Instead of focusing on an interest rate hike later this year, investors should be worried about a global economic collapse and stock market crash in 2015. At least, that’s according to renowned trend forecaster Gerald Celente.
“I’m now predicting that we are going to see a global stock market crash before the end of the year.” Celente said in an interview with King World News. (Source: Gerald Celente Just Predicted a Global Stock Market Crash, last accessed August 13, 2015.)
Oil prices continue to slide, commodity prices depressed, and the world’s second-largest company is slowing down faster than many economists had expected before. All evidence suggests that the global stock market crash is imminent.
“It’s not only going to be the Dow, it’s going to be the DAX, the FTSE, the CAC, Shanghai, and the Nikkei. There’s going to be panic on the streets from Wall Street to Shanghai and from the UK down to Brazil,” Celente noted.
Celente is respected for his accurate market predictions. He predicted the 1987 stock market crash, financial crisis in 2008, and the dot-com bust in October of 1999.
He described that commodities prices are back to a low level not seen in a decade. “The reason these prices are down is because demand is down.” The series of financial crises are looming; from Canada already in recession, to Brazil and Saudi Arabia. “This is global and it’s going to hit the equity markets,” he added.
He explained that the crisis already began from the falling commodity prices and slump in retail sales. “We are going to see more fight among the major players [countries] to get more market share.”