Economy AnalysisFirst hour guest, trends analyst Gerald Celente offered commentary and analysis of current events, including the stock market, and Detroit's bankruptcy. "Detroit is a symbol for the loss of American industrial production...They sold the jobs out; they moved them overseas, they moved them to cheap labor markets, and you can see where we are now," he said, pointing out that the Associated Press recently reported that '80% of US adults face near poverty.' When they deregulated the Glass-Steagull Act (which limited commercial bank securities activities) under the Clinton administration, that was the beginning of the end of the American economy, he declared.
News segment guests: Steve Kates 'Dr. Sky', Douglas Hagmann