In an age of high energy costs and constricted supply, inflation and unemployment rose together. Forced to choose, governments and central banks decided to prioritise controlling inflation. Western governments made it harder for trade unions to strike, curtailing the ability of workers to demand higher wages. The US Federal Reserve then administered a severe monetary shock to the world economy. In driving interest rates up to exceptionally high levels, Paul Volcker, the chair of the Federal Reserve, accelerated the de-industrialisation of most Western economies.
The mainstream media will have you believe that the economy is on its way back from the devastation caused by the pandemic, but today’s guest says that the trends tell us another story.
Gerald Celente is the Founder and Director of the Trends Research Institute and publisher of the weekly Trends Journal magazine and he says, “America was the land of opportunity, that is no longer.”
Further, Gerald explains that the “bigs are in charge”: Big Banks, Big Pharma, Military-industrial complex, Big Tech. And as long as the bigs are in charge, the economy is in big trouble.
Hosts Robert and Kim Kiyosaki and guest Gerald Celente discuss what trends are telling us about the future of the global economy and where you should be putting your money.