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Thread: Roubini Says a ‘Perfect Storm’ May Converge on the Global Economy in 2013

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    Roubini Says a ‘Perfect Storm’ May Converge on the Global Economy in 2013

    With all of these predictions of doom and gloom, it's hard to take it seriously when someone predicts that on a certain date or during a specific time frame, a disaster might strike. However, there does seem to be compelling evidence that at some point in the near future, economic collapse is eminent. As the world's largest debtor, at some point our creditors will come knocking and considering that the value of the dollar is decreasing, and furthermore, many countries are trying to "get out" of the dollar, there is something to be alarmed about, imo.

    Roubini Says a ‘Perfect Storm’ May Converge on the Global Economy in 2013

    A “perfect storm” of fiscal woe in the U.S., a slowdown in China, European debt restructuring and stagnation in Japan may converge on the global economy, New York University professor Nouriel Roubini said. There’s a one-in-three chance the factors will combine to stunt growth from 2013, Roubini said in a June 11 interview in Singapore. Other possible outcomes are “anemic but OK” global growth or an “optimistic” scenario in which the expansion improves.

    “There are already elements of fragility,” he said. “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.”

    Elevated U.S. unemployment, a surge in oil and food prices, rising interest rates in Asia and trade disruption from Japan’s record earthquake threaten to sap the world economy. Stocks worldwide have lost more than $3.3 trillion since the beginning of May, and Roubini said financial markets by the middle of next year could start worrying about a convergence of risks in 2013.
    Roubini Says a

    Unfortunately, this economic crisis will not be limited to the US only. With economies being more global, a collapse in one place, specifically the US, could trigger worldwide depression.
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    Re: Roubini Says a ‘Perfect Storm’ May Converge on the Global Economy in 2013

    I think that if Obama is not replaced in 2012 we will most likely not not make it through much of 2013 without a massive melt down.

    Obama is incapable learning from his mistakes and is hell bent on repeating them over, and over expecting a different outcome that has never in history come from tax and spend. We all know that is the definition of crazy.

    I am still waiting for a Conservative Statesman step foreword with logical solutions and deliver them in a forceful fearless way that shuts down the Radicals on the left, and points out Obama lies and mistakes in the process.

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    Re: Roubini Says a ‘Perfect Storm’ May Converge on the Global Economy in 2013

    Quote Originally Posted by Councilman View Post
    I think that if Obama is not replaced in 2012 we will most likely not not make it through much of 2013 without a massive melt down.

    Obama is incapable learning from his mistakes and is hell bent on repeating them over, and over expecting a different outcome that has never in history come from tax and spend. We all know that is the definition of crazy.

    I am still waiting for a Conservative Statesman step foreword with logical solutions and deliver them in a forceful fearless way that shuts down the Radicals on the left, and points out Obama lies and mistakes in the process.

    This has nothing to do with Obama

    Obama nor McCain can save the US from the financial crisis that is too come, one can either delay it, make it shallower, speed it up and make it deeper, (or a combination of them) This is something that has been building for the last 30 years, 2 years of a presidency who ever it may have been would not be able to prevent it. In 2002 the depth of the crisis today could have been lessoned, but at the expense of a far deeper crisis in 2001-2002. That route was not chosen, so today you have a massive debt load, both personal and government. The US in 2012-2013 will see a crisis again with a couple of choices mass inflation or mass deflation. The same choice in 2008. Neither choice will be pleasent
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    Re: Roubini Says a ‘Perfect Storm’ May Converge on the Global Economy in 2013

    Quote Originally Posted by Councilman View Post
    I think that if Obama is not replaced in 2012 we will most likely not not make it through much of 2013 without a massive melt down.
    I mean no offense by this, but bipartisan rhetoric has no place in this thread, imo. Both the democrats and the republicans have caused this economic disaster, and this is tolerated because Americans are divided along these lines. Obama is not responsible for this disaster. I will say he's making it worse, but this economy has been a house of cards long before Obama was in office.

