Skip to comments.A Global Perfect Storm (Roubini)
Posted on 06/16/2012 6:51:07 AM PDT by TigerLikesRooster
A Global Perfect Storm
15 June 2012
NEW YORK Dark, lowering financial and economic clouds are, it seems, rolling in from every direction: the eurozone, the United States, China, and elsewhere. Indeed, the global economy in 2013 could be a very difficult environment in which to find shelter.
For starters, the eurozone crisis is worsening, as the euro remains too strong, front-loaded fiscal austerity deepens recession in many member countries, and a credit crunch in the periphery and high oil prices undermine prospects of recovery. The eurozone banking system is becoming balkanized, as cross-border and interbank credit lines are cut off, and capital flight could turn into a full run on periphery banks if, as is likely, Greece stages a disorderly euro exit in the next few months.
Moreover, fiscal and sovereign-debt strains are becoming worse as interest-rate spreads for Spain and Italy have returned to their unsustainable peak levels. Indeed, the eurozone may require not just an international bailout of banks (as recently in Spain), but also a full sovereign bailout at a time when eurozone and international firewalls are insufficient to the task of backstopping both Spain and Italy. As a result, disorderly breakup of the eurozone remains possible.
(Excerpt) Read more at project-syndicate.org ...
the global economy in 2013 could be a very difficult environment in which to find shelter
I hope it hits before November 2012.
A start of the long fall...
A start of the long fall...
Obama is practically begging the Greeks NOT to elect the leftist party this Sunday. He is pleading for them to elect the conservative party that will continue with austerity and stay with the Euro.
He is deathly afraid if the leftists are elected, it will throw the financial markets into deep turmoil right before the November election.
How bizarre is that? In Greece he touts conservatism, while in the US he increases the national debt more than all previous Presidents combined.
What a selfish, self absorbed *sshole.
I don’t see China effected at all.
China is growing.
All their manufacturing is owned by the government, and 51% of everything. Manufacturing owned for 10 years...
What is wrong with this picture? Why is 4/5 of the planet on starvation wages, China is growing and we’re all sitting around on the edges clapping our hands at their amazing advancement?
When are we ever going to wake up?
Or are we not going to?
You were given a lot of proof otherwise in the other thread regarding China.
Your statements continue to be ill-informed.
My comments continue to be among the only ones on this board, actively considering what happens when China becomes STRONGER AND STRONGER.
There is more than today. There is tomorrow, and the years after that.
ALL OF WHICH seem pointed in China’s direction. Every single one.
There are no competitors. No shared victories.
China isn’t doing as well as they say they are. They are going to take it right in the nuts along with the rest of us. The they’ll go to war with India.
Problem is your premise is wrong as my post to you on the other thread indicated. Now if you have recent proof to back up your assertions on China’s growth...I’d be very happy to consider it.
Did you both to consider what was provided to you?
A bit lacking in context.
What sort of background would you like, about what topic?
OH for heaven’s sake are you going to now play willfully ignorant games too boot?
Too be such a maroon as to not feel the need to indulge in idle banter regarding your premise....you must be 0bama?
The topic is YOUR premise that you have now espoused on at least two threads as the only voice crying in the wilderness...
Prove you premise! Provide the financial details for the last 8-12 weeks that supports your premise.
It was a fair claim. I stand by it.
Stand up for yourself and be specific, or stand down.
I have already supplied you with specifics previously. I shall not bore myself with reposting them.
You made the claim...now back it up is all that I am asking.
It you who has failed to provide proof to premise here. And as such it is you who should stand down and go do some homework.
My offer stands...
Seems a lot, not to hedge our bets. What if we are wrong?
There is no offer on the table.
There is a reasonable request to prove your premise and thus far you have avoided all requests, to be accountable to your faux claim.
Look I’ll once again state my case.
Just give me a couple of specifics please. Something on which I can start a discussion anyway.
I suppose I should be aware of your point but I am not.
How about that?