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July 9, 2002: Economic Forecasting - Gerald Celente
Published 10 months, 4 weeks ago
Description
Art Bell opens the phone lines and asks listeners to rate America's prospects on a scale of one to ten, creating what he calls the "Bell Comfort Index." Callers weigh in on the stock market's decline, corporate scandals at Enron and WorldCom, the war on terrorism, and ecological concerns, with ratings averaging around four to five.
Trends Research Institute founder Gerald Celente joins to deliver a stark assessment, rating America's prospects at three. He outlines his theory of the "five O's" driving economic decline: overproduction, overcapacity, overpopulation, open markets, and online commerce. Celente warns that the gap between rich and poor has reached dangerous levels and draws parallels between 2002 and 1932, predicting trade wars, rising nationalism, and potential social upheaval.
The conversation turns to the possibility of another terrorist attack collapsing the economy, the erosion of constitutional rights under anti-terrorism measures, and the risk of middle-class revolution. Celente argues that until the United States stops policing the world and meddling in foreign conflicts, the terrorism trend will only escalate, drawing from predictions he published years earlier.
Trends Research Institute founder Gerald Celente joins to deliver a stark assessment, rating America's prospects at three. He outlines his theory of the "five O's" driving economic decline: overproduction, overcapacity, overpopulation, open markets, and online commerce. Celente warns that the gap between rich and poor has reached dangerous levels and draws parallels between 2002 and 1932, predicting trade wars, rising nationalism, and potential social upheaval.
The conversation turns to the possibility of another terrorist attack collapsing the economy, the erosion of constitutional rights under anti-terrorism measures, and the risk of middle-class revolution. Celente argues that until the United States stops policing the world and meddling in foreign conflicts, the terrorism trend will only escalate, drawing from predictions he published years earlier.