Former Goldman Sachs Analyst Charles Nenner Joins Marc Faber and Gerald Celente in Predicting Major War → Washingtons Blog
Former Goldman Sachs Analyst Charles Nenner Joins Marc Faber and Gerald Celente in Predicting Major War - Washingtons Blog

Thursday, March 10, 2011

Former Goldman Sachs Analyst Charles Nenner Joins Marc Faber and Gerald Celente in Predicting Major War

I noted in 2009:

The claim that America would launch more wars to the help the economy is outrageous, right?


But leading economist Marc Faber has repeatedly said that the American government will start new wars in response to the economic crisis:

Is Faber crazy?

Maybe. But top trend forecaster Gerald Celente agrees.

As Antiwar's Justin Raimondo writes:

As Gerald Celente, one of the few economic forecasters who predicted the ‘08 crash, put it the other day, "Governments seem to be emboldened by their failures." What the late Gen. William E. Odom trenchantly described as "the worst strategic disaster in American military history" – the invasion of Iraq – is being followed up by a far larger military operation, one that will burden us for many years to come. This certainly seems like evidence in support of the Celente thesis, and the man who predicted the 1987 stock market crash, the fall of the Soviet Union, the dot-com bust, the gold bull market, the 2001 recession, the real estate bubble, the “Panic of ‘08,” and now is talking about the inevitable popping of the "bailout bubble," has more bad news:

"Given the pattern of governments to parlay egregious failures into mega-failures, the classic trend they follow, when all else fails, is to take their nation to war."

As the economic crisis escalates and the debt-based central banking system shows it can no longer re-inflate the bubble by creating assets out of thin air, an economic and political rationale for war is easy to come by; for if the Keynesian doctrine that government spending is the only way to lift us out of an economic depression is true, then surely military expenditures are the quickest way to inject "life" into a failing system. This doesn’t work, economically, since the crisis is only maksed by the wartime atmosphere of emergency and "temporary" privation. Politically, however, it is a lifesaver for our ruling elite, which is at pains to deflect blame away from itself and on to some "foreign" target.

It’s the oldest trick in the book, and it’s being played out right before our eyes, as the U.S. prepares to send even more troops to the Afghan front and is threatening Iran with draconian economic sanctions, a step or two away from outright war.

A looming economic depression and the horrific prospect of another major war – the worst-case scenario seems to be unfolding, like a recurring nightmare ...

Forecaster Celente has identified several bubbles, the latest being the "bailout bubble," slated to pop at any time, yet there may be another bubble to follow what Celente calls "the mother of all bubbles," one that will implode with a resounding crash heard ’round the world – the bubble of empire.

Our current foreign policy of global hegemonism and unbridled aggression is simply not sustainable, not when we are on the verge of becoming what we used to call a Third World country, one that is bankrupt and faces the prospect of a radical lowering of living standards. Unless, of course, the "crisis" atmosphere can be sustained almost indefinitely.

George W. Bush had 9/11 to fall back on, but that song is getting older every time they play it. Our new president needs to come up with an equivalent, one that will divert our attention away from Goldman Sachs and toward some overseas enemy who is somehow to be held responsible for our present predicament.

It is said that FDR’s New Deal didn’t get us out of the Great Depression, but World War II did. The truth is that, in wartime, when people are expected to sacrifice for the duration of the "emergency," economic problems are anesthetized out of existence by liberal doses of nationalist chest-beating and moral righteousness. Shortages and plunging living standards were masked by a wartime rationing system and greatly lowered expectations. And just as World War II inured us to the economic ravages wrought by our thieving elites, so World War III will provide plenty of cover for a virtual takeover of all industry by the government and the demonization of all political opposition as "terrorist".

An impossible science-fictional scenario? Or a reasonable projection of present trends? Celente, whose record of predictions is impressive, to say the least, sees war with Iran as the equivalent of World War III, with economic, social, and political consequences that will send what is left of our empire into a tailspin. This is the popping of the "hyperpower" bubble, the conceit that we – the last superpower left standing – will somehow defy history and common sense and avoid the fate of all empires: decline and fall.

I certainly hope Faber and Calente are wrong. But they are both very smart guys who have been right on many of their forecasts for decades. Even when their predictions have been viewed as extremely controversial at the time, many of them have turned out to be right.
Yesterday, former Goldman Sachs technical analyst Charles Nenner - who has made some big accurate calls, and counts major hedge funds, banks, brokerage houses, and high net worth individuals as clients. - told Fox News that there will be “a major war starting at the end of 2012 to 2013”, which will drive the Dow to 5,000.

Therefore, says Nenner:
I told my clients and pension funds and big firms and hedge funds to almost go out of the market, almost totally out of the market.

As I have repeatedly documented, influential Americans are lobbying for war in order to save the American economy - what is often called "military Keynesianism". But as many economists have shown, war is - contrary to commonly-accepted myth - actually bad for the economy.

Of course, someone other than the U.S. might start a war.

