right-wing free trade ideology.

      • We also need to keep an eye on left-wing extremists, like the petulant man-child nut-job currently in the White House who would gladly burn the country down just to make a point and get his way.

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