Commercial RE already collapsed. but Celente never anticipated that the Feds would print more money and gave it to the banks to cover the refinancing. The RE crisis is one of the best MSM/corporate directed coverups. Ask any real estate agent on commercial RE. They will tell you what has happened. However the feds actions now props up one of Celente’s predictions, inflation due to excessive paper money printing. Get precious metals, hard assets and food. Middle class will be destroyed by inflation induced by the US Federal Reserve under the encouragement of the US Treasury/Wall Street bankers. It is our only way to pay our enormous debt in lieu of defaulting.
He always says he didn't anticipate something when his predictions don't pan out.