NYU Professor Nouriel Roubini has seized the headlines again, warning that a "perfect storm" of economic disasters may smash the global economy in 2013. Roubini's perfect storm consists of four factors:
-The U.S. 's basket-case of an economy and budget deficit,
-A potential slowdown in China,
-European debt restructuring and
-Stagnation in Japan.
One problem that seems undeniable is the European debt crisis, which has defied all attempts to paper it over and kick the can down the road. Greece is broke, and no serious analyst thinks it will ever be able to pay back its debts. Roubini says "Everybody's kicking the can down the road of too much public and private debt. The can is becoming heavier and heavier, and bigger on debt, and all these problems may come to a head by 2013 at the latest."
50% more people are borrowing from their 401K plans. Some doing it as a source of immediate cash and others to fund survival preparation.
Two months ago the United States total crude oil imports averaged slightly over 9,000 thousand barrels per day with the top five exporting countries being Canada (near 30%), Mexico (near 15%), Saudi Arabia (near 12%), Venezuela (near 10%) and Nigeria (near 10%),......only two of the five states can be described as remotely stable. Upon a dollar collapse, fuel imports will drastically rise in price. We are surely in for a beating.
And now we have mainstream people talking about chaos and violence in the U.S. upon an economic collapse.
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