[Scutter]

Summary: He says that what Obama is doing is defined as Fascism. There will be tent cities, massive unemployment, boss-nappings, etc. He says you can’t print money in massive quantities, backed up by nothing, without destroying the economy. He says the “too big to fail” mantra behind government buyouts is exactly the wrong thing to do.

[Lazamataz]

• Some of Celente's most dramatic predictions, such as the U.S. stock market crash of 1987 and the Asian economic crisis in 1997, lack internet-archived documentation, as illustrated in this article from the year 2000. There exists little internet-archived media coverage of what Celente said of these events before they occurred...
• In certain cases he appears to have reversed himself within a short time. In a September 2000 Parade magazine profile by Michael Ryan, Celente was quoted as saying, "We're not going to have significant inflation or recession for the foreseeable future."[17] Yet three months later, offering new year's predictions picked up by a number of US newspapers, Celente voiced a substantially different opinion. The New York Daily News reported that according to Celente's annual release, "the U.S. economy will continue to plummet and be unable to avoid recession."[18] A slightly more moderate prognosis appeared the same day in USA Today: "A pre-recessionary economy will shape markets. The financial market dive that began at the end of this year will continue through 2001."[19]
• At the end of 2005 he claimed the next year would see a popular movement for some US states to secede. No such movement emerged, and a year later instead he predicted a trend toward "civility" and "healing" in the country.
• Among the predictions specific enough to be evaluated, some have been clearly off base. He predicted that in 1994 a major trend of rising "ubiquitous" crime in US cities would begin.[21] Instead, according to FBI figures, US violent crime rates declined every year for a decade and property crime diminished to levels well below that in 1993, when he made that prediction.[22]
• In 1997 he said that 1998 would see a "mad cow" stock market of unprecedented volatility and ultimately a large negative correction. The 1998 market was indeed more volatile than in immediately prior years, but it was hardly on an unprecedented scale and the year in fact enjoyed substantial net gains on indexes such as the S&P 500, which rose by almost 27%, in contrast to the 25% to 35% drop he envisioned.[23]
• In his round of forecasts at the end of 2000, Celente predicted in 2001 a global wave of anti-US sentiments relating to US popular culture "with its emphasis on violence, mindless consumption, fake sex and real stupidity."[24] No such wave happened, although over the years he has reiterated a plethora of similar domestic and international scenarios involving some form of backlash to US consumerism and materialism.
• For 2006 he said that US exports would suffer due to negative publicity resulting from Hurricane Katrina. However, exports of all goods, and specifically of consumer products, which presumably would be most affected given his reasoning, increased by roughly the same real-dollar amount in 2006 as they had in 2005.[25][26]

  .... and most tellingly.....

• But probably most famous are his stories of impending economic mayhem, which he has described in the most extreme terms. In 1992, at a time when trade reforms were much in the news, he claimed there would be a "another Great Depression" due to trade barriers and protectionism. By late 2001, Celente opined that there was greater than a 50% chance of a massive international depression chiefly due to excess production, although ironically also the presence of markets relatively free of trade restrictions. In that instance he added that corruption and post-9/11 fears were also somehow feeding the depression. Five years later, when he correctly predicted the recession which started in 2007, he attributed it to low incomes and high consumer debt.[30] As that recession was looking severe indeed, Celente issued more stern predictions of an "economic 9/11" and a "panic of 2008" that was rooted in overspending by consumers and would be "worse than the Great Depression."[31]