“We’re looking at a bailout bubble that’s way bigger than the dotcom bubble before it and the real-estate bubble that we’re now getting out of, or attempting to,” Celente said.“This is unprecedented; the economic system is being restructured,” he said...
“When this bubble bursts, there’s no reinflating it because of the government intervention into it so deeply,” he said.
“As you look through history, it seems like governments become emboldened by their failures,” he added.
Celente pointed out that according to the Italian fascist leader Benito Mussolini, the merger of state and corporate powers was called fascism.
“We could call this fascism lite,” he said, referring to the government involvement in free enterprise. “After these kind of catastrophic collapses, sometimes they’re followed by war.”
My thoughts: This coupled with what Peter Schiff was arguing at his Goggle speech paints a bleak picture. Instead of the end of the recession that many are projecting, we could be at the beginning of a period that will make the transformations to the American economy that occurred during the New Deal look small.
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