Skip to main content

With Italy Crisis Unfolding, is Europe Headed For Another Meltdown?

Publish date:
Video Duration:

Giuseppe Conte has stepped down as the Italian Prime Minister, and the next prospect, Matteo Salvini, could have protectionist agendas that would further exacerbate the political crisis in Italy and possibly affect all of Europe, said Gerald Celente, publisher of The Trends Journal.

Celente noted that Salvini is riding a wave of inward-looking policies that have gripped the world, not just Italy and Europe.

"It's worldwide. One of our top trends for 2019 is human waves," Celente told Kitco News, citing mass migration out of South America and Africa. "What people are really missing is how big this really is."

Celente said that the last one hundred years saw the global population increase by six billion, and we are now at a point where more and more refugees will be migrating out of their home countries, triggering a global migration crisis.

"It's going to continue to spread, whether it's Italy, the Alternative for Germany, the AfD party in Germany, the Austrian party, the Freedom Party, one after another, more and more against people coming in," he said.

Italy's problems aren't new, and the systemic issues may only be compounding with more debt, Celente noted.

"As far as Italy goes, they haven't recovered from the panic of '08. They're still way down deep in the depths and their debt to GDP ratio is way above the other European countries, so there's no way out, and they're going to increase their debt regardless of the what the ECB does," he said.

Premium Pick: Some Stocks Get Packaged as Losers, but Smart Investors Know They'll Take Off

Top Story: Recession Watch? Why the Market May Be in the 8th Inning of the Business Cycle

Jim Cramer: You Can Buy Some FAANG Stocks Here, But Don't 'Load Up' on Them, Jim Cramer Says

Fantasy Football: Jim Cramer Reveals Who's on His Fantasy Football Radar

Gold: Here's What's Next In the Gold Bull Rally Landscape - Expert

Trivia: This Landmark Building is Just Blocks From Wall Street: Can You Name It?

TheStreet Explains:The Benefits of Using a Credit Card

Subscribe to our Youtube Channel for more videos : Listen our latest Podcasts on Soundcloud

Catch Up: Today's Top News Videos Below

This article is commentary by an independent contributor. At the time of publication, the author held TK positions in the stocks mentioned.

Related Videos