Roubini sees more than 50% chance of a recession

[YogaNate79]

The last 20 years, globalization has been gaining. The USA benefited massively from these trends. Its enjoyed unusually robust growth, low unemployment and inflation, and received billions of dollars in investment. These aren't signs of economic collapse. Companies have entered new countries and industries with success, using global supply chains and technology in the vanguard of efficiency. Exports, manufacturing and services have boomed. The USA isn't declining, the world is just catching up.

[Joyriser]

1OO% certainty of depression!!!!Great we will get a Thirties Revival!!A long overlooked decade of hardship and misery.I hope that pawn shop will take my Wii for bread and soup!I can use my credit card to spread dripping onto the bread!

[ubornthick]

Joyriser,i hope you enjoy your bread and chips

[ossiorn]

During the 30s depression the powerhouse families like The Morgans,the Rockefellers and others withdrew their assets from the Market just before the collapse.And not because they were psychic!

[Joyriser]

Absolutely agree...a good comment.That was one of my more flippant comments but it gets at the truth that this situation has been created by people who have got extremely rich from the false manipulation of a non economy for decades.This isnt an accident and never was!These powerhouse people created it and are rich enough to pull out,clear off and watch the mess from a distance.

[xxxaabbccxxx]

recession! o yeah, LETS go shopping in america!

[mn8aol]

Is supply side economics working for you?

[bigphilly17]

When will the world finally come to the realization that the Austrian Economists were right all along!?!?!

[Magnulus76]

Roubini has a good analysis. The credit crunch is real and it will trickle down to every part. The burnt upper-middle class is going to find no money to play with, and it will trickle down to the middle class and lower class. Unemployment will be the result. The post 2001 recovery was largely a sham and not based on good fundamentals. You can lay it all at the feet of Allen Greenspan, who bent over backwards to shield his buddy George Bush from a bad economy in the 2004 elections.

[billyguns2]

Buy gold.

[gizmosells]

Recession is just minor market correction, and it means higher unemployment rate, and lower wage growth, and companies trying to clear useless inventory. Recession help the economy at times to correct excess, but likely 2% growth for 2008.

[Zhuangyao]

he is wrong. there is a 100% chance of recession by x'mas and 100% chance of depression. That is defarto, for sure.

[thejobloshow]

A pointless war and a recession...

is this century just going to be a repeat of the 20th century?