turnedNOTburned
Grandview/Columbus, Ohio
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I'm trying not to become one of those "tinfoil hat" people, but, many of his arguments are compelling. Is he just pandering to public fear?
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I remember his forecasts in 2008 predicting gloom and doom. I blew him off as a gloom and doom investor that was waist deep in short sales. Sadly, Many of his predictions seemed to come true.
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Given that, it doesn't seem unreasonable to give the guy some street cred. How far off is he?
ZHC
101 East Main Street, Downtown
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FWIW Celente strikes me as one those broken clock is right twice a day kind of guys. He's no different than permabull types who tell you that everything is going to be great all the time. As long as I've been aware of him he's been apocalyptically negative. In recent memory He was definitely overly negative and wrong about stocks and real estate in 2009 and 2010. He was right about gold but he sure was dead wrong about a lot of other things.
The fact he was right about a lot of things in 2008 I think makes him actually far less likely to be right now just due to reversion to the mean. I doubt many forecasters are correct in excess of 50% of the time. And the fact he makes money off his newsletter pitching economic survival techniques as his primary source of income and such doesn't make me trust his objectivity. He has a pretty strong financial motive to tell you things are going to be bad basically.
I do think he mentions some things that could legitimately happen (The EU in particular is so much trouble I can't believe you don't hear much abou it here), but no one can really know that kind of thing with the degree of certainty he claims and even if they do happen that doesn't mean it will resolve in the way he's implying.
Russia Today in my experience also loves to give airtime to people who say bad things about America so there is a definite bias there as well.:)
Whether Celente ends up being right about this I couldn't say, but I wouldn't use him a sole source for any decisions I would ever make. Just my opinion
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