Gerald Celente critiques media consolidation and the Israel-Hamas war as a political agenda driving US gasoline prices to $7/gallon. He warns of a 2026 economic downturn triggered by commercial real estate collapse and an AI bubble burst, contrasting Western stagnation with China's progress. The discussion highlights the military-industrial complex's influence, evangelical support for Zionism, and a looming technocratic surveillance state utilizing stablecoins to enforce total financial control over citizens. [Automatically generated summary]
Transcriber: CohereLabs/cohere-transcribe-03-2026, WAV2VEC2_ASR_BASE_960H, sat-12l-sm, script v26.04.01, and large-v3-turbo
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The Changing Face of Journalism00:03:14
All right, joining us now is Gerald Salenti of TrendsJournal.com.
And if you're new to this program, you haven't heard this before.
But Trends Journal, we're going to talk about some of the trends that Gerald is seeing here because things are changing very, very quickly.
But he's been able to see these things from a long way off.
And he's been warning us about what is happening right now, what has happened for quite some time.
By the way, you can save 10% off if you use the code NIGHT.
And it is very, very inexpensive to get it even on a weekly basis.
What is it, Gerald, with that code?
It's like $2 or something a week.
Is that what it is?
$300.50 a week.
And it's about almost 200 pages.
Okay.
Again, from high tech science to AI to geopolitics, economics.
And there's no advertisements in it.
But it's a wonderful online magazine format.
You've got it all laid out there, a very nice presentation that's there, and great information.
That's the most important thing.
Well, you know, we're doing what journalism used to do, but doesn't exist anymore.
That's right.
You were talking about the guy that just died that created CNN.
I got to tell you, in the beginning, CNN was a.
I used to be on CNN like three or four times a month back in the day.
It was a pretty open minded organization at one time.
Yeah, yeah.
Yeah, and I remember I went to a friend of mine in the mid 90s, he was working in the Pentagon, and he.
He got me in to see the place, and they had CNN monitors running everywhere.
And by that time, they're already starting to get kind of politicized at that point.
But I kind of thought, so that's where they're getting their information.
Yeah, but I'm telling you, I used to be on in the 80s and 90s.
I used to be on a lot.
They always had me doing my top trends every year.
I'm telling you, I keep going on and on.
It was, they should let me say whatever I wanted to say.
Then it all changed.
And again, there's no journalism anymore.
Go back to the 1980s.
About 50 companies controlled 90% of the media.
Today, six companies control 90% of the media.
What, in your opinion, changed?
Who was it that management changed?
I mean, was that when you were there and they had kind of an open format where you could say what you wanted to?
That was when Ted Turner was in charge of it, or was that somebody else who was in charge of it?
That's when Ted Turner was in charge of it.
Then they had a merger or they sold it to somebody, right?
Yep.
And then the whole thing changed.
Yeah.
And again, it's heartbreaking that there's no journalism anymore.
So, for example, with the Trends Journal, we go to Tazian News, the Iranian one, Press TV, Fars, Tehran Times.
We want to hear everything the Iranians have to say.
We go to Al Jazeera.
We go to Arab News, whatever the Arabs have to say.
We go to Middle East Monitor, Middle East Eye.
Selling a Heinous Political Agenda00:08:33
We go to Times of Israel.
We subscribe to Hadets, the Israeli newspaper, Jerusalem Post, YNet.
We want to hear everything the Israelis have to say.
We go to DW, the German news agency, France 24, BBC Guardian, et cetera, et cetera.
We say this is what they're saying.
We give all sides.
Mm hmm.
Then we say, this is our analysis and this is our trend forecast.
They don't do that in the American media.
You only get one side of the story.
Yeah, that's right.
It's heartbreaking.
And now there's this talk about, you know, they're rigging the markets.
Trump keeps coming out with a ceasefire, ceasefire.
Brent crude prices go down, markets go up.
Will there be a ceasefire?
No.
And we're telling you why.
One of the major demands of Iran is that Israel must withdraw from Lebanon.
They're not going to do it.
