Extent of the Economic Crisis - Stephen Roach

[ObowMao666]

As of August 20 2010, he is exactly correct, except that it is not even a recovery at all. There was a small blip up with the stimulus, but that was all.

[TruthAxe]

Steven Roach is yet another dipshit who suggests that Collectivist, Oligopoly Corporatism of the U.S. is a "free market" economy.

Roach is a fucking moron.

[tokanite]

@TruthAxe Did you even listen to what he says in this video? Lol

[Jyoyo1]

What a poorly constructed basis for a "conclusion."

Roach doesn't have a clue where we were, where we are nor where we're going.

He's joined the dark side and speaks in tongues.

Where are the tits?

[sunpokerdotcom]

I think we really need to consider legalizing online casino and poker like the UK did, and did it well. I promise it will not corrupt the moral fiber of the US people. In fact I'll bet on it:) if someone would like to have a real constuctive conversaton on the subject, look me up.

[buzzz1213]

War was necessary sad but true, oil is our monetary lifeline if it goes down or Sadam was allowed to trade oil for some other currency US and Western civilization destroyed Checkmate!

Bush has excerated inflation which has been in existence for 70+ years, Obama is finishing the job!

PS- thats why this liberal dove Obama has us in Afganahstan, think about it either way we're screwed.

[DarkAngelAsSatan]

taking this for 99% true == 50% drop, Stephen Roach takes it easy - he will take a vacation I guess.

[Stan1208]

The sheep of America are following Obama as if he is magic. He will lead us to the greatest single casatrophe the world has ever seen. and it will be too late.

[Robikus]

And just how is he doing that?

[BullGuy87]

He does not have to do much. he can't do much, and that's the problem!!!

ALL FINANCIAL instruments HAVE BEEN USED with little or no results

SOME FISCAL INSTRUMENTS ARE LEFT but that's CHANGING FAST.

The Problem out grew the solution; this is a very unique situation we are in.

Nobody, doesn't matter how intelligent he is, will be able to fix this situation shortly. it's a process and it will take time to revitalize "CIRCULAR FLOW OF CASH"

[Robikus]

Then you disagree with Stan1208 when he says of Obama "He will lead us to the greatest single casatrophe the world has ever seen." Sounds like you're saying it was the previous administation who started this train rolling.

[Shaddi100202]

Stan1208: "The sheep of America are following Obama as if he is magic. He will lead us to the greatest single casatrophe the world has ever seen. and it will be too late".

It's already too late, the people got manipulated and don't even know it yet.

[wrinkles1931]

The train was already on the tracks at full speed ahead 2 years ago...Think GW Bush......

[detroitsports77]

gw bush already led us into the greatest catastrophe. spent all our money on an unwinnable war so the oil barons could get their greedy hands on all the oil in iraq. weapons of mass destruction was merely the bullshit reason spoonfed to the american public and everyone ate it up. including you stan. you conservative moron. you think by giving the rich a break that youll in turn get a break? ha! the jokes on you pal..............

[jjrglobal]

detroitsports

So you know absolutely nothing yet think you need to voice your ignorance, why?

[shroomduke]

well said detroit!

These Wanna-be robber barrons are nothing but small time nobodies that have been suckered into believeing some day, if they play their cards right they too will be WEALTHY men. If they just pick the Right Stock or get in on the ground floor of the next Global Phenomena they will be BLESSED BY GOD with copious amounts of Cash and adoration by all who matter, even land that Super Model or movie star!

They are all gullable suckers spewing the vomit of greed!

[Wrkoutguy08]

So, all of you think this is tied into politics? Sure there were times when Bush's Monetary policy fueled inflation, but this economy has more to do with irresponsible lending than anything else.

[beancube2008]

People believe trapping China will capture the Asia. What did Chinese think of it. Their traditional and their collectivism philosophy don't represent their desires. Both education and media seem not be able to penetrate common people because they all look the same, seemingly loyal followers that however ignoring how those leaders display their desires. They know how warehouses should be staged. They know businesses must be injected into those militarism so they know where it is the end of it.

[sccoast1700]

The USA should be a manufacturing nation. Not just consumers. Globalism is destroying us. The American people need to turn this around by buying American products. Boycott all imports and

save your job. To hell with these corporate pikgs and their plans. We need to save ourselves.

[regalrecaller]

agreed.

[bongzz15]

I think that not only will the stimulate package for australia will boost happyness within the community it will save small buisnesses and dieing bigger busieness's another fact is that if people spend there part of the stimulate package, on new household appliances such as many electronic things the effect of this will benifit the enviroment so much because the new appliances have more smarters energy saving factors which will reduce climate change

[FattKidd]

Globalism IS the problem. It is an inefficiant economic model. It makes no sense for someone to produce food/goods/etc for someone in the US when that someone in the US is perfectly capable of producing it themselves but without all of the cost & enviro impact of shipping those goods half-way around the world. It's nothing more than a model for exploitation of natural resources & slave labor. The future is local. Local food, local goods, local services. Keep your $ in your community. Buy local.

[befranklintoo]

2009 is the same game as 1909 when the central bankers of europe

had a conference in ascona switzerland. it is now davos.

[Plutonwolf]

What is wonderful about having a functional memory is that it can enable one to remember darling little tidbits that some would prefer to be forgotten. Such a tidbit as this theme from 2000 when there was a budgetary surplus "Hey, that's my money, gimme it back, lower my taxes now, I want my money and I don't want to hear about no damn balanced budget or no paying down of the national debt."

The preceding quote was brought to you by someone that remembers all of the bullshit spouted.

[mdelcamp1]

The simple solution this Davos crowd cannot fathom: Hiring me for a minimum $30,000/year job, with the normal job benefits for a Middle Class American. Either that, or you can all join me in my financial distress. You play for keeps, and so do I.

[WhoRonPaul]

...and i feel fine

[ubuibiok]

next year.....at best.

[hurchel]

If it is all the worlds economy, where is all the money, who is taking the money? 2.5 is better than nothing, and anemic is still alive.

[Krumbz2003]

Look no further then the Federal Reserve Bank.

THAT is where the money IS and where it will all be going to.

[hurchel]

No krumbz2003, it is not just them, it is black psychops, redevelopment agencies, blight in already congested with strip mall cities, houses with 6 ft of land around them going from 1oo thou to 500 thous as affordable housing, men who make their living defrauding the government through the use of grants, it is one financial institute that beats it's bad paper to death them sells the bad assets to new lenders as recoverable assets and then they have to bury it. Like musical chairs, last seat..

[sugarpuddin88]

Every 15 months, the USA owes another trillion dollars against Gov expenses!

Prop up the bad guys with money!

Reward the mistakes!

Weve increased the Money Supply 70% since October!!!!!

Can you imagine?!

Bernanke refused to show up the other day before congress

Altogether, the worlds markets over the past four weeks saw $11 trillion worth of assets wiped out. This sum corresponds to virtually the entire annual gross national product of the US, or the European Union

[sugarpuddin88]

Fed debt per person: $58K

Un-funded Medicare/Medicaid per person: $332K

Fed's plundered trusts per person: $30K

Un-funded SS: $166K

Every American owes: $586K for FED debt

Gov grows 4 Xs faster than economy

Fed spending grows 16 times faster than economy, (16 fold expansion in control & gov dependence)

The US gov now holds 57% share of entire National Income = Government makes more than all the money made in private sector!

How long does the USA honestly think it will last?