Sunday, December 21, 2008

Roubini on U.S., Biden: Economy, Absolute Tanking Possible

8 really, really scary predictions
http://money.cnn.com/galleries/2008/fortune/0812/gallery.market_gurus.fortune/index.htmlhttp://2.bp.blogspot.com/_k_X6e30jnXY/SU5vIyA
Dow 4,000. Food shortages. A bubble in Treasury notes. Fortune spoke to eight of the market's sharpest thinkers and what they had to say about the future is frightening.

We are in the middle of a very severe recession that's going to continue through all of 2009 - the worst U.S. recession in the past 50 years. It's the bursting of a huge leveraged-up credit bubble. There's no going back, and there is no bottom to it. It was excessive in everything from subprime to prime, from credit cards to student loans, from corporate bonds to muni bonds. You name it. And it's all reversing right now in a very, very massive way. At this point it's not just a U.S. recession. All of the advanced economies are at the beginning of a hard landing. And emerging markets, beginning with China, are in a severe slowdown. So we're having a global recession and it's becoming worse.

Biden: U.S. Economy in Danger of 'Absolutely Tanking' http://blogs.abcnews.com/george/2008/12/biden-us-econom.html

Vice President-Elect Joe Biden said the U.S. economy is in danger of "absolutely tanking" and will need a second stimulus package in the $600-billion to $700-billion range.
"The economy is in much worse shape than we thought it was in," Biden told me during an exclusive interview -- his first since becoming vice president-elect-- to air this Sunday on "This Week with George Stephanopoulos."
"There is no short run other than keeping the economy from absolutely tanking. That's the only short run," Biden told me. (cont...)

Ground Zero on Wall Street
Fed Funds and T-Bills Hit 0% Interest
http://globalresearch.ca/index.php?context=va&aid=11458

"....and the U.S. government, though insolvent,..."

China says lending to US will not go on forever
http://news.yahoo.com/s/afp/20081217/bs_afp/financeeconomychinausbonds

World War Web
http://www.fraserinstitute.org/Commerce.web/article_details.aspx?pubID=6046
In the unseen reaches of cyberspace, our enemies are quietly taking the postmodern form of warfare we witnessed on 9/11 to a new level: They are no longer just transnational—they are non-national, hiding and attacking in a world where there are no borders. They are no longer just stateless—they are place-less. And they are no longer virtually invisible—they are, well, virtual.

Russian Plant Considers Reopening Su-25 Production Line

7 comments:

Anonymous said...

FREE On-Demand TV Shows, Movies, Music(over 6 million digital quality tracks), Unlimited Games, Money, and FREE College Educations (Stanford, Oxford, Notre Dame and more) @ InternetSurfShack.com 

Wow Gold said...

Interesting blog. I liked it.

Aion Power-Leveling said...

Its a reality

Nike shox clearance said...

Pretty good post. I just stumbled upon your blog and wanted to say that I have really enjoyed reading your blog posts.Any way Ill be subscribing to your feed and I hope you post again soon.

nike shox shoes said...

Its astounding, seeking in the time and work you place into your weblog and detailed specifics you furnish. I’ll bookmark your web site and pay a visit to it weekly for the new posts.

Nike shox said...

You built some beneficial details there. I did a look for within the matter and observed most folks will consent with your webpage

asicsshoes said...

I would like to be the supporter of yours.Thank you for sharing!I think these are very valuable information.