They've already thrown out over a million people out of Lebanon, out of their homes.
Mm hmm.
Yesterday, the IDF chief came out in Israel and said that they're going to, quote, raise more buildings and build a greater security zone in the, quote, territory.
Territory?
Oh, I forgot.
Oh, you were talking about the evangelicals?
Oh, it's chapter six, section eight or something.
God told Abraham or Moses that this land belongs to the Jewish people.
Shove that crap up your you know what.
Don't want to hear your fairy tales.
Oh, the whole world began when Judaism was invented or any other religion.
Oh, they found a skull that goes back, what, 30 million years ago?
No, It began when Moses.
Yeah, I don't want to hear it.
They keep slaughtering the.
It's totally out of the news.
Every day they're slaughtering Palestinians in Gaza.
Can't get any food.
Bombing the hell out of people in Lebanon.
Calm down.
Did Taylor Swift have sex last night?
That's the American news.
Yeah, I was playing a clip of an aerial drone shot that was done by an Israeli soldier, IDF soldier, who was bragging about what they had done.
Complete devastation of Gaza.
And, you know, when I look at this, it's so fraudulent.
It's exactly what they're doing with these evangelical pastors.
They're using a veneer of religion, a false religion.
They're using that to sell this heinous political agenda.
And that's what Zionism has always been about.
And so, you know, when you look at Netanyahu calling people Amalek, and when you look at Ben Shapiro and he's asked, do you believe that Moses parted the Red Sea and delivered the.
Oh, no, I don't believe that.
But I believe that land is mine.
I mean, they're very selective about what they want.
It's very clear what they want.
And, you know, even the ultra Orthodox Jews reject the state of Israel.
They said, no, we think God's going to give it to us, but he'll do it miraculously, and we don't have to kill people to get it ourselves.
It is completely morally and religiously bankrupt what they're doing with Zionism.
Zionism is a made up thing by this clown, Theodore, what's his name, Herzl, back in the 1890s.
It's a political movement.
It has zero to do with religion.
Hey, I'm Joe Biden.
I'm a proud Zionist.
Remember that one?
Yeah.
Genocide, Joe?
Yeah.
Who's in this?
Zionism is a totally made up political movement.
And again, this is not the United States of America, it's the United Zionist movement.
States of America.
Here, this is one of your articles in this week's Trends Journal about, I don't have it here, I can't find a damn thing.
This guy Singer, Elliot.
Paul Singer, isn't it?
Yeah.
About how the money that he's spending to promote Zionism and calls anybody against it Nazis and stuff.
Oh, yeah.
Look at all the money that he and Miriam Madison are putting in to try to get Thomas Massey out.
Because Thomas Massey wants to put the interests of America ahead of the interests of a foreign government.
And he doesn't want to impoverish us with this kind of money.
But, you know, when we look at the defense budget, even, you've talked many times about how to spend trillions for military stuff, but not a cent for peace.
And earlier this week, I talked about a guy who was talking about the coming famine in a lot of different areas because of what is happening in terms of shutting down fertilizer and other basic building blocks of the economy with the Strait of Hormuz stuff.
And he basically said the same thing.
Look, Gerald, I mean, we just had a record budget of a trillion dollars.
We spend more than the next eight countries on defense combined.
And that's not enough.
Heg, Seth, and Trump want to increase that by another 50%.
And when you look at one and a half trillion dollars, what does that work out to be for every household?
I did the math this morning.
How much is that per household that we're paying for this military industrial complex, this defense, this department of war that they want to call it, that is making us less safe?
That works out if we've got 134 million households, because we've got a lot of households now that are just one person.
That works out to over $11,000 per household that we're paying for this American empire.
That's outrageous.
Now, when you look at the taxes that we're paying, it's insane.
And of course, we're not paying the $11,000.
They're putting it on a credit card that's going to get a balloon note when the whole economy crashes in a few years.
Well, interest on U.S. debt is becoming a top driver of future deficits.
Yeah.
And we have the whole article here about how the debt level in the United States is off the charts.
