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Friday, August 10, 2012

Global Economic Collapse Predicted

Nouriel Roubini, the economist whose dire warnings earned him the nickname “Dr. Doom,” said two weeks ago that the recent slowdowns in the U.S., Europe, and China is proof that the global “perfect storm” scenario he predicted is on its way.

“(The) 2013 perfect storm scenario I wrote on months ago is unfolding,”  say's Roubini.  He is predicting  four specific elements would come together to create the perfect global economic crisis: a stalled U.S. economy, the EU debt crisis, a slowdown in emerging markets (China), and conflict in Iran.

Roubini further declares that this crisis will be far worse than the financial crisis of 2008.  A U.S. recovery is not going to happen at least for many years to, according to Roubini.   The problems in Europe, an economic slowdown in China and oil prices that will rise sharply, due to the fall of the dolar and the crisis in the Middle East, particulary with Iran, will all make a America's economy much worse, say's Roubini. 

Author and Economist James Howard Kunstler claims that we are past the point where solutions
to our economic problems are possible.  He has long been a voice of society's waste of resources and
now that he basically say's there is no hope to correct the course taking us to a brutal collapse, we now
need a response plan to help us best brace for the impact of the coming consequences. And, as Kunstler
advocates, we need it fast.

Europe is taking a turn for the worst as the new French Socialist President François Hollande is driving
captial and businesses out of France with his "tax the rich policy" and Greece just declared that they are
in a Great Depression.  

Even Treasury Secretary Timothy Geithner say's that "a wave of tax increases and billions of dollars in
automatic spending cuts will cause a lot of damage to the fragile economy" and this is coming from a
guy who has been all rosy and who has an interest in making the Country believe that things are not as
bad as they really are.

4 comments:

  1. Solutions are possible but not with our current crop of politicians. Cut corporate taxes to zero and do it in a way that gives the business community confidence it is not short term. Fire everyone at EPA and replace them with a handful of real scientists not activists. Declare an emergency and bypass all the red tape to search for and extract natural resources. Fire everyone at the Department of labor and replace them with a handful of true capitalist not socialist. Level the playing field between unions and business. Require our trading partners to buy as much from us as they sell us. Just these few things would turn our depression into a boom time.

    ReplyDelete
    Replies
    1. Sounds like your solution is a lot of layoffs and to let corporations run the country...

      Delete
  2. Chris is a FOOL and does not belong on this site. The fact is the time is here

    ReplyDelete
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