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Roubini Says “Perfect Storm” May Clobber Global Economy
The Daily Ticker - Yahoo Finance ^ | 13 June 2011 | Henry Blodget

Posted on 06/13/2011 11:37:35 AM PDT by edpc

NYU Professor Nouriel Roubini has seized the headlines again this morning, warning that a "perfect storm" of economic disasters may smash the global economy in 2013.

Roubini's perfect storm consists of four factors:

-The U.S.'s basket-case of an economy and budget deficit, -A potential slowdown in China, -European debt restructuring and -Stagnation in Japan.

Roubini says there's a one-in-three chance that these factors will clobber growth in 2013.

(Excerpt) Read more at finance.yahoo.com ...


TOPICS: Business/Economy; Government; News/Current Events; Politics/Elections
KEYWORDS: 2ndgreatdepression; bhoeconomy; business; buygold; buysilver; debt; default; depression2point0; economy; econonmy; getreadyhereitcomes; greatestdepression; greatrecession; nobama2012; obamanomics; preparedness; preparenow; preppers; prepping; recession; roubini; shtf; survival; survivalism; survivalping; teachers; teotwawki; tshtf; urbansurvival; zimbabweherewecome
"Everybody's kicking the can down the road of too much public and private debt. The can is becoming heavier and heavier, and bigger on debt, and all these problems may come to a head by 2013 at the latest."

Can't argue with the first part, though I think the US has the unique capacity to be self-sufficient and recover under strong leadership and with the proper economic policies.

1 posted on 06/13/2011 11:37:42 AM PDT by edpc
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To: edpc
though I think the US has the unique capacity to be self-sufficient and recover under strong leadership and with the proper economic policies.

So we're basically screwed then. Right?

2 posted on 06/13/2011 11:39:40 AM PDT by Lurker (The avalanche has begun. The pebbles no longer have a vote.)
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To: edpc

His metaphor gets it backwards. It will take a gentle puff and the house of cards collapses - unleashing a perfect storm.


3 posted on 06/13/2011 11:40:24 AM PDT by DManA
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To: edpc

OK, so this guy predicted a lot of stuff correctly. He now says there’s a 15% chance of another recession.

Well, that must mean that’s there’s an 85% chance against that happening.

BTW, Dr. Roubini, after all this happened, said he made no changes at all to HIS portfolio. Says he’s a “long term” investor.

Huh?


4 posted on 06/13/2011 11:40:36 AM PDT by RexBeach (Mr. Obama can't count.)
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To: edpc

OK, so this guy predicted a lot of stuff correctly. He now says there’s a 15% chance of another recession.

Well, that must mean that’s there’s an 85% chance against that happening.

BTW, Dr. Roubini, after all this happened, said he made no changes at all to HIS portfolio. Says he’s a “long term” investor.

Huh?


5 posted on 06/13/2011 11:41:15 AM PDT by RexBeach (Mr. Obama can't count.)
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To: Lurker
Yeah. I think that recovery is possible but not at all likely.
6 posted on 06/13/2011 11:41:28 AM PDT by ClearCase_guy (The USSR spent itself into bankruptcy and collapsed -- and aren't we on the same path now?)
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To: Lurker

In the short term, definitely.


7 posted on 06/13/2011 11:44:09 AM PDT by edpc (I disagree. Circle gets the square.)
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To: All

I wish I could understand why silver is dropping like a rock. Even when the DOW goes down.


8 posted on 06/13/2011 11:57:28 AM PDT by Terry Mross (I'll only vote for a SECOND party.)
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To: edpc

Thank goodness the bailout, stimulus and propping up the stock market has saved us. The economy is booming. Everyone who wants a job, has a job, and Obama will stop global warming, so chill out. The future is bright.


9 posted on 06/13/2011 12:02:46 PM PDT by pallis
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To: edpc

What utter BS. Our planet and our atmosphere can moderate almost anything that comes our way. The earth will be fine.