Here's the article, by the way.
Pro Zionist Paul Singer's Elliott Management equates U.S. Israel war on Iran as a fight against Nazis.
Yeah, who's the Nazi?
You got it wrong.
You got it wrong, singer clown.
It's the Ashkenazis that are running Israel.
That's right.
Ashkenazis.
Look it up A S H K E N A Z I. Eastern Europeans from the Khazar region.
That's who's running Israel.
They're not Semites.
Semites are from the Mesopotamia region.
Ben Gurion, Netanyahu, every one of these people are Eastern Europeans.
Invading Palestine and slaughtering the Arab people.
And that's significant because the whole state is predicated on this idea of genetic purity.
And, you know, this is, we're going to have the inheritance we have because of our genealogy.
And yet they scrupulously avoid any tests of that genealogy.
But when you look at it, when we talk about Nazism, as I said, just look at what they're doing and look at what the United States is doing as well.
We have become the monsters that we fought.
I said this when Mark Levin was out there saying, Well, nobody talks about the Holocaust anymore.
It's like, we don't need to.
You mention it every day.
But maybe you ought to look at the Holocaust that you're creating right now because you have basically taken over the reins.
And again, nobody talks about the Holocaust.
How about all the other people that were killed by the Germans?
That's right.
No, don't talk about that.
Oh, they only killed 27 million Russian people.
Mm hmm.
And how about the other people that they threw in these camps?
The gypsies and everybody else.
No, no, they don't count.
They don't count.
Yeah.
No, this is crap.
I don't want to hear their fairy tales.
Ignoring the New Holocaust00:06:42
They could shove it.
This slaughter is going on every day.
It's heartbreaking.
You look at the pictures of what Gaza used to look like before it was bombed out.
Yeah.
You look at the pictures of what Lebanon, where they're bombing, this is upper middle class places.
They're bombing to ruins.
And of course, everybody could see the hate.
I think that was what it was when you had these Israeli soldiers go in and destroy this area.
They had a statue of Christ on the cross and they.
They knock that down, they smash it with smash the face and all kinds of stuff.
So, that was obviously the hatred that was on display that was there.
But as I said at the time, does nobody care about the fact that they are smashing people in the face with these bombs?
The number of people that they're killing there is just absolutely insane.
And as part of the Greater Israel Project, they want to do that to Lebanon, they want to do it to Iran, they want to do it to the Gulf states as well.
Because once they can destroy everything like they have in Gaza, then they can go in and take it over.
And so the whole thing is like a Nazi Lebensraum program.
You know, we need to have some living space here.
Again, they're Ashkenazis.
Yeah.
A S H K E N A Z I.
Well, let me ask you about what's happened in the last couple of days.
Again, you don't believe that they're going to get any real truce or anything.
And of course, they came up with the acronym before they had TACO, Trump always chickens out, that was on Wall Street, saying he's going to change the tariffs, just wait.
And then they came up with Nacho.
Not a chance Hormuz opens.
And so this week, what we saw was they just waved away the 60 day limit on the War Powers Act, which, by the way, doesn't give carte blanche to a president to declare war for any reason.
That 60 days was there supposedly to give them freedom to respond to a threat that was actually real.
And even then, they were limited to 60 days without Congress's approval.
But Congress just waved it away.
Mike Johnson, all the rest of them just waved it away.
Trump said, hey, it's over.
You know, first he said, his first lie was, well, it doesn't count when we had a ceasefire for a week or two.
So we take that off of the time calendar there.
And then he says, and then we've got another 30 days to get the troops out of there if we think that they're in danger.
And so that takes it up to another month.
And then he says, oh, but it's over anyway.
And we're going to rename it something else.
We're going to call it Project Freedom or something, right?
And so that lasted for about a day.
And then there were shots fired there in the Strait of Hormuz.
And there were shots that were fired at the United Arab Emirates.
And so the next thing we know, you know, Trump is blustering along with War Pete about how they're going to destroy everybody and everything, all this stuff, and how they have won the war.
