That's the crux of Celente's 2008 predictions for the U.S. economy where he says schemes and con artists will crawl out of the woodwork, which in this case, may include the gullible who buy into this nay sayer's dribble.
Looking at his website, Celente, a self-described "trends spotter", promotes appearances on brand name television news networks and of course his books - not to mention his Trends Journal, which a copy was sent to AXcess News of Celente's Winter Issue -2008 by a member of his staff.
"When the giant firms fall, they'll crush the man on the street," writes Celente, referring to the collapse of Wall Street - not because of the subprime debacle - but due to the over-exuberance of investment bankers to leverage everything in site.
Celente predicts that the United States is facing an "Economic 9/11" in 2008.
"Just as the Twin Towers collapsed from the top down, so too will the US economy from an Economic 9/11. When the high-stakes speculators, banks, brokerages, and buyout firms that leveraged billions with millions get hit ... everything underneath them will turn to rubble," writes Celente.
Within Celente's "The Trend Journal" newsletter is his predictions for the future, coined as a "Trendpost", in which he writes: "Jobless, broke and nowhere to go, "Self Storage" will soon live up to the meaning of its name. Down and out, thrown onto the streets ... homeless Americans will empty out storage lockers of useless junk ... to store themselves. When Panic strikes, it will only be a matter of time and a question of survival before they move in. Whether on their own or with family in tow, living in concrete and steel 4x8s will be a step up from sleeping in the streets or risking a night at a homeless shelter."
Celente predicts the "security industry will flourish", but he never mentions the fact that if he's right about everyone living in storage lockers, so will the self-storage industry.
Celente's 12-page report moves back and forth, pointing at things that happened this year and slipping in a few "we told you so" comments in referencing prior Trends Journals, which we're sure is as vague as his "Winter Issue-2008" in giving predictions. This latest Journal is sure to get Celente some air time on CNN and other news networks who are lured by drama in the name of 30-second commercial spots.
We predict Celente is preparing to publish another book on "trends" and name it "Economic 9/11" - if he can get enough network TV exposure from his Trends Journal 2008 economic predictions. If ever the glass were half empty - this man sees it drying out and falling to the floor in chards of broken economic dreams when it comes to the U.S. economic future. It was so far fetched we had to cover it.