Equity markets are overvalued and overleveraged, and a crash on the scale of the last recession could be on the horizon, said Gerald Celente, publisher of the Trends Journal.
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Celente told Kitco News that one possible trigger for such a crash could be an escalating war in the Middle East. “If we have a war that involves Iran, kiss the markets goodbye,” he said.Celente added that in such a scenario, oil prices could spike to $150 a barrel.