The world is at severe risk of a global systemic financial meltdown and a severe global depression

RGE Monitor ^ | Oct 9, 2008 | Nouriel Roubini

[AmericanInTokyo]

Since it was a photo taken somewhere today (Friday) Asian time, it was a fellow in one of the Asian markets. I am wagering the SENSEX Exchange in Mumbai, India.

But we will just nickname him "Wall Street Boy" anyways.....

[WilliamofCarmichael]

The world is at severe risk of a global systemic financial meltdown and a severe global depression

Again? Already?

We just had one about eleven years ago. Darn.. and another one about ten years before that and . . . .

[caver]

Good rant! I agree. All this negativity that has been orchestrated by the media and the libs is getting old and annoying. Yes, I would like to take a ball bat to some of these MSM fools. That I would enjoy........

[SLB]

Mrs SLB and our two daughters who are still living at home with us went to Texas Roadhouse for dinner two nights ago. The steak was great!

I made my mortgage payment yesterday - due the 10th so paid two days early.

I looked at my Thrift Savings Plan account last night - I moved the majority into a bond fund sometime back which is going up.

We have tickets to Actor’s Theater in Louisville for tomorrow night and plan on making it a night on the town with dinner somewhere prior to the play.

Did I tell you we graduated from Dave Ramsey’s Financial Peace University eight years ago and do not own a credit card? Only use a debit card so we have NO consumer debt except for the mortgage payment. You have no idea how great it feels to pay cash for a car.

[bmwcyle]

And what does the Bible say? Start reading everyone.

[DoughtyOne]

Well I wouldn’t actually enjoy it, but figuratively, I could.

[justa-hairyape]

We'll see when they start to implement it.

By then it will be too late. We are way beyond a credit problem now. Major Japanese Companies are starting to declare bankruptcy. Stock exchanges are closing around the world (Russia and Jakarta). Don't know how any DC bailout plan can possibly save the worlds stock markets. Anyone expecting Bush, Pelosi, Frank, Reid and Dodd to fix this problem is living in a place where ignorance is king. About the only affect DC can have now is pick up the pieces in America after the fall. The world is on its own now. Heck, Iceland and Britain are fighting over scraps now.

[McGruff]

I would applaud this guy if he wrote this article a month or two ago but it's a little late now. Captain Obvious is a good description.

[Dick Vomer]

And I've got 99.5 Yen that says the Sun will do no such "rising", in fact it is not going anywhere and not moving, but that the earth will rotate eastward and in due time, the stationary sun will become visible for those on the US East Coast and then moving westward.

well I've got 1.1148272 Swiss Francs that says the sun is not stationary but will continue to rotate around the center of the Milky Way Galaxy at 828,000 km/hr and will complete its orbit in about .... 230 million years....

... and in 230 million years my Swiss Franc invested wisely at an average rate of return of... let's say 2% will give me 15,800,000.00 and the democrats will still be trying to "fix" .... the economy, education, poverty, global (enter whichever temperature will allow taxes to increase) and STILL not be able to find their own a##es with both hands.

[Lazamataz]

Roubini is too optimistic.

He left out the zombies.

[Lazamataz]

I, too, have zero debt.

They'd never loan to a zombie.

[Scotswife]

“I would applaud this guy if he wrote this article a month or two ago but it’s a little late now. Captain Obvious is a good description.”

If you go to the website, you’ll see he did write an article in february that was spot on.

The website isn’t just about gloom and doom - but also opinions from different economist as to what the next step should be.

I don’t see the harm in that really - I think people will be less fearful the more they know.
The more we know, the better we will figure out how to react.

We try to avoid mistakes made in the past to help speed along the recovery.

For me personally - the OMG!! moment passed a couple of weeks ago, and now it’s a matter of - how do we get things moving again?

[razorback-bert]

What about blood banks and vampires?

[Tijeras_Slim]

Anyone want my signed copy of “DOW 36,000”?

[HawaiianGecko]

"What's that worth in today's market? LOL! ;) "

Good point.  But it buys more Euros, Pesos & Yen then it did a month ago, not to mention a whole lot more oil. :-)

[HawaiianGecko]

"Gecko - $10? What door will you be leaving by?"
Well, about 7am I walked out the back door with a carafe of hot coffee to take a swim and about 20 minutes later the sun popped over the horizon and the sky became blue.  I'm not convinced it would have been different if I'd left via any other door.

[21twelve]

Darn - I chose the wrong door to lie in wait for you! (I could use the $10 about now. And a cup of hot joe would have been nice too!)

But yes - you are absoluting correct that the sun will shine again (some climates more so than others!). Glad you had a nice enjoyable morning.

[Dead Corpse]

Global Socialism's a bitch ain't it?

"Burn baby, Burn!!!"

[Canedawg]

“The world is at severe risk of a global systemic financial meltdown and a severe global depression”

Please remember to keep your tires inflated.

[HawaiianGecko]

"And I've got 99.5 Yen that says the Sun will do no such "rising", in fact it is not going anywhere and not moving, but that the earth will rotate eastward and in due time, the stationary sun will become visible for those on the US East Coast and then moving westward. "

You know something... in my experience every time I attempted to be a smartass, someone with a smarter ass came along to upstage me. 
The sun is not stationary.  The solar system is moving, the Milky Way galaxy is moving. The whole universe is expanding.  The Earth rotates eastward?  Compared to what?  The eastern side of the sun?  The eastern side of the universe?   Stand above a globe looking down (down relative to normal people) and you'll notice that the when a tangent line to the East coast appears to be moving eastward, the other side of the globe is moving westward.