[edpc]

"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.

[Lurker]

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?

[DManA]

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

[RexBeach]

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?

[RexBeach]

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?

[pallis]

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.

[BuffaloJack]

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

[sickoflibs]

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 )

[Professional]

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

[WashingtonSource]

bump

[ex-Texan]

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 . . .