The next thing we see is that there is talk now this morning about how they're going to come up with a one page memo of understanding that's going to end it all.
Do you buy any of that?
No.
No, no.
You see, I believe Trump because he said on April 1st, the war's going to be over in three days.
My prediction.
Mm hmm.
Mm hmm.
So.
I believe everything he's going to say.
So it's already ended.
Yeah.
It ended a month ago, right?
Very soon.
I would say within two weeks, maybe two weeks, maybe three.
Oh, that was on April 1st, too.
Again, every day changes his lines.
He changes his lines even within the same day.
March 2nd.
We have projected right from the beginning four to five weeks.
Mm hmm.
That was March.
That's the war began on February 28th.
Two days later, he said it was going to end in four or five weeks.
Yeah, it's like two weeks to flatten the curve.
We got four to five weeks to flatten Iran.
That was the two parallel things.
I think it's close to over.
Yeah.
I view it as very close to being over.
Yeah.
He's like John Lovett, the liar.
Yeah, that's the ticket.
Yeah, that's what I'm going to say.
So going back, there's an article that came out in the Washington Post today.
Iran has hit far more U.S. military assets than reported, satellite images show.
Yes, yes.
And it goes on to show the mass destruction that Iran has committed as a result of the United States and Israel launching this war.
Will there be a ceasefire?
No.
And I'll tell you why.
Because one of Iran's demands is that Israel withdraw from Lebanon.
And they won't do it.
Yeah, they want that land, that territory, as they say.
Territory.
Yeah.
God gave it to them.
What the hell is the matter with you?
It's in the good book.
Yeah.
I was just talking about the real estate events that they hold in New York City.
They actually go and they steal the land and then they sell it to other Jews in New York City.
That's what they're actually doing.
It's crazy what they're doing.
Oh, it's all over.
I mean, Orange County, it's filled with them over there, and they don't pay any taxes.
So, anyway, this is serious.
Again, Trump says Iran will be bombed, quote, at much higher level if they don't agree to a peace deal.
He just said that today.
You know how many times he said this?
Yeah.
Oh, yeah.
Yeah.
He comes out and he says, yeah, we completely obliterated them.
And then he goes on a rant about how he's not getting any help from NATO.
It's like, I think you're lying out of both sides of your mouth as you're doing this stuff.
The only thing that's been obliterated, Gerald, I think, is his credibility, if he ever had any.
His and Warped.
Yeah, again, but it's so sad that, again, talking about the religions, as I said, how come they're all not out there telling the parishioners to get out into the streets and stop this?
Yeah.
That's my sadness.
Yeah.
Well, you got Israel's foreign ministry is paying big bucks to a lot of church pastors.
To basically cheer for Israel.
Money Rooted in Churches00:13:01
I mean, they're buying them, they're selling it out.
You know, love of money is the root of all evil.
And these people have been rooting in their money.
It's been taking root in a lot of churches here.
They've been sent over a thousand pastors just in December alone.
All expenses paid, trip to Israel.
And you get to have an appearance with Bibi Netanyahu.
Boy, I tell you, that's got to actually change your mind, right?
Oh, you mean Netanyahu's son is living the high life in Miami?
That's right.
That Netanyahu?
Yeah.
I don't know if you ever saw this, but I was really kind of stunned when I saw that Jared Kushner's family was always very close to Netanyahu.
And when he would come to the U.S., he would actually sleep in Jared's bed.
And I said, presumably not when Jared was there.
It's disgusting.
Yeah, it is.
Disgusting.
You know, on the economic front, by the way, you know, we write in the magazine what's going on.
And again, they're doing everything they can to prop these equity markets up.
The markets were going down before this war began.
People forgot about this.
Yeah.
AI is wiping out a lot of software companies.
And they have these hedge funds and private investor groups that loaned a lot of money, and the people that put the money in want it back, and they can't get it back.
So we're going to see a dot com bust 2.0.
It's way, way overinvested in this.
AI spending sets a record with no end in sight.
That was an article from the New York Times.
Yeah.
