Roubini sends out emergency alert-Global Depression

Roubini's on a roll.

I don't think it's melodramatic to think or say that equity holders in banks will get wiped out on a massive scale and that deflation puts the global economy into a death spiral from here on out.

I'm not so sure that the central banks can stem the nasty and vicious deflationary plunge, resulting from consumer and business hoarding of all money.
 
basically the banks got robbed when they have bad loans.

that is the whole business if banking is to take risk in lending money.


Quote from Misthos:

Sure, people that mop floors, pick up trash, mow lawns, stock shelves at stores, take your order at fast food restaurants - working 10+ hour days holding several jobs - those are the evil lazy people.

Traders of Credit Default Swaps are the salt of the earth - without them society can't function.

Look, I'm no commie, but you have to admit, Castro and Hugo Chavez have nothing on Wall Street and Wall Street's tools Paulson and Bernanke.
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bankging and wall street has been deregulated for theives from mid 80's to 2006.

regulators could even audit madoff operation that he had no shares and never made a trade for his clients.

he was giving fake statements to his clients and giving fake statements to irs.
 
these insiders in the banks were lending money to thier welfare buddies and their dog. the dog defaulted on his loan

Quote from tradersboredom:

bankging and wall street has been deregulated for theives from mid 80's to 2006.

regulators could even audit madoff operation that he had no shares and never made a trade for his clients.

he was giving fake statements to his clients and giving fake statements to irs.
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This is scary stuff. He could be right. He's not the only one predicting total disaster.

I thought we had a better than even chance that Dow 7500 was the bottom, yet it seems like we're gonna test and breach that.
 
Quote from sub0:

Ok I can see how the guy is right about the markets taking a hit and how he predicted it...however I disagree with him here on a "global depression".


Contrary to what he believes, the entire world does not revolve around the stock markets. 100% of the world currency isn't in the stock market. And last time I checked, in the U.S. a majority of the stocks are owned by a small few known by some as the super rich. Yes the super rich do lose money and would like for YOU to believe that them losing lots of money means the world is going to end.

However most people..
1. don't know how to invest / are in cash bank accounts
2. have bills and a family and don't invest at all
3. the only investing they do is in their small 401k
4. are in blue chip mutual funds and have been selling at 10-50% losses not 100% losses. And near all time highs on the DOW.
5. are more worried about finding a job than they are about their portfolio that they don't have


So I think that guy and others like him are wrong on calling a global depression. First off how does he even know what the numbers are? Has he been granted access to their books? Second of all this is primarily a U.S. crisis. The global market is effected but not nearly as severly.

Just because banks fail in the U.S. doesn't mean they will fail in England, China and Japan. If so, how come they aren't proposing 700 billion dollar bailout plans?
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In my area, your 1-5 is VERY accurate.
 
Quote from Debaser82:

I believe 60% of the DOW is owned by 5% of the US population.

Wouldnt want to be in their shoes.:p
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5% of the population pays 60% of the Feds' income taxes too.... if they lose revenue / get writeoffs, the FED loses revenue..
 
Quote from AMT4SWA:

Same thing with Alex Jones from infowars.com ....... I mean come on, Alex "called" 9/11 two weeks before it even happened (in amazing detail). He was and has been ABSOLUTELY right on the entire play out of the financial grid takedown!

Betting with the "calls" made by Alex Jones over the years has worked exceptionally well!!! Thanks Alex!!! :)
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Ditto on AJ.

I assume you know that Roubini is CFR, right?
 
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