July 9, 2002: Economic Forecasting - Gerald Celente

Gerald Celente, founder and director of the Trends Research Institute, joins Art Bell to discuss economic forecasting, trends, and America's prospects after first-hour calls produce the "Bell Comfort Index." Callers weigh in on the stock market's decline, corporate scandals at Enron and WorldCom, the war on terrorism, and ecological concerns, with ratings averaging around four to five.

Celente delivers a stark assessment, rating America's prospects at three. He outlines his theory of the "five O's" driving economic decline: overproduction, overcapacity, overpopulation, open markets, and online commerce. Celente warns that the gap between rich and poor has reached dangerous levels and draws parallels between 2002 and 1932, predicting trade wars, rising nationalism, and potential social upheaval.

The conversation turns to the possibility of another terrorist attack collapsing the economy, the erosion of constitutional rights under anti-terrorism measures, and the risk of middle-class revolution. Celente argues that until the United States stops policing the world and meddling in foreign conflicts, the terrorism trend will only escalate, drawing from predictions he published years earlier.