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Gerald Celente: "The entire system is collapsing"
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US unemployment claims on the rise
Published 18 June, 2010, 02:06
The number of people filing new claims for unemployment benefits in the US has jumped after three previous declines, a sign layoffs have not slowed.
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According to the US Labor Department, jobless claims rose by 12,000 to an adjusted total of 472,000.
What does this mean for the overall US and global economies – are they headed for a more European system?
“No,” said Gerald Celente, the director of the Trends Research Institute.
He continued, “That’s breaking down as well. Now they’re imposing austerity measures. The entire system is collapsing. We’ve been saying this since the crash began in 2008. They’re only trying to pump it up with stimulus money and it’s not working. So, were going to see more unemployment. There is no way they can keep the system afloat by just dumping more money into it.”
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