Celente : “The big focus of course is what’s going on in Ukraine, the escalating geopolitical crisis in the Middle East, and the markets. The markets are at bubble levels and in danger of bursting. We just heard from TrimTabs Chairman, Charles Biderman. He’s saying the markets are near the top because they are ‘rigged.’….
“Biderman makes some good points. He goes on to say that wages and salaries, for example, were $7 trillion at the end of 2012. Of course after all the stimulus, Biderman is now pointing out that wages and salaries are only at $7.5 trillion. He then pointed out that when you look at the market cap at the end of 2012 it was $17 trillion, and now it’s $26.5 trillion.
So the zero interest rate policy has clearly juiced the markets. That’s why Biderman is saying the markets are rigged. And it’s not just the United States. You have to look at what’s going on globally. There is a slowdown in Europe, and they are still not calling what’s going on in Greece, Spain, Ireland, and Portugal, a depression, despite the incredible and historically high levels of unemployment and particularly high youth unemployment.
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