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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 )

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.

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.