Yeah.
They're way over investing in this.
Now, trends are born, they grow, they mature, reach old age, and die.
The AI was only born four years ago in 2022.
You don't invest all your money in the infancy.
Let's go back.
You and I remember when the whole Internet revolution began.
Yeah, that's right.
Remember when it began.
Yeah.
And I made that mistake.
I invested in it.
In its infancy, that lesson was drilled into my hide pretty hard, I think, you know, with the dot com bust.
Yeah.
I thought I was playing it smart because I thought, well, I'm not going to bet on pets.com or even on Amazon.
I'm going to look at the companies that are making the axes and the picks of this gold rush that are out there.
I'm going to look at the companies that are making the switching equipment.
That should be a safe bet.
But it wasn't.
That all got taken down.
Yeah.
So now, and you remember all of the computer companies that came out in the beginning.
There were loads of them.
And then just a few took over everything.
That's right.
So going back to this, China is going to lead the world in AI.
Just like they're leading, you see the pictures coming out of their auto show.
Yeah.
And you look at the advancement of the EV vehicles.
And how cheap they are, too.
Yeah.
And they're doing the same thing.
I mean, just had deep.
What is it, DeepSeek?
Is that the one, Travis?
They made headlines and they came out with a large language model that was a tiny fraction of what the American companies were spending on it.
They've done it again and they are taking their rates down where it's basically free to use it online.
It's amazing.
So here's the deal.
You mentioned before about the defense budget, $1.5 trillion.
And by the way, the roads.
In New York, they are a joke.
The throughway everywhere.
The roads are crap.
The country's going to crap, but we're spending all this money on the military, right?
That's right.
The business of America is war, and the business of China is business.
They're spending hundreds of billions in AI.
We're spending trillions on war.
Oh, by the way, Trump, the big news that he's got, oh, pick 5,000 troops out of Germany.
You know, I launched Occupy Peace.
5,000 troops?
How about closing down, what is it, about 600, 700 bases overseas?
Yeah.
How about closing them all down and bringing in the troops home and defend the homeland?
Yeah.
What the hell are we doing over there?
Empire.
Yeah, it's empire.
Yeah.
Made a big deal out of this.
Oh, and they criticized him for doing that.
That's right.
Yeah.
Well, it is.
Close down all the troops.
That's one of the main foundations of Occupy Peace.
Yeah.
Close the bases overseas, bring home the troops, secure the homeland, and put them to work to rebuild our third world infrastructure.
Yes.
Yes.
Give them jobs.
That'd be great.
Rather than putting them in these uniforms to keep doing the stupid crap every day.
Yeah.
But when you look at this, that's not what they're focused on.
They're focusing on exporting our potholes.
That's what.
I guess you drop a bomb, that makes a pretty big pothole.
So, we basically are in the pothole production business.
And again, it does not enhance our safety.
People need to understand there's a big difference between national security and safety.
This is about continuity of government, it's about continuity of empire.
And if anything good could come out of this in the end, it would be that the empire strikes out, not back.
And maybe people could learn a lesson.
This time around.
But you know, it's kind of interesting.
We're talking about the economy.
The U.S. trade deficit is growing.
And with all of the stupidity of Trump's tariff programs, and again, you know, we can talk about different ways to raise taxes.
And there's been a lot of ways that people have suggested that taxes could be collected other than the income tax.
But everybody would always point out we don't want to have this new tax and the income tax as well.
Well, that's what we got with Trump.
We got the tariff tax, plus they keep the income tax.
But his focus.
Has been on ego politics rather than trying to do something.
In the past, when we had tariffs in the early days of America, the tariffs would be enough to fund the entire government.
Later on, they used tariffs for protectionism of certain industries.
They didn't have any plan at all for these things.
This is simply about Trump's ego.
If he doesn't like you, he raises the taxes, and he's done it again.
They just had a deal with Europe, the Turnberry deal, where they said, all right, we're going to have 15%.
On cars, and he just got upset with them over the fact, I guess, that they are not helping with his quagmire that he created.
