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ROUBINI: Next Year Could Be A Global Perfect Storm—Much Worse Than 2008 Henry Blodget Jul. 9, 2012, 6:07 AM NYU Professor Nouriel Roubini is in Aix-en-Provence. But the French countryside hasn't cheered him up any. In fact, in a new video interview with Bloomberg's Caroline Connan, Professor Roubini has outdone himself, issuing a forecast so apocalyptic that even devout Roubini-ites will be startled by its pessimism. (It's the smoothness, eloquence, and utterly matter-of-fact delivery that makes it so alarming). The fun starts at the 5-minute mark. Here are the highlights, which are delivered in perfect bullet-point format by Roubini, one...

In Chairman Bernanake's doctoral thesis, he "focused on the role of monetary policy in affecting economic activity, and on the historical analysis of the causes of the Great Depression." His thesis and resulting understanding of the negative impact that uncertainty has on business cycles should provide insight on the actions needed by government to resolve our current economic difficulties. In short, Dr. Bernanake understood that "[i]t is shown that increased uncertainty provides an incentive to defer such investments in order to wait for new information" (page 2 of the dissertation). In the same paper, he wrote, "Uncertainty is seen to...

How many of you out there today are asking the same question? Will today be America’s last Independence Day? After three and a half years of Barack Obama the economy is in ruins. The regulations more oppressive. The government is more intrusive. And the future looks bleak. Think of this – Just three and a half years ago– ** In President Bush’s last year in office, 2008, the deficit reached $459 billion. Today, for the third year in a row, the US deficit is over a trillion dollars (and Obama still says it’s Bush’s fault). This is after he promised...

Happy Dependence Day! That is Dependence, D-E-P-E-N-D-E-N-C-E , with a capital "D". Prompted by the Treason of the US Chief Justice in support of a radical communist Muslim US president whose assigned mission is to collapse the US economy and install socialist government infrastructure at every level, while signing over US sovereignty to a child-molesting atheist mental-case in Belgium, I just want to wish Freepers everywhere a Happy Dependence Day. By the power invested in me by my dog, Ranger, I hereby unilaterally declare that July 4th shall henceforth be known as "Dependence Day", when we celebrate the loss of...

Women who own cats are more likely to have mental health problems and commit suicide because they can be infected by a common parasite that can be caught from cat litter, a study has found.

By Dr. Phil Taverna I ran across this book in my travels. And it peaked my interest. Who was the Forgotten Man? According to Amity Shlaes, her book, The Forgotten Man  is someone that will peak your interest for sure. When I first saw the expression, I expected to see a book written by a commie liberal and it was about the plight of the blacks and minorities who can't seem to get a fair share no matter how much money we throw at them.This book is mainly about FDR the biggest commie of the 40's but it also gives you...

We Are Living in a ‘Modern-Day Depression’: David Rosenberg By Aaron Task | Daily Ticker – Mon, Jun 25, 2012 8:13 AM EDT The Federal Reserve cut its growth forecast for the second half of 2012 and 2013 last week, raising concerns yet again about the potential for a "double-dip" recession. While some, notably the cycle watchers at ECRI, believe the U.S. economy is definitely heading for another recession (or already there), Gluskin Sheff's chief economist and strategist David Rosenberg goes a big step further. "We are living in a modern-day depression," he declares. This dramatic statement is based on...

The Black Hole Of Deflation Economics / Deflation Jun 26, 2012 - 11:42 AM By: Julian DW Phillips The Global Picture and Where We Are Now For the last few years we've watched as the Credit Crunch morphed into the Sovereign Debt crisis in Europe, which may re-cross the Atlantic to hit the U.S. Treasury market. During that time, we have watched a series of patch-up jobs on the crisis that have only succeeded in prolonging the crisis without any real structural remedies. We've also watched how central bankers have seen the 'buck' passed to them, when their role is...

It's a cliché that nations and men repeat the same errors, stumbling into various crisises. The locations may change, but the patterns of history remain. The world is teetering on a new Great Depression. Democracies are at risk. In the 1930s there were an estimated two billion people worldwide. Today there are seven billion people in the world; the pressures to feed them and meet their other needs have increased exponentially. It strains relations between nations and within them. In the U.S. the Great Depression began in 1929 and lasted until the Japanese attack on Pearl Harbor in 1941 that...

Wealth implosion: It's not just housing By Tami Luhby @CNNMoney June 19, 2012: 2:32 PM ET NEW YORK (CNNMoney) -- Americans' net worth collapsed in recent years, but don't blame the housing market for it all. A CNNMoney analysis of new Census Bureau data shows that if you strip out the effects of the housing collapse, median household net worth still fell by 25% between 2005 and 2010. The decline was driven largely by the plummeting stock market, which devastated Americans' portfolios and retirement accounts. Overall, median household net worth declined 35% to $66,740 in 2010. The median worth of...

