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Wednesday July 23rd 2014

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Outtakes 10/20/11

OUT OF TOUCH LEADERS In January 2009 he predicted the Tea Party, “Arab Spring” and even the Occupy movement.  Gerald Celente, CEO and founder of the Trends Research Institute, saw it all when I interviewed him.

The self-proclaimed “political atheist” had successfully predicted 12 months earlier on my “IN Your Head” radio show the collapse of the U.S. financial markets. He had also predicted the 1987 stock market crash, the fall of the Soviet Union, the 1997 Asian Financial Crisis, the dot-com bubble burst and the subprime mortgage crisis.

Celente told me in the phone interview that politicians would put the squeeze on taxpayers as local, state and federal governments tried to keep their programs, benefits and pensions while financing stimulus packages and bailout programs.

“There is going to be a revolution, and it’s either going to be violent or peaceful,” he said. “It will be violent if the politicians keep trying to hold on to what they have and keep resisting citizens’ demands.”

People are fed up. They have seen the federal government bail out the major banks and Wall Street stock market firms without receiving any relief on their mortgages, credit card debt or student loans.

Republican governors and state legislatures have cut corporate taxes and funded incentives to attract businesses to their states, while cutting the funds for education, Medicaid and social services.

Barack Obama was elected to change the system, but little change has taken place. His administration has failed to prosecute those who profited from the toxic asset funds created in the last decade and which are now worthless. His stimulus package rescued the banks and the auto industry, but not Main Street.

The ideological gridlock in Washington, D.C. has hurt the economic recovery. During the Clinton administration, the Republican-controlled Congress set aside differences and worked out compromises for the good of the country. Today’s Congress acts like petulant 3-year-olds who have to get their way regardless of the consequences.

People are feeling the squeeze. They are living on the margins, seeing their jobs in jeopardy, sinking further in debt and feeling anxious over foreclosures. And worse, they feel powerless to do anything about it.

Celente shared this old saying from the Bronx, “When people lose everything, they lose it.”

The Occupy movement is an effort to gain some control and force decision-makers to realize the reality of their decisions and indecision. It’s not a Marxist movement, as hate-monger Glenn Beck so badly wants it to be so that he can stay relevant.

It’s people saying that they have had enough. The movement may seem unfocused and its outcomes uncertain, but their efforts do have meaning. Any government or political ideology that overlooks the common people will spawn outcries like the Occupy movement.

Those leaders who understand this will stay in office.