Topic: Retail Sales

Celente warns that at least 30 banks are currently ready to default, citing the work of Pam Martens at Wall Street on Parade. He notes that retail sales are flat while gas prices are rising, which will eventually crash the equity markets. He predicts oil will spike above $130 a barrel if the conflict between Iran and Israel expands.

Recent data showing the sharpest drop in U.S. retail sales for 2022 is discussed as a sign of a deepening recession. Celente notes that even holiday shopping and restaurant dining have declined significantly as consumers are "pinched out of money." He reiterates that the global economy is failing and that the ruling class will likely use war as a distraction from the collapse.

Retail sales fell 0.6% in November, but Celente argues the real decline is much steeper when adjusted for actual inflation, which he estimates at 15%. He claims the "banksters" are intentionally destroying the economy to maintain control over the labor market. The segment warns that when economic systems fail, leaders typically resort to war to distract the public.