10 posted on 06/13/2011 12:17:53 PM PDT by BuffaloJack (In 2012 get rid of Obama and his Empire of Lies.)
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To: edpc; ding_dong_daddy_from_dumas; stephenjohnbanker; DoughtyOne; calcowgirl; Gilbo_3; NFHale; ...
RE :”NYU Professor Nouriel Roubini has seized the headlines again this morning, warning that a “perfect storm” of economic disasters may smash the global economy in 2013. Roubini’s perfect storm consists of four factors:
-The U.S.’s basket-case of an economy and budget deficit,
-A potential slowdown in China,
-European debt restructuring and
-Stagnation in Japan.
Roubini says there's a one-in-three chance that these factors will clobber growth in 2013.
Now, that sounds terrifying, but it all means there's a two-in-three chance that everything will be okay. (Roubini’s other two possible scenarios are “anemic growth” and “accelerating growth.”)

Roubini Says “Perfect Storm” May Clobber Global Economy By Henry Blodget | Daily Ticker

Anybody see anything good on the horizon? (Besides this hurting Obama in 2012?) Look at his #1 above. If we continue to run deficits we are screwed, if we cut the deficit we are screwed (at least short term) which is why they never do it.

About 5 years ago Harry Dent predicted that we have a long term disaster coming because Boomers are now in a 'saving for retirement mode' and will only reduce their consumer and housing spending as time goes on, then moving onto entitlements. Details below:

From 2006 :
WN: You predict this new stock-market bubble will burst in late 2010, followed by a long decline. Are we talking about something like the 1970s or more of a cataclysmic downturn like the Great Depression?
Dent: I'd say it's going to be in between. It won't be as extreme as the Great Depression. But it will be worse than the ‘70s downturn, and I think it will be worse than what Japan saw from 1990 to 2003. Maybe we'll see unemployment at 15 percent, give or take. The worst part of it is you're going to see deflationary trends in prices from a shrinking work force. Deflation is the enemy of asset prices. You've got to remember that in the ‘70s, while the Bob Hope generation was declining in their spending, you had a bigger generation coming behind them entering the work force and picking up some of the slack. Now you've got a smaller generation following the largest generation in history. So it makes the downward trend even more pronounced.

The New Market Bubble Theory( WN/Harry Dent 01.18.06 )

11 posted on 06/13/2011 12:27:42 PM PDT by sickoflibs (If you pay zero Federal income taxes, don't say you are paying your 'fair share')
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To: Terry Mross

Ummm, there are more people selling then buying?


12 posted on 06/13/2011 12:36:54 PM PDT by Former Proud Canadian (We also have a purpose, and that purpose is ... no longer to please every dictator with a vote at th)
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To: sickoflibs
The cruel realities of it all. So what will the Feds do. Through another US dollar devaluation tactic upon us and claim how the next Quantitative Easing by printing more money to buy our debt will somehow be our savior.
Idiots leading idiots, the lame and the blind over the cliff.
13 posted on 06/13/2011 1:38:33 PM PDT by Marine_Uncle (Honor must be earned....Duncan Hunter Sr. for POTUS.)
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To: sickoflibs
I should have added, beyond all the countries listed as potential real big loosers in this all, what do we do if China literally has a big melt down, due to no place to sell any of their goods. I think we are close to having the age old adage "the gig is up", breathing down our necks.
I often hesitate to caution folks that as big a problem we have with the entitlement programs, there are bigger things on the horizon that can actually sink the ship.
14 posted on 06/13/2011 1:43:34 PM PDT by Marine_Uncle (Honor must be earned....Duncan Hunter Sr. for POTUS.)
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To: edpc

I didn’t realize the market had gone down enough to bring out Roubini yet?


15 posted on 06/13/2011 2:49:07 PM PDT by Professional
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To: edpc

bump


16 posted on 06/13/2011 3:05:02 PM PDT by WashingtonSource
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To: Marine_Uncle
RE :”I should have added, beyond all the countries listed as potential real big loosers in this all, what do we do if China literally has a big melt down, due to no place to sell any of their goods. I think we are close to having the age old adage “the gig is up”, breathing down our necks.

I am thinking that our only possible future is going to have to be able to export like Germany does. That is going to be a tough road and those that claim that we can just wall ourselves off like 1800s Japan are just dreaming of a free lunch.

As Harry Dent put it our days major consuming are over because of the retiring baby boomers will be savers not consumers even before they retire. One reason we could have the housing bubble was massive immigration buying housing, but the only thing sustaining that was foreign suckers buying our home loans.

