Mike Gleason, Money Metals Exchange: It is my privilege now to be joined by Gerald Celente, publisher of the renowned Trends Journal. Mr. Celente is a highly sought-after guest on these programs throughout the world and has been forecasting some of the biggest and most important trends before they happen for more than 30 years now. And it’s a real honor to have him on with us today. Mr. Celente, welcome back and thank you so much for joining us again.
Gerald Celente, Trends Journal: Well thank you, Mike.
Mike Gleason: I want to start out by asking you about this massive disconnect between what the economic data is telling us versus what the stock market is saying to the investment world. For instance, we have the lowest rate of expansion in the U. S. economy since the 1940s. China is slumping, as are many other major global economies… not to mention the economic issues over there in Europe. Yet the equities markets continue to make new highs nearly every week with the S&P and the DOW continuing upward into uncharted territories. So what’s going on here? Are the economic numbers really better than what we’re being told, or is the stock market being propped up?
Gerald Celente: The stock market’s being propped up. We said this beginning with Quantitative Easing when it began, and we said that this is not a recovery. It’s a cover-up. The numbers don’t lie. The liars lie, and the markets are lying. You look at the facts, and here are the facts. You had a stretch of merger and acquisition activity unparalleled in world history because they’re borrowing money for nothing and they’re buying up companies. Then you look at the other facts, and the facts are that stock buy-backs are at record highs. What was it, like the first 3 months of this year, you looked at about, what, $160 billion worth of stock buy-backs.
And all this has done is boosted the equity markets. Again, these are the facts, and I know that the people listening to your show want the facts. Ninety-five percent of the wealth created since 2009 in the United States went to that famous 1%. It’s a fact, a fact worldwide. 62 people… everybody knows at least 62 people… imagine the 62 people that you know having more wealth than half the world’s population combined.
This post was published at GoldSeek on 22 August 2016.
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