Financial Markets Panic, Euro Riots Rage, While US Obsesses Over Gay Marriage
by Gerald Celente
May 17, 2012
World stocks register double digit losses as worries grow that Greece may exit the single currency union. The escalating eurozone debt crisis and deepening economic slowdown in China are crashing commodity prices. After promising it would not bail out anymore banks, depression ravaged Spain is bailing out Bankia, it’s fourth largest lender. Day after day, week after week, massive citizen protests erupt in depression/recession ravaged cities across Europe.
On the geopolitical front, America expands its military involvement and drone strikes in Yemen. The civil war in Syria rages as “rebels” terrorize Damascus, killing scores and wounding hundreds. Rhetoric between China and the Philippines heats up over the tense territorial standoff in the South China Sea. Afghan troops kill more US/NATO troops. War in the Sudan, Iran/Israel nuclear standoff, more bombs blasting Baghdad … Bahrain, Egypt, Tunisia, all in turmoil.
On the economic front, we have forecast each and every one of these trends: The Greek bailout would not work, the eurozone would splinter, banks would get more bailouts, austerity measures would inflame the masses, class warfare would escalate and China would falter.