Can someone please SHUT Roubini UP!!!

Quote from trefoil:

He's right for now. That's the point.
I'll tell you something that you can put in the bank for the next decade: this is a short-term panic, not yet the start of a long-term depression. Off of this will come one more period of prosperity, which should last, if previous averages for the business cycle hold, about 4 years.
That's because, this time, the governments of the world still have the ammo to fight this one off. They won't the next time the cycle turns down.
The next one is the real depression. This one, as bad as it feels, is just the appetizer.
Roubini thinks it's the main course. By the time the real thing comes along, no one will remember who he is.
More...

Spot on.

Bubble economics is dead. Debt and credit levels are going parabolic relative to output. The next Bull will sucker-in everyone left, then the entire system will collapse. The DOW will go to 4K, easy - 6 years from now....

Thats what fractional-reserve lending does - create bubbles that destroy real, honest-to-God wealth. Hyper Deflation at bubble debt levels = a protracted, severe Depression Greater than the last.

Anyone holding major debt (car, mortgage etc) in 6 years, is in major trouble.

I fully expect Obama and the Bankers to resurrect debtors prison and amend bankruptcy law during the next/last Bull Run up.

The Country is basically dead. Once the real crash hits, sheeple will demand Government be charged with their care and street justice be metered out. Scape-goating of political enemies will be the order of the day. Speculators, money managers, free marketeers. Anyone anti-Big Government.

In exchange for guaranteed welfare, Government will demand more rights be taken from the people to "combat the evils of capitalism". Further, we'd probably move to some type of non-cash economy where the Government holds all the cards.
 
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