Bob McCarty Writes

Describing it as a developing story, Fox News Channel’s Bret Baier just reported that President Barack Obama was briefed today about “the next big financial shoe to drop” — commercial real estate.  It dovetails perfectly with what I reported nine months ago in a post, Trendwatcher: ‘Crash of ‘09? Will Be Worst Ever, and portends of more radical financial shenanigans — bailouts, stimulus packages, etc. — coming out of Washington, D.C.

Gerald Celente

In that post, I cited the bold predictions made by Gerald Celente, founder of the Trends Research Institute, who tracks all kinds of trends, including the economy.  During an appearance on The Glenn Beck Show Feb. 10, Celente made the bold prediction that an upcoming “Crash of 2009? is going to be worse than the Crash of ‘29 — and worse than any crash before.

While seeking more detailed information about Celente, I found a two-part recording of an appearance he made on Los Angeles radio station KFI-AM 640’s John and Ken Show Feb. 6.  Below are the highlights — or, in reality, the lowlights — that lie ahead, according to Celente:

• The commercial real estate market will collapse;

• People will be unable to pay their credit cards;

• Crime will increase as people who feel they have nothing left to lose will begin to commit acts of violence;

• People will begin to revolt against taxes; and
  

• We’re going into a depression, not a recession.
  

Listen to the entire interview by clicking on these links: Part One and Part Two.

Buckle up, America!  Looks like we’re in for a bumpy ride.