As we move into another New Year – it seems to be traditional in our country to make resolutions and predictions about the upcoming year. The last 2 or 3 years have been difficult for us and many of our fellow Americans. This Wednesday night we will look at some of the predictions about 2011.

     Gerald Celente, President of Trends Research Institute, has become famous for his accuracy in forecasting the 1987 Stock Market Crash, the Dot-com bust, Gold Bull Run, 2001 Recession, the Real Estate bubble, the “Panic of ’08”, and Tax Revolts associated with the TEA Party Movement.  He is now predicting the “CRACK-UP of 2011.” He says “with the arsenal of schemes depleted, we predict that teetering economies will collapse, currency wars will ensue, trade barriers will be erected, economic unions will splinter, and the onset of the ‘Greatest Depression’ will be recognized by everyone.”

     CNBC (& NBC & MSNBC) are more optimistic about an economic RECOVERY. Their experts are predicting 3% growth in GDP, DOW up from 11,500 to 14,000, a “Bullish” Bond Market, and an increase in consumer spending. It may be helpful to remember that CNBC/NBC/MSNBC are owned by General Electric yet they failed to report (until a recent congressional inquiry) that GE received $16 Billion in government bailout money. They also failed to “connect the dots” from the bailout to the CEO of GE, Jeff Immelt, who also serves on President Obama’s Economic Recovery Advisory board and is a member of the board of the New York Federal Reserve Bank.   

     In the middle is a financial analyst named Mike Stathis. He is the Managing Principal with Apex Venture Advisors. He has formerly worked for UBS and Bear Stearns. He does not foresee a crash or a crisis. He is predicting a slow “SILENT DEPRESSION” that may last for decades. He says “Real wages won’t budge, inflation for basic necessities will continue to rise, and job quality will continue to decline…You won’t feel the full effects on any given day. But you just won’t be able to make ends meet like in the past. Each year things will get worse so you’ll spend more on credit.”   

     Now you get to make your prediction on the Nearly Famous Northlake Poll!

 Loading ...