Posted on 10/23/2009 10:06:28 PM PDT by blam
Roubini destroys his credentials as an economist. There IS NO recovery. I work for a multi-national, and have contact with many regions. Trust me, there is NO global recovery.
Er ist voll mit schiess.
I am getting more convinced the “year of jubilee” was instituted whether we like it or not.
Whatever... look at a chart of oil prices for the past 5 years. And this guys claim to fame is that he predicted the fall of oil prices when they were at 145? A lot of people knew that was coming....
It seems pretty logical that in an economy that is 70% consumer driven, when so many people are out of work or struggling to pay off debts and accumulate savings, the economy won’t see improvement very soon.
Seems only global companies are doing okay.
The intent is to destroy the (mostly) White middle class. That's where all the angry 'Tea-Baggers' originate.
Transcript House Democrat Leaders and Economist Press Conference [”Horrendous” Long-term Outlook]
http://www.freerepublic.com/focus/f-news/2369056/posts
Former Federal Reserve Vice Chairman Alan Blinder
“despite the fact that were looking at an absolutely horrendous long-term fiscal outlook,”
Like most liberal garbage, he blames the financial crisis on lack of regulation.
So, then, please explain to us how the exemption of credit default swaps from regulation in 2000 worked out so well. As well as exemption of new commodities exchanges from regulation.
Also, please note, he said 'in part' - not in whole.
I agree that it’s clear the Dems. blocked investigation of the supply side of the problem. But the FBI warned Bush, the Justice dept. and Congress of the CDS fraud on wall street in 2004. And no one did anything. So the Dems & the Repubs are guilty of slopping in over-lapping troughs of special interest. The more we allow the Repubs to pretend to be real Constitutional Conservatives the longer we extend the problem. Of course they are closer to being Constitutional Conservatives but we can’t simply let the pendulum swing back to the right and be satisfied.
They are also depending upon a declining dollar. If the Fed cuts off the carry trade—probably unlikely—that would cause a rush to buy dollars and unwind the trade. What I think is more likely, another stock market crash sending investors into bonds. At the same time a last ditch swap effort with the central banks where they trade a few trillion in dollars for Euro’s, etc. Then they bid up the dollar and make it jump 5 percent overnight. This causes a panic and a massive unwinding of the carry. The only reason I believe this is possible is that everyone assumes the dollar is in a dealth spiral and its headed straight down. However, markets seldom every go straight down. The trend will assert itself over the long term, but during the short term there is plenty of manipulation and evil doing to be done. I’m curious and I would like to hear another opinion. Please let me know what you think.
Roubini was correctly calling the housing bubble back in 2004-5 when many who call themselves conservative were asserting a new normal under which housing prices could only go up.
This all fits with an economic prophecy I heard last year.....to beware, the so called recovery would crash worse than ever here. She said after receiving it that she checked with others and found out she was not alone in predicting this. I am sailing along, spending less and less as the Obama administration acts, I withdraw. Scary times.
I agree...that's been part of our problem.
happy days
I definitely agree with you there. However, they’ve got 1.7 billion people there. Less than 1 percent own gold. Additionally, they have been inflating their currency more than the US, dirty little secret. I believe what is being setup right now is the complete collapse and end of fiat currency as we know it. I highly recommend this article for an insight into what is going to happen.
http://dailyreckoning.com/fiat-currency/
Here is my “money where my mouth is” post number 47:
http://www.freerepublic.com/focus/news/2370442/posts?page=47#47
To be fair, this whole thing gelled for me in 2005 and the first documentation of my attitude can be found here:
http://www.freerepublic.com/focus/f-news/1704975/posts
Meanwhile, at another site, I was claiming this could be as bad as the GD. At the time it sounded (even to me) like crazy talk. Funny how perceptions change so fast. Here it is:
http://seattlebubble.com/forum/viewtopic.php?f=6&t=1936
It’s my post that refers to Freerepublic.
I would.
I have purchased water purifiers, food tablets, ammunition, and a book on how to most effectively kill zombies.
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