    Quote Originally Posted by Councilman View Post
    Obama is incapable learning from his mistakes and is hell bent on repeating them over, and over expecting a different outcome that has never in history come from tax and spend. We all know that is the definition of crazy.
    Tax and spend is still better than cut taxes on the rich and then spend literally trillions over budget. The federal government expanded more under Bush Jr. than any other president. In fact, the republicans/neo cons don't even believe in the free market system. They believe in expanding the government, the very thing conservatives claim to be against.

    George W. Bush made this comment in 2008: "I've abandoned free market principles to save the free market system." Telling, isn't it? That doesn't even make sense.


    Quote Originally Posted by Councilman View Post
    I am still waiting for a Conservative Statesman step foreword with logical solutions and deliver them in a forceful fearless way that shuts down the Radicals on the left, and points out Obama lies and mistakes in the process.
    Conservatives are no better for this country than another flu epidemic.

    Quote Originally Posted by Lord Tammerlain View Post
    This has nothing to do with Obama

    Obama nor McCain can save the US from the financial crisis that is too come, one can either delay it, make it shallower, speed it up and make it deeper, (or a combination of them) This is something that has been building for the last 30 years, 2 years of a presidency who ever it may have been would not be able to prevent it. In 2002 the depth of the crisis today could have been lessoned, but at the expense of a far deeper crisis in 2001-2002. That route was not chosen, so today you have a massive debt load, both personal and government. The US in 2012-2013 will see a crisis again with a couple of choices mass inflation or mass deflation. The same choice in 2008. Neither choice will be pleasent
    Imo, presidents, senators, and congressmen are no better than corporate puppets. If they had been working for the American people instead of corporate interests, this crisis wouldn't be looming over the horizon. We are now helpless to stop it. All that people can do now is prepare. Sadly, most people are living under the bewitching effects of the normality bias. Like lambs to the slaughter-
    “In politics, stupidity is not a handicap.” -Napoleon

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    Re: Roubini Says a ‘Perfect Storm’ May Converge on the Global Economy in 2013

    Quote Originally Posted by evanescence View Post
    I mean no offense by this, but bipartisan rhetoric has no place in this thread, imo. Both the democrats and the republicans have caused this economic disaster, and this is tolerated because Americans are divided along these lines. Obama is not responsible for this disaster. I will say he's making it worse, but this economy has been a house of cards long before Obama was in office.



    Tax and spend is still better than cut taxes on the rich and then spend literally trillions over budget. The federal government expanded more under Bush Jr. than any other president. In fact, the republicans/neo cons don't even believe in the free market system. They believe in expanding the government, the very thing conservatives claim to be against.

    George W. Bush made this comment in 2008: "I've abandoned free market principles to save the free market system." Telling, isn't it? That doesn't even make sense.




    Conservatives are no better for this country than another flu epidemic.



    Imo, presidents, senators, and congressmen are no better than corporate puppets. If they had been working for the American people instead of corporate interests, this crisis wouldn't be looming over the horizon. We are now helpless to stop it. All that people can do now is prepare. Sadly, most people are living under the bewitching effects of the normality bias. Like lambs to the slaughter-
    It would be very hard for you to be more wrong than you are.

    Our economy is dependent the power of positive thinking almost as much anything else and unless Obama changes his ways the positive thinking among the majority is not going to be forth coming.

    Failed recent policies have held up any progress in the recovery and that is all Obama.

    Before him the Senate and House were controlled by Liberals and along with the errors that President Bush came up with we find ourselves here and now.

    You can give Bill Clinton credit for a surplus but who controlled Congress then, and came up with the Contract for America?

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    Re: Roubini Says a ‘Perfect Storm’ May Converge on the Global Economy in 2013

    Quote Originally Posted by Councilman View Post
    It would be very hard for you to be more wrong than you are.

    Our economy is dependent the power of positive thinking almost as much anything else and unless Obama changes his ways the positive thinking among the majority is not going to be forth coming.

    Failed recent policies have held up any progress in the recovery and that is all Obama.

    Before him the Senate and House were controlled by Liberals and along with the errors that President Bush came up with we find ourselves here and now.

    You can give Bill Clinton credit for a surplus but who controlled Congress then, and came up with the Contract for America?
    Danger will Robinson... Opinion! Danger!

    Listen buster, as lord tammerlain explained quite well... This started 30 years ago, and it's unlikely any president elected in 2008 could have fixed these overwhelming problems...