So he raised it up to 25%.
And it's just this arbitrary nature of what he's doing, but it's not working.
China had record exports, and our trade deficit is growing as well.
So it's not helping with any of this stuff.
And I said this from the very beginning, Gerald.
If they're looking at this and saying, you know, we need to have more of a manufacturing base because we're buying these finished products to a large degree, if you want that to happen, What you need to do is to deregulate and remove your foot off of the throat of the businesses that are trying to start things.
That's the way you compete.
Instead, they want to be like a company, a country that is going to have a partnership with a business and is going to do central planning like China.
They want to take that approach rather than the thing that actually worked for us, which was a more free market and lack of regulation.
The regulations are strangling business right now.
That's the real issue.
And you can't address that with a tariff that doesn't come close.
The regulations in Europe are the bureaucracy is one of the worst, and the same things happen here.
But let's go back to manufacturing and what happened.
This is a t shirt that I did in 1992 when Clinton ran for office.
Yeah, that's right.
Right?
This is a slime ball that wasn't worth a penny that's worth what?
About $130 million now?
Mm hmm.
Hey, get them jobs out of America.
Bring them down to Mexico.
NAFTA.
Oh, everybody forgot NAFTA, huh?
Hey, hey, get the jobs out of here.
We're going to bring China into the World Trade Organization, all right?
Oh, that was 25 years ago.
I mentioned AI.
25 years ago, before China got into the World Trade Organization, 10% of Chinese 18 year olds went to college.
Today, almost 70%.
They're going to lead the world in AI because they are very educated.
Number two, the deal you want to come to China, you got to open a factory here, and we own 51% of it, you own 49% of it.
The Western manufacturers gave China all the high tech and heavy industry technology they never had.
That's right.
Now they got it and they own it.
They lead the world in EVs.
Oh, very important.
Again, trend forecasting, not what you like, what you want, what you wish for.
It's what is.
Let's go back to the Iran war.
It has caused a global energy crisis.
Again.
Yes.
Let's go back to Trump's speech four days before he and Israel launched the Iran war.
I got to find it here.
Just hold on one second.
All right, here we go.
February 24th, he launches the war on the 28th.
Quote, gasoline, which reached a peak of over $6 a gallon in some states under my predecessor, it was quite honestly a disaster.
Now it's $7.00 in California.
It's now below $2.30 a gallon in most states, which was not true.
Yeah.
And some places, $1.99 a gallon.
And when I visited the great state of Iowa just a few weeks ago, I even saw $1.85 a gallon for gasoline.
And we go on to write.
According to AAA, this is yesterday, gasoline prices in most states are $4.48 a gallon.
Just a couple of days ago, it was $4.39.
And over $6 a gallon in some states, thanks to Trump's.
Iran war.
Now remember, he goes on to say that it was a disaster.
And now it's a disaster.
That's right.
It's not just the price of gas either, it's percolated through everything.
But it's reached over $7 a gallon in one county in California.
Yep.
That's close to Yosemite.
And in San Francisco, $6.30.
San Diego, $6.10.
LA, $6.10.
So, be thankful if you're not in California.
What are you talking about?
$2.30.
What are you talking about?
Yeah, that's right.
Yeah.
So, going on to this, again, not whether you like what, there's going to be a huge push for alternative energies.
And we're telling our subscribers to watch what China is doing here.
These are going to be one of the great on-trendpreneur opportunities.
Again, not what you want, what you wish for, what you like, it's what is.
Because this is pushing a lot of governments to spend a lot of money looking for alternative energies.
Yeah, well, you know, it was kind of the whole climate change thing was on the ropes.
Banks and Stable Coins00:11:50
And so Trump is going to basically bring that back.
You know, that was one of, I would say, one of the bright spots of his first administration.
They started pulling back some of these things, but he's going to do more than anybody else to push people away from fuel and that kind of thing, the fossil fuel industry, by his embargo that he's got going on.
That's what I call it.
I call it the Trump oil embargo rather than the OPEC.
