-- "civil unrest will intensify;" but
-- "(g)iven the trends in play and the people in power, economic collapse at some level is inevitable."
At the same time, corrupted politicians and central bankers will "wring every last dollar, pound or euro from the people through taxes while confiscating public assets (through privatizations) to cover bad bets made by banks and financiers."
It's happening in America as both parties plan more social cuts on top of draconian ones in place, indifferent to human misery and depravation or the hypocrisy of open budget war-making, freeing the world for capital.
Across Europe, it's much the same, corporate and political opportunists capitalizing on a crisis to pillage every asset possible, wreck social economies, destroy middle class societies, neoliberalize workers to despair, shifting maximum wealth upward to elites on the pretext of financial reform that's code language for grand theft.
Calling it "the financial road to serfdom," economist Michael Hudson says it "seek(s) to turn public infrastructure into rent-extracting tollbooths to extract economic rent (a free lunch), while replacing labor unions with non-union labor" to work it more and pay it less.
It's "an asset grab," he says. To achieve it, the financial sector (bandits by another name) needs a "political grab to replace democracy with financial technocrats," cleverly stealing wealth to increase "efficiency" by looting "debt-leveraging (economies) to the point where the entire surplus is paid" to them as interest at the expense of civil societies they plan to destroy, replacing them with unfit to live in wastelands governed by repressive bureaucracies imposing draconian harshness.
"Learn from history," says Celente. Don't "let your mind take a summer vacation. Conditions are rapidly deteriorating and it is imperative to remain on high alert. Another violent financial episode is looming." Anything can trigger it, perhaps when least expected, including:
-- an eroding dollar as Americans realize theirs buys less and they don't have enough to get by;
-- Europe's debt contagion and possible defaults;
-- another false flag terror attack, perhaps one greater than 9/11;
-- a grave natural or engineered disaster; or
-- "any combination of the above" people need to prepare for and be ready; it's too late when they arrive perhaps with martial law, bank holidays, restricted access to deposits, currency devaluations, and other economic and political harshness on top of everything up to now.
In self-defense Celente advises "GC's Three G's: Guns, Gold and a Getaway plan." In mid-July he promises more "practical strategies to cope with the coming collapse" and be able to survive.
On June 15, former Morgan Stanley Asia economist now Yale University Professor Stephen Roach offered his own gloomy assessment, headlining his Financial Times article, "Zombie consumers lead US into lost decade," saying:
"The global economy is being hobbled by a new generation of zombies - the economic walking dead. American consumers are in the early stages of an unprecedented retrenchment."