Roubini sends out emergency alert-Global Depression

[cgtrader]

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?

Hate to say it but after reading your post the words "simple mind" came to me.

Read up on fiat money and what happens when confidence is lost in it and how our whole "capitalistic" systems relies on confidence and growth, both of which are going to be in very short supply, very soon.

 

[buzzy2]

You guys have to learn a couple of things about socialist fools.
1. They are always predicting the end of the capitalistic system, and are always recommending government intervention to avoid the end of the world as we know it.
2. When the government causes a crisis through their foolish policies and interventions (they always do), these socialist fools always ask for more and more intervention. They do not care that those policies are either the cause of the problem, or, they are totally ineffective, as we are witnessing right now.

 

[Misthos]

Quote from buzzy2:

You guys have to learn a couple of things about socialist fools.
1. They are always predicting the end of the capitalistic system, and are always recommending government intervention to avoid the end of the world as we know it.
2. When the government causes a crisis through their foolish policies and interventions (they always do), these socialist fools always ask for more and more intervention. They do not care that those policies are either the cause of the problem, or, they are totally ineffective, as we are witnessing right now.

To a large extent, the capitalistic system has ended already. Nothing to predict there.

A Wall Street banker walks down the street and buys a hot dog from a street vendor. Who's the REAL capitalist? The hot dog vendor or the Wall Street banker? Which of the two traditionally has the most money? Why?

 

[ByLoSellHi]

I'm not in the business of 'idol' or 'worship,' but Roubini is the man.

He's brilliant.

 

[libertad]

Roubini is ahead of the curve....

Unfortunately, the people in control that should be....are not....

 

[MarginCalled]

Quote from cgtrader:



* a rapid reduction of the debt burden of insolvent households preceded by a temporary freeze on all foreclosures;

* a massive direct government fiscal stimulus packages that includes public works, infrastructure spending, unemployment benefits, tax rebates to lower income households and provision of grants to strapped and crunched state and local government;
* a rapid resolution of the banking problems via triage, public recapitalization of financial institutions and reduction of the debt burden of distressed households and borrowers;

Sounds like populist garbage aimed at the ne'er do wells of society that don't contribute anything anyway.

 

[peppuzz]

and now we will celebrate the wealth of Cuba/venezuela and Russia pre-crisis! Roubini has been great to figure out the mess but now he is just shouting and riding his moment...why not saying now that the dollar gained 15% and the oil price crashed...there is now a rebalancing in favour of the USA and asset prices are much better if you can invest...moreover housing is becoming more affordable...flexibility is the winning word and they have more in the USA vs the rest of the world....btw, why Mr. Roubini is shouting now that you have the "once in a live" buying opportunity?? probably because he is just riding the scaremonger role and want to profit the more as he can...the wolrd has nopt stopped but is offering oopportunities...for the peole CASH RICH, of course....not me unfortunately! but, pls..stop the scaremongering! the crisis is for HFs, Private equity, leveraged finance bankers....these guys have to give it back, not the seriuos investors- best, peppuzz

 

[Misthos]

Quote from MarginCalled:

Sounds like populist garbage aimed at the ne'er do wells of society that don't contribute anything anyway.

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.

 

[buzzy2]

Those trading or investing on Nouriel Roubini's recommendations deserve to lose all their money and then some.

 

[capmac]

VIX up 22% today...