Gerald Celente, a popular gloom and doom blogger and publisher of the TR Journal finally gives a date for the always coming economic collapse that I must have been hearing about for 5 years now.

WLW Radio - 30th April 2014

"Your predicting an economic collapse, when do you think that is going to happen Gerald?"

"I am going to say by the end of the second quarter." - Gerald Celente

Apparently the straw that broke the camels back was the bad U.S. GDP data for Q1 of just 0.1%, currency devaluation and Fed QE. Though off course the GDP numbers for Q1 were bad, this was more or less EXPECTED, apparently all it takes is a few days of sunshine for everyone to have forgotten snowmageddon for much of Q1.

This is what I expect to happen for Q2 - A STRONG U.S. economic rebound that recoups much of the weakness of Q1, in fact I would not be surprised if U.S. April to June GDP comes in as high as above 1% (including any upwards revision to Q1), never mind collapse!

Now back to Gerald on his expectations for Q2 economic collapse, great to finally have a date on it!

Though googling I can see that according to Celente the U.S. was supposed to have already collapsed about a dozen times by now for instance in this video of 25th Oct 2013 the U.S. was supposed to have collapsed in Q1 2014 when it GREW by 0.1%!

"I believe it is going to happen in the first quarter of 2014". To save you listening to the whole 23 minutes fast forward to around 16.30.

If everything is still ok by 1st July, I guess the next video will say economic collapse by end of Q3, then Q4, and on and on it goes....

Nadeem Walayat

http://www.marketoracle.co.uk

Nadeem Walayat has over 25 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis focuses on UK inflation, economy, interest rates and housing market. He is the author of four ebook's in the The Inflation Mega-Trend and Stocks Stealth Bull Market series.that can be downloaded for Free.

Nadeem is the Editor of The Market Oracle, a FREE Daily Financial Markets Analysis & Forecasting online publication that presents in-depth analysis from over 1000 experienced analysts on a range of views of the probable direction of the financial markets, thus enabling our readers to arrive at an informed opinion on future market direction. http://www.marketoracle.co.uk

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Comments

R.E.B
04 May 14, 16:44

End of world NOT nigh!

Who knows when the next downturn will come, but come it will and there is so much debt in the system it is sure to be a major crisis. However, the problem with all these "US to go into 3rd world" type predictions is that they seem to totally ignore the mess the rest of the world is in. In reality China has had the biggest credit bubble not the US. Europe is a basket case, and the idea being propagated that Russia is on its way back to superpower status because they invade Crimea is in my opinion preposterous. Furthermore, I do not believe the collapse will be followed by a mad max scenario. Rather it will be a period of economic pain that will force some kind of reset to the monetary/debt system, and then the world will carry on turning. Technology will march on, and people will carry on. So, economic crisis yes, end of world? Not by a long shot!!

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