01/26/11 Stockholm, Sweden – In an interview on Russia Today, Gerald Celente, founder and director of The Trends Research Institute, gives his thoughts on President Obama’s State of the Union address from yesterday. While the president sought to stir up some of his original hope aura, Celente found the speech long on optimism, short on realism, and riddled with inconsistency.
A few highlights are paraphrased directly below, and the actual segment is underneath…
- Celente on Obama now hating bank bailouts – He says how much he hates it, but they are reappointing the biggest banker in the world, Ben Bernanke. They say the lie over and over again, until people believe it. There’s no evidence that if these banks failed, the world would have collapsed. Instead, capitalism would have worked as it was supposed to… The system has to clean itself, it has to cleanse itself, you can’t keep propping up failure. The only people who are emboldened by failure, and are promoted, are politicians and bureaucrats like Bernanke.
- On jobs and revamping the economy – He’s like a coach at half time in the locker room with a team that’s behind. How could he compare the US to these other countries? China has $2.5 trillion in reserves, they can afford to boost their economy. They are the number one exporter in the world. And Germany, they are number two. The US is $12 trillion in debt. These are lines he’s throwing out to people who don’t know any better.
- His conclusion – This is just theater, that’s all it is. You know the saying, politics is the world’s second oldest profession… all you had to do was watch last night’s political theater. It’s not only Obama, they did this under Bush, under Clinton, this is just to get the crowd riled up, and to make it seem like they’re doing something.
Rocky Vega
Rocky Vega is publisher of Agora Financial International, where he advances the growth of Agora Financial publishing enterprises outside of the US. Previously, he was publisher of The Daily Reckoning, and founding publisher of both UrbanTurf and RFID Update -- which he ran from Brazil, Chile, and Puerto Rico -- as well as associate publisher of FierceFinance. Rocky has an honors MS from the Stockholm School of Economics and an honors BA from Harvard University, where he served on the board of directors for Let’s Go Publications, Harvard Student Agencies, and The Harvard Advocate.
The Daily Reckoning is your premier source for making sense of the news Washington and Wall Street generate. Each business day, The Daily Reckoning calls on its stable of world-class writers and thinkers to show you how to get ahead.
Start your 100% FREE subscription to The Daily Reckoning today and you’ll get a free research report, “How to Survive the Fall of Social Security.” Simply enter your email address below to get your free report and join over 495,000 worldwide Daily Reckoning subscribers!
We Respect Your Privacy and We will
Never Share or Sell Your Email Address
Just a small corection…Beeing a politician was the THIRD oldest proffession. The second was pretending you are a messanger of God – ANY God…
About the first I think they are no doubts…
How old is this clip? It seems Celente’s commenting on the SOTU address from 2010 as Pelosi can be seen sitting behind Obama in the “Speaker of the House” spot next to Biden.