Oil embargo, but he's going to do more to drive people towards EVs and all the rest of this stuff than anybody could have done with any of the mandates or any of the Al Gore documentaries.
It's going to be the gas lines and the rationing and all the rest of that stuff.
It's funny how Trump always manages to push these World Economic Forum and UN agendas, even as he says he opposes them.
So now going on to the larger issue, what this war has caused, they're talking about.
Stagflation hitting the world.
It's not stagflation.
The economies are not going to be stagnant.
It's going to be dragflation.
Economic growth is going to decline and inflation is going to increase.
Yes.
These are very serious times.
Again, an article in this week's Reuters reported: quote, several U.S. restaurant chains, including Wingstock and Domino's, reported weakened and expected sales growth.
In the last quarter, saying that soaring gasoline prices caused by the U.S. Israeli war in Iran have forced their customers to cut back on other spending.
Many don't expect consumers to feel relief anytime soon.
Analysts expect other restaurant chains also will show declining sales growth.
Now, what's important about this?
Look at their stocks going down.
You got a couple of.
Here, it's the AI spending.
Is popping up the markets.
You're looking at the gross domestic product of the United States increasing by some 40% just because of the spending on AI.
Yeah.
It has nothing to do with it.
There's no relationship between Wall Street and Main Street.
That's right.
They're totally separate.
Main Street is suffering.
That's right.
And that's something that some economists have been bringing up.
They said this stock market is so narrowly focused.
That's a real warning sign.
The fact that it's not broadly based, but it's just a few companies, as you pointed out.
And with just a few companies going up, it kind of looks like a pen that's ready to bust the bubble, doesn't it?
I'm telling you, there's going to be a dot com bust 2.0.
Yeah, that's right.
It's in front of everybody's eyes to see.
They're way overinvested in these companies.
Most of them aren't making money, they're losing money.
And they're inventing something that, again, China is going to lead the world in.
They're building these huge data centers on and on and on and destroying a lot of beautiful land to do it.
Oh, yeah.
Miserable for a lot of people.
Yeah, that's right.
The one that they just approved, I talked about this earlier in the program, out in Utah, 40,000 acres, two and a half times the size of Manhattan.
And it's going to use more power than all of the state of Utah combined in just that one data center.
It's incredible what they are planning to do.
And again, as you pointed out, they're rushing into this.
And when you look at what is coming out of this, the promise of it, and this is why you were talking about getting in on the early stages of these disruptive technologies is always a very dangerous thing to do.
Because what happens is people get, as was it Greenspan that said, irrational exuberance?
That was his phrase.
So you get this irrational exuberance about something that is really revolutionary.
But it takes a while to iron the bugs out.
And what happens is, all the people who jump in with all this irrational exuberance, when they look at it and they see some problems, they can quickly rush out as well.
And so, if they don't see things just developing just right, you get this massive exodus from the market.
And that's what causes these things to pump up and then to dump.
And I think that's what we're going to see as well.
But you've been talking about for the longest time, because of the policies of the government in terms of quantity of easing, in terms of spending, in terms of interest rates, all the rest of the stuff you said, they're setting us up.
For dragflation.
Not just stagnant, but it's going to drag.
And now we've got this headline here.
This is a guy, Gary Schilling.
Do you know who he is?
He's a legendary economist, they say, known for his 1969 to 70 recession predictions that came out right.
And he is warning of a big downturn in 2026, he says.
And so he says he sees a frozen housing market, collapsing capital expenditures, weakening consumer spending.
He's not even mentioning.
Another big factor that you've been talking about for a long time, which is commercial real estate.
Yep.
Again, the office building bust.
It's there, it's for everybody to see, and nobody's talking about it.
Again, the banks are under pressure.
We have a number of articles in this Trends Journal, by the way, and there was one about banks in here.
Let me just find it real quick.
U.S. debt now exceeds its gross domestic product.
That's one of them.
Mortgage rates keep increasing.
And where's this one?
This spotlight on the housing market.
Housing starts, mortgage rates shifted higher last week.
Few Americans expect to buy homes this decade.