IN what way do you spend your time online? Do you check your e-mail compulsively? Watch lots of videos? Switch frequently among multiple Internet applications — from games to file downloads to chat rooms? Enlarge This Image Brian Cronin We believe that your pattern of Internet use says something about you. Specifically, our research suggests it can offer clues to your mental well-being. In a study to be published in a forthcoming issue of IEEE Technology and Society Magazine, we and our colleagues found that students who showed signs of depression tended to use the Internet differently from those who...

Jay Carney holds the position of White House press secretary — a job considered by many to be one of the hardest and most demanding in any administration. It has been held by such illustrious figures as Dana Perino, Ari Fleischer, Dee Dee Myers and, back in President Bill Clinton’s day, one George Robert Stephanopoulos. As press secretary, the job is to be an administration’s public face, and words must be chosen carefully, because the slightest misstep can come back to haunt both the representative and the administration. So, to help out during this election season, The Daily Caller will...

Economist Paul Krugman had bad news for liberals Netroots Nation on Saturday. During his keynote speech the New York Times columnist admitted that the United States economy was suffering a depression. "We don't have a formal definition, I'd say that a Depression is when things are down, when things are terrible for an extended period of time," Krugman said, reminding them that were even "official" periods of recovery during the Great Depression. "So it is again today," he said. "It's not as bad as the Great Depression - there's a winning slogan," he added cynically.

"And you thought it was bad now... Since the onset of the recession in 2007, pundits have compared the crisis to the Great Depression of the 1930s - but this week's release of 1,000 photographs from that bygone era serves as a reminder of how truly harsh that period was. "

The unemployment rate fell to 8.1 percent because another 522,000 adults quit looking for work and are no longer counted. In the weakest recovery since the Great Depression more than four-fifths of the reduction in unemployment has been accomplished by a dropping adult labor force participation rate—essentially, persuading adults they don’t need a job, or the job they could find is not worth having. In the first quarter, growth slowed to 2.2 percent and was largely sustained by consumers taking on more debt, and additions to business inventory. Gains in manufacturing production have not instigated stronger improvements in employment largely...

By allowing the 2003 Bush tax cuts to retire, taxes will be increasing the bottom rate from 10% to 15% and the 20% bracket to 25%.   is this math correct? :    Raising the 10% bracket to 15% represents what percentage of increase? (Hint: The correct answer is NOT 5%)To those moving from the 10% bracket to 15%, their taxes will be increased by 50%!!   Raising the 20% bracket to 25% represents what percentage of increase? (Hint: The correct answer, again, is NOT 5%)it's s a full-blown 25% increase in taxes   Finally, raising the 35% bracket to...

The US economy has slowed to stall speed. A few lonely forecasters fear that America has already fallen back into recession, replicating the terrible double-dip of 1937. Obama's intended success? The Philly Fed’s manufacturing index dropped suddenly to minus 5.8 in May. The US Conference Board’s index of leading indicators fell in April. Job creation has slipped from 250,000/month to nearer 130,000 in March and April. The Economic Cycle Research Institute (ECRI) says post-War personal income growth in the US has never been this weak for three months in a row without triggering a recession. It has happened ten out...

The Dow sinking.Gold sinking.Oil sinking.Copper sinking.Yields sinking.  We struggled with this, Dear Reader. We meditated. We prayed. We drank heavily.And finally…we overcame the rank desire to say: “We told you so!”As you know, Martin Wolf, of The Financial Times, is the voice of The Economics Establishment. All that is great and good in the field — which isn’t very much — is given voice by Wolf. Then, it is acceptable for policymakers, Treasury ministers, and central bankers, not to mention the people you talk to at cocktail parties.And lo! Here cometh the neo-Keynesian economist. What saith he?He says the world...

Correction Fighting: How Feds Prolong Economic Depressions By Bill Bonner05/16/12 Baltimore, Maryland – “Liquidate labor, liquidate stocks, liquidate farmers, liquidate real estate… it will purge the rottenness out of the system. High costs of living and high living will come down. People will work harder, live a more moral life. Values will be adjusted, and enterprising people will pick up from less competent people.” — Andrew Mellon Down, down, down… Oil is at a 5-month low. Russian stocks are 20% below their high. Commodities are back to 2010 levels. Everything is going down. Even gold. Wait a minute. Since we...

The All-Important Question, Are Major Economies in Recovery? Economics / Global Economy May 15, 2012 - 04:58 PM By: David Galland David Galland, Casey Research writes: For pretty much everyone, no matter where they are located in the economic strata, few if any questions are more germane to making plans for the future than whether the US and other major global economies are in recovery. Getting the answer to that question right is of special importance to investors and businesses. Stating the obvious, if the broader economy really is in recovery, then investors would be well served by investing in...