    The US economic woes didn't start on November 2008...

    And by the way, you talking about majority thinking is pretty rich considering your incoherent, blatantly false and biased accusations of black liberation theology and Marxism.

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    Re: Roubini Says a ‘Perfect Storm’ May Converge on the Global Economy in 2013

    Quote Originally Posted by Councilman View Post
    I think that if Obama is not replaced in 2012 we will most likely not not make it through much of 2013 without a massive melt down.

    Obama is incapable learning from his mistakes and is hell bent on repeating them over, and over expecting a different outcome that has never in history come from tax and spend. We all know that is the definition of crazy.

    I am still waiting for a Conservative Statesman step foreword with logical solutions and deliver them in a forceful fearless way that shuts down the Radicals on the left, and points out Obama lies and mistakes in the process.
    Not being a partisan and thus not tied to silly and useless cross-party hatred I would suggest that what any leader could do today doesn't matter. Whatever party is not in the White House always blames the economy on the President. The counter party argument is always that Presidents don't have that kind of power and yada, yada. Mean while Rome bloody burns. "He hit me first", has never been helpful in any situation. It's a massive waste of time. Partisan schoolyard bickering ad nauseum is tedious at best.

    If we look at the situation pragmatically the answer is quite obvious - if the U.S. is in fact going to hit the skids in 2013 it's too ****ing late now to do anything about it now! Oh sure, you might mitigate the damage, but that isn't the topic of this thread. IMHO, we are going to financial hell in a hand basket before this winter, probably sooner. Who am I to question Roubini, but I'd say the old boy is being gracious in stating that our economic demise would depend on a "perfect storm". To that I respectfully say to Mr. Roubini, "Yo mama!"

    The climate itself can do us in. Food prices are going to go through the roof. We have yet to see the hell untold coming from the Fukushima debacle. Already radiation levels are causing health issues in the US Northwest. If food sources, including fish are contaminated a lot of people will be fairly ****ed. But there's much more than that and there's no sense listing what we already know is very well possible. Hell, another Katrina could do it.

    So, I don't know that I agree that it would require a perfect storm, unless most of the pieces are already in place to make it perfect. I believe - and man, do I hope I am wrong - it's too late. It's time for guns, gold and whatever the third thing is, I can remember, food, I suppose.

    Order seeds, grow your own food, as much as you can. Buy guns, and learn how to be proficient with them (you don't have a lot of time, so you might want to hurry this one up a bit) and invest in gold you can hold, or junk silver still isn't a bad investment and might be easier to spend later. Now if Roubini or Risky or both are wrong, you've got good fresh veggies, gun(s) you can sell without losing much of your investment, and a bagful of precious metal. Not bad. If Roubini is right you can send him a thank you card for giving you a heads up. Whining about Obama isn't going to get you jack in the short term and likely nothing in the long term.

    I didn't vote for Obama. I won't vote for his re-election, but it is what it is. Whine all you like, I'm taking care of me and mine, hell or high-water.
    Last edited by Risky Thicket; 06-21-11 at 01:34 AM.










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    Re: Roubini Says a ‘Perfect Storm’ May Converge on the Global Economy in 2013

    Quote Originally Posted by Councilman View Post
    It would be very hard for you to be more wrong than you are.

    Our economy is dependent the power of positive thinking almost as much anything else and unless Obama changes his ways the positive thinking among the majority is not going to be forth coming.
    There is next to nothing you can say that supports blaming Obama for this economic disaster.

    Quote Originally Posted by Councilman View Post
    Failed recent policies have held up any progress in the recovery and that is all Obama.
    There's no denying that recent policies have failed. However, Obama doesn't have ultimate control over every policy that is passed. The main point of my argument is that several decades of fiscal recklessness from BOTH parties is the cause of this crisis.

    Quote Originally Posted by Councilman View Post
    Before him the Senate and House were controlled by Liberals and along with the errors that President Bush came up with we find ourselves here and now.

    You can give Bill Clinton credit for a surplus but who controlled Congress then, and came up with the Contract for America?
    Bipartisanship should be considered a logical fallacy. Also, it is very boring.
    “In politics, stupidity is not a handicap.” -Napoleon

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