Home foreclosures hit a six year high.
Yeah.
Oh, six year high.
You mean when the COVID war broke out in 2020 and everything was going to hell?
Yeah.
Oh, that.
Yeah.
Yeah.
Trump is back, isn't he?
Yeah.
He's not worried about the housing crisis here in America.
He wants to help Israel take more.
Right?
Here we go.
Banks struggle to offload risk of massive AI loans.
Right here in the Trends Journal.
No one's talking about this.
Hardly reported.
Very few.
Very few.
Banks have another issue that is coming along as well.
Eric Trump said at one of these large crypto things that they had in one of the Arabic countries.
I don't remember if it was Saudi Arabia or the UAE or where it was, but.
He was saying in 10 years, banks are going to be gone.
They're going to be replaced with stable coins.
We had just this last week, Gerald, we had the Clarity Act, which Coinbase's financial officer was saying, This is great.
This is what we've been waiting for.
We need some clarity on the regulations of how this is going to work.
And what they were fighting over was whether or not the stable coins could pay interest on deposits.
And the banking industry got them to say, No, they can't, which I thought was kind of funny since the banks don't pay interest on deposits anymore.
Usually, they're paying less than 1% if you got a savings account.
It's ridiculous, but they thought that was a hill to die on.
But we've got all of these different things.
I mentioned it yesterday.
I just wanted to get your take on this.
I said, what I see happening is a kind of a constitution for the technocracy that's coming out there.
We've had all of these bills about artificial intelligence, green lighting it, as well as shutting down the 10th Amendment, saying you're not going to have any regulations about anything that AI does at the state or local level.
So we've got the Trump AI Act, we've got the Genesis Act, we just had a Guard Act that is out there saying if you're going to use AI, we're going to make sure that you've got to provide.
Biometric identity as well as other forms of ID in order to use AI because we're worried about protecting the children.
Yeah, right.
But then you've also got all the crypto stuff that's happening.
So, between crypto and AI, what I think they're doing is they're setting up a complete control system of surveillance and a permission society.
How do you see this happening?
And let's talk about that from that perspective.
I mean, certainly there's an economic disaster that is approaching.
You said it all.
Again, it's one of our trends journals.
From dirty cash to digital trash.
They want to do it so they know everything you, every penny you spent, where you spent it, what you spent it on, more information about you, most of all, so we get our tax money.
Yeah.
And they're going to create a new coin.
We're doing away with that dirty dollar.
We just got a new.
Orwell could not have come up with a better name than calling it a stable coin.
What's stable about it?
It's an invented nothing thing.
Yeah.
It's not a coin and it's not stable.
Yeah.
Yeah.
So they're going to definitely go.
So they're going to create something.
We got to.
And we just got rid of our debt level because this stable coin is worth more than the dollar.
So we wiped out the debt level.
Travis said they call it a stable coin because you're the cattle.
And again, we're old enough to remember there were savings and loans.
Remember?
Yeah.
The banks, you put money in, you got interest on your money you put in there.
Yeah.
Again, slime ball, lousy, murderous SOB that every time he got caught with his pants down, bombs away over Baghdad.
Gave us the Yugoslav War.
Oh, he also killed the Glass Steagall Act, didn't he?
Yeah, that's right.
Yeah.
Yeah, he killed Glass Steagall and he killed George Bailey all at once.
We can thank Clinton for that.
Of course, as I pointed out many times, Ben Shapiro thinks that Mr. Potter is the hero of It's a Wonderful Life.
Of course, he would.
That's the world that we live in now.
TrendsJournal.com.
Gerald Slenty, thank you so much for joining us, folks.
If you become a subscriber, make sure you use the code NIGHT to save 10%.
A wonderful source of information.
Gerald works very hard on that and it shows.
It's all right there.
Thank you so much for joining us, Gerald.
Appreciate it.
Oh, thank you so much for having me on and thank you so much for all that you do.
Thank you.
The common man.
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But each of us has worth and dignity created in the image of God.
That is what we have in common.
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