I started that Austrian economics ping list in late 2008 because at that time Peter Schiff was the only one telling us the unpleasant truth and it resonated with many freepers. The two parties just play the same political games to get elected the next cycle.

17 posted on 06/13/2011 10:01:39 PM PDT by sickoflibs (If you pay zero Federal income taxes, don't say you are paying your 'fair share')
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To: ClearCase_guy
[(The USSR spent itself into bankruptcy and collapsed -- and aren't we on the same path now?)]

Exhibit A - about a half mile from the Air Force Academy's South Gate:



Unfinished and bankrupt. Looking the same for the last 3 years.

Welcome to the Kleptocracy.
18 posted on 06/13/2011 11:27:04 PM PDT by LomanBill (Animals! The DemocRats blew up the windmill with an Acorn!)
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To: LomanBill

I remember Denver had many of those buildings back in the oil crash of 1983 or so. Of course that was one industry, and not caused by a wanton destruction of our own government.


19 posted on 06/13/2011 11:30:31 PM PDT by 21twelve (Obama Recreating the New Deal: http://www.freerepublic.com/focus/f-news/2185147/posts)
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To: 21twelve
[ Of course that was one industry, and not caused by a wanton destruction of our own government.]

And of course that was also before we defeated the Soviets, and then stupidly became them.
20 posted on 06/13/2011 11:54:32 PM PDT by LomanBill (Animals! The DemocRats blew up the windmill with an Acorn!)
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To: LomanBill

Just wait if Obama gets a second term and we can become China. Have entire new cities planned and built by government to sit empty.


21 posted on 06/14/2011 12:01:54 AM PDT by 21twelve (Obama Recreating the New Deal: http://www.freerepublic.com/focus/f-news/2185147/posts)
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To: 21twelve
[Have entire new cities planned and built by government to sit empty.]

Company Towns -- Que Nostromo?

Kurtz: Are you an assassin?
Willard: I'm a soldier.
Kurtz: You're neither; you're an errand boy sent by grocery clerks to collect a bill.

"COMMERCE BETWEEN MASTER AND SLAVE IS DESPOTISM"--Thomas Jefferson

That's what naturally manifests itself when government is not constrained to its specified American purpose - "TO SECURE THESE RIGHTS, governments are instituted among men".

 

 

22 posted on 06/14/2011 1:10:05 AM PDT by LomanBill (Animals! The DemocRats blew up the windmill with an Acorn!)
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To: edpc; M. Espinola; TruthConquers; Quix; Joya; blam; investigateworld
Very important video -- please watch this one:

Who's Afraid of the Big Bad Bank ___? An Uncensored Investigation of the U.S. Federal Reserve

The truth is the banking elite controls everything in our world. Bankers are much like the Bilderbergers who meet and plot in luxury in top secret meetings in places like Switzerland surrounded by military and teams of private security forces.

Our lives dominated by a corrupt banking cartel and greedy shadow banking profiteers who only want more for themselves. This is a debt based system and American taxpayers have been billed 100% -- with interest -- for every dollar printed for the U.S.

And what about all those exotic derivatives which now total over $ 600 Trillion. Wall Street derivatives are really gambling markers which will eventually come due. And our corrupt, elite political class will surely vote to saddle taxpayers with these gambling debts: The U.S. is already bankrupt but the Fed is hiding the truth.

Once people understand what is really going on -- they may become highly outraged. People may riot in the streets just like people are doing in Spain, Portugal and Greece.

Is Greece the Future of America ___? YES !


Both major political parties are corrupt to the bone -- Democrats and Republicans only want to be re-elected. They do not care about America and you and me and our children or grandchildren. The time to wake up is over . . .


Keeping the Useless Eaters Happy and Well Media Fed . . .



23 posted on 06/14/2011 5:21:33 AM PDT by ex-Texan (Ecclesiastes 5:10 - 20)
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To: ex-Texan

Thanks bro.


24 posted on 06/14/2011 9:34:39 AM PDT by Quix (Times are a changin' INSURE you have believed in your heart & confessed Jesus as Lord Come NtheFlesh)
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