Given that bad economic policies are leading to unrest globally, it is impossible to predict where a spark might land which leads to a wider conflagration.


  1. War with Iran as the equivalent of WW3? I want some of what Gerry is smoking.

    War with North Korea would be closer to the big one because it would pull in China and probably Russia but I still find the overall prospect(s) somewhat fantastical. What? China is going to keep lending money to America so it can go to war with China or China's friends! Right.

    America will go to war with itself (see Russian Revolution, French Revolution, state of Wisconsin, V) before it tackles anybody else - apart from pathetic countries like Iraq, Afghanistan and Pakistan that it can easily bully but more importantly use as a proving ground for its new and improved robot army (see Germany perfecting its freshly minted instruments of war in Spain circa 1936). Plus there's the added bonus of keeping all those prosaic flesh and blood mercenaries I mean contractors off the domestic unemployment rolls.

    Today's popular 'war' prognosticator's lack imagination but they are no different than their counterparts of 100 years ago. Just read how ready everybody in Europe was for WW1. Most people including the statesmen didn't have a clue until the end of July 1914.

    Now I'm sure there are still some very active imaginations in the Pentagon but they aren't in the habit of speaking to the press about their interesting little scenarios. Just wait until we (Canada) elect an ultra socialist government (yes, I know hell will probably freeze first) and see what happens when it nationalizes what's left of our resources.

  2. The rule of the human jungle, the rule by chaos, jaw bone diplomacy, “take what you want” colonial conquest philosophy has evolved into criminal “sophisticated financial instruments” and their predatory profit making applications is not for the better condition of humanity and fair trade but for the profit of a few criminal blood suckers.

    Like Vampires, they are never satisfied and need more than the last record profit (oil spike), humanity is just the means for more profit and power. If you can’t pay, they want you dead that applies world wide as they steal everything that you do have.

    These people are insane and they lead us with corrupt proxy government insanity as they try to drive humanity back into the dark ages with class and economic warfare. Look how far they have advanced (our decline) in the last 10 years.

    Chaos is bankster profit, war is bankster profit, and the banksters are always on the supply and control side of the chaos equation. They bet and supply both sides against the middle and make profit in the billions for the death of millions. In the end they control the currency and the economy of the winner.

    Now, apply the US self-destruction policy on a world wide basis. It makes no difference if you are an American Main Street Free Market Capitalist, Communist or a Socialist, the criminal banksters and their totalitarian world structure will own and control you in the end and destroy your national sovereignty and government.

    Will the criminal Traitors hang or succeed? So far they have been successful but they still might hang for their crimes, time will tell.

  3. I'd be interested to see a study on Nenner's predictions. I doubt he'd be batting 0.300 , which is decent in baseball but very average in the markets. I do know he called for market tops for the last year, as well as precious metal tops.

    Celente makes his money off of negative doom & gloom predictions. I find him generally unconstructive for humanity, although he does call out those in charge.

  4. Let me guess the date for the “... major war starting at the end of 2012 to 2013”, which will drive the Dow to 5,000."

    It seems the Mayan calendar tells me it's December 21, 2012.

  5. War with Iran, or any attack on Iran by Israel and/or the U.S., will trigger an escalation of wars throughout the Middle East. It could be a domino effect that spirals out of hand as China and Russia have strategic interests in the Middle East in general and in Iran specifically.

  6. hetty,

    What Gerry's smoking is oil. Neither of the Koreas is of strategic importance to the US. They aren't the center of gravity for the world's largest remaining hydrocarbon reserves. Iran is. If the US goes to war with it, Russia, China, and India's strategic interests are all threatened. So the WWIII equivalency is close enough. Fortunately, windcatcher is probably right...a civil war right here is looking just as likely.

  7. I too study market price by time and value on the Dow Industrial Average. The rises and declines far too often to be coincidence are exactly the same and often equal to past annual lows and highs.

    The recent high of 12391 on the Dow will lose the '94 low of 3525 points to fall to 8866.

    The Dow will hit 8866 as early as the end of March,2011. The earthquake in Japan is likely to be the active ingredient to set the world on this immediate MACRO PRICE decline. I had thought it would be oil and Gadhafi and it may still be with the Quake thrown in.

  8. Missing from this article are any ideas about how to stop this train wreck before it goes off the cliff, with all of us aboard. I have a modest suggestion to avoid civil war: stop feeding the oligarchy, confiscate their ill-gotten wealth, and return it to the treasuries of the several states (not the fed), where it belongs. Then, the States can create a new Federal Government that follows the constitution, and dissolve the present "government," which is in reality just a puppet show put on by the oligarchy. I flesh out this proposal a bit on my blog,

  9. It's not so much the poor economy that makes nations go to war. It is the massive inflation that destroys the social structure. Inflation creates the most anger of anything.

  10. Those of you who question Nenner's batting average or that of the others should do your homework.

    These men are right more often than wrong by a large, large, margin.


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