ROUBINI: Next Year Could Be A Global Perfect Storm—Much Worse Than 2008

[sharder8]

Not sure what to make of this guys prediction . . . things aren't looking good now . . . next year worse???

"By 2013, the ability of policy makers to kick the can down the road is going to run out of steam"

"In the Euro-zone the slow-motion train-wreck could become a faster-motion train wreck"

"The U.S. looks close to stall-speed and a recession, given the latest economic data"

"The landing of China is becoming harder rather than softer"

"The other emerging markets are all sharply slowing down in terms of growth--the BRICs, China, Russia, India, Brazil, and also Mexico, Turkey. Partly it's because there's a recession in the Eurozone and U.K., partly it's because they're not doing their reforms."

"And finally there is the time bomb of a potential war between Israel and the U.S. and Iran. Negotiations have failed. The sanctions will fail. Obama doesn't want a war before the election, but after the election, regardless of whether it is Obama elected or Romney, chances are the U.S. is going to decide to go and attack Iran and then you'll have a doubling in global oil prices overnight."

"So, it's the perfect storm! You could have a collapse of the Eurozone, a U.S. double-dip, hard-landing of China, hard-landing of emerging markets, and a war in the Middle East. Next year could be a global perfect storm."


Read more: SOURCE

Harder

[The Real Bingo]

There's Dr. Doom. Between him and the overly optimistic most likely resides the truth.

[sharder8]

There's Dr. Doom. Between him and the overly optimistic most likely resides the truth.

I'll go along with that assessment . . .

Based on personal observations . . . I fear it will be closer to his predictions though.


Harder

[tony_j15]

There's Dr. Doom. Between him and the overly optimistic most likely resides the truth.

Concur.

[pickel]

There's Dr. Doom. Between him and the overly optimistic most likely resides the truth.

Concur.

Y'all quit pickin' one of our most prestigious senior citizens !!!

[Chuckiechan]

Here's what I fear: Obama's solutions didn't work and we are still flat on our ass. What happens if Romney's plans don't work? Or we stick with more of the same and reelect Obama?

Obama spent a lot of money for little or no gain. He's flat out of ideas and money.

Romney is going to cut taxes and go for a "Reagan recovery". It worked for Reagan, but he had high interest rates and inflation as a tail wind. Romney doesn't.

I foresee a really mean and bitchy country regardless of who wins if things don't start improving quickly.

Basically, our economy has shrunk to where we can only employ 85% of our population - (100% minus U6 unemployment). We have to get our output up enough to increase today's workforce by 11% at least, and at the same time build in another 1.5% for retirements and death. You're at 13%. Where exactly is this growth supposed to come from?

I can see a backlash coming against those receiving benefits they aren't demonstrably entitled to -- SS for 30 year old drug addicts, Welfare types beyond the two year limit, Illegal aliens, fat cat public retirements.

And I see a backlash against government spending in all forms.

Why? Because nearly everyone in America is afraid that if they lose their job the are screwed with little hope of recovery. And they are struggling with the same issues the government is, except they are forced to stop spending because they have actually, really, for real run out of money.

Fear in America has never created good outcomes. That scares me.

Our GDP is just over 15 trillion. We have reached a new milestone - out debt is greater than our GDP:

U.S. National Debt Clock : Real Time

If this doesn't scare you, you don't understand the problem. BTW, there is a tab with state debt clocks also.

[Epidemic]

I can see a backlash coming against those receiving benefits they aren't demonstrably entitled to -- SS for 30 year old drug addicts, Welfare types beyond the two year limit, Illegal aliens, fat cat public retirements.

I am all for that but in the grand scheme of things that is a flea fart in the budget.

[Chuckiechan]

If that were true, Obama wouldn't be banging the "fairness" drum so much!

[pickel]

Obama spent a lot of money for little or no gain. He's flat out of ideas and money.

Tell that BS to the people who STILL have jobs that would have been flushed down the drain without his policies. Tell that BS to people have now LIVE and WORK since there were afforded the access to healthcare for medical conditions which had ravaged their bodies , for years, before Obamacare.
Obviously, Chuck, you put little value on the lives and health of your fellow American.

[Chuckiechan]

Tell that BS to the people who STILL have jobs that would have been flushed down the drain without his policies. Tell that BS to people have now LIVE and WORK since there were afforded the access to healthcare for medical conditions which had ravaged their bodies , for years, before Obamacare.
Obviously, Chuck, you put little value on the lives and health of your fellow American.

Bull puckey. If Obama would have embarked on a jobs project instead of pork projects for his cronies we would be out of this mess by now. And FYI, Obama is going to gut Medicare - the very program you are saying all the disabled workers are on.

The jobs that are there are there in spite of Obama. He doing everything he can to make it worse for American workers. Get used to it, or get another president.

Bottom line, Obama is out of ideas. He has no answers, and no solutions.

Go ahead and make fun of the rich! Would you be happy working for a failure?

You refuse to look outside you box for other options.

[sharder8]

Tell that BS to the people who STILL have jobs that would have been flushed down the drain without his policies. Tell that BS to people have now LIVE and WORK since there were afforded the access to healthcare for medical conditions which had ravaged their bodies , for years, before Obamacare.
Obviously, Chuck, you put little value on the lives and health of your fellow American.

I see the wool is still pulled snuggly down over your eyes . . .

How about:

Tell that to those who lost their jobs in the last 3 years.
Tell that to those who lost their homes in the last 3 years.
Tell that to those who lost their business' in the last 3 years.
Tell that to those who lost their entire retirement portfolio in the last 3 years.
Tell that to those who lost their cars, homes, jobs . . . everything in the last 3 years.
Tell that to those who used up their unemployment and dropped off the rolls, still without a job.


Harder