Posted on 07/19/2009 6:59:16 PM PDT by Kartographer
So all those stimuli and bailout things didn’t work out? Whodda thunk! They were union/ACORN/DemocRAT ideas too! Damn!
Marc isn’t the only one predicting a crash. One economist said to invest in ‘canned goods’.
His website:
http://www.gloomboomdoom.com/
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I'd say it's a full-scale panic. Are you having a run on the banks yet? It's brutal here. We're telling clients to invest in canned food and shotguns. |
Washington's Dilemma: This Isn't A Recession, It's A Collapse
And besides, Roubini said the recessions over.
no he didn’t, media been misreporting him
Swine Flu Threatens Deflation Slump, Ernst & Young ITEM Club Report Warns (UK)
"Britain risks sliding into a long deflationary recession if the H1N1 swine flu pandemic develops along lines predicted by the Government, according to the Ernst & Young ITEM Club report today."
[snip]
It will not have arrived, until the various levels of government default. But get ready, and buy only necessities.
Fiscal Ruin Of The Western World Beckons
"For a glimpse of what awaits Britain, Europe, and America as budget deficits spiral to war-time levels, look at what is happening to the Irish welfare state."
[snip]
Great Link. I think he is right and they will have to print money.
parsy, who has canned goods
So, what did he say, then?
Roubini: Views On Economy Unchanged Despite Reports
Published: Thursday, 16 Jul 2009 | 5:51 PM ET
Nouriel Roubini, the economist whose dire forecasts earned him the nickname "Doctor Doom," said after markets closed Thursday that earlier reports claiming he sees an end to the recession this year were "taken out of context."
"It has been widely reported today that I have stated that the recession will be over 'this year' and that I have 'improved' my economic outlook," Roubini said in a prepared statement. "Despite those reports ... my views expressed today are no different than the views I have expressed previously. If anything my views were taken out of context."
Several business news outlets, picking up on a report initially from Reuters, earlier Thursday cited Roubini as saying that the worst of the economic financial crisis may be over.
[snip]
Oh crap...we are all going to die.
You also want a bomb shelter, and if you live near a strategic target, a blast shelter.
The Russians/Soviets and Chinese WILL pick us off if we fall. No ifs, ands, or buts about it.
Unbelievable what boards will do to avoid the inevitable:
CIT Group Inc. was close to securing $3 billion in last-minute rescue financing from its bondholders Sunday in a deal that should keep the struggling firm -- once the largest issuer of small-business loans in the U.S. -- out of bankruptcy court, people familiar with the matter say.
[snip]
This is nothing more or less than a bet on an imminent economic turnaround and return to at least trend growth.
Sorry folks, that's a bet you will lose, and then CIT's creditors are going to wind up with even less in the inevitable bankruptcy that will follow, as the value of the remaining assets will have been diluted further by this "side deal."
The creditors need to file an involuntary petition against the company here and now to preserve what's left of their investment.
No doubt about it. My husband and I have talked about that for a while.
Good for you.
El Nino Threat Blows Commodity Prices Higher
With the El Niño-Southern Oscillation (ENSO) on the horizon and concerns over food shortages, crops are locked in a bull market.
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