Recovery? There's No Recovery! The U.S. Is Completely Screwed! - Howard Davidowitz

Recovery?!? There's No Recovery! The U.S. Is Completely Screwed!
Posted Apr 09, 2010 07:30am EDT by Henry Blodget in Investing, Recession, Banking, Autos, Housing, Emerging Markets, China


Retail analyst Howard Davidowitz of Davidowitz & Co. has always been one of our viewers' favorite guests. Howard's flamboyant bearishness won hearts and minds all through the financial crisis, and we--and you--never get tired of hearing from him.

But Howard has been bearish for a year now--all through one of the most amazing bull runs in history. Against all odds, the U.S. economy appears to be gathering steam by the day, charging out of the worst recession since the Great Depression and heading toward a strong recovery.

So what does Howard think about that? Has he changed his tune? Was he completely wrong?

NO WAY!!!

In Howard's view, nothing has changed. Howard thinks the U.S. is still careening down the road toward a hell of fiscal instability, over-indebtedness, ballooning budget deficits and interest payments, and declining living standards.

The U.S. is broke, Howard says. The current "sucker's rally" will end up like all the sucker's rallies that have tormented Japan for the past two decades. It will be a false dawn that will momentarily distract everyone from the enormous fiscal challenges we face ... and then reality will take hold again.

We won't be able to get out of our pickle without tremendous pain, Howard says. The American people are figuring that out. And the American people won't stand for the status quo anymore.

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[zx6me1983]

yep thanks to the big bankers! Hey big bankers how much will you money be worth when the 99 percent riot the whole country ? what then? then you will be spending money to keep yourself alive

[MrArjangJameh]

@TECH4DERPS 

[MrArjangJameh]

@rulerwithcounsel You also need to wakeup! US or Israel are NOT run by presidents, their run by big business. Israel is facing the same crap these days as the U.S. Its regular 99% people who are being screwed around the World. Sure, jews run shiiit in america. But what about the rest of the world? Its greedy business practice thats ruining everything. Greed is NOT a genetic trait, its fostered and perpetuated because of our VERRRRY FKED up system of money. So the system is to blame, not people.

[rulerwithcounsel]

@Seannyboyyoo Fair enough, no offence meant or taken. It wasnt a racist comment -jews are not a race but theyre everywhere in banking. It just happens to be an easily provable observation. If it were Aboriginals or Vietnamese Id have said so.

[Seannyboyyoo]

@rulerwithcounsel america is owned by the capitalists who answer to money, hell, sure, some of them are jews but what the fuck does that have to do with anything, im not looking to get into some back in forth with you, but don't play the racial card, its a poor argument. GREED IS TO BLAME, AND GREED IS PRESENT IN ALL RACES!!! dont be another dipshit racists going after jewish people who are just trying to earn a dollar like the rest of us fucks.

[rulerwithcounsel]

This jew Davidowitz knows exactly that the US is doomed - as planned by his secret zionist 'buddies'. Americans can demand whatever they want - but they wont get it. Your counrty is owned by Israel. Netanyahu is your real president. Obama a stooge, Debt is slavery. the US is a slave. Wake up!

[TECH4DERPS]

we should just stop the wars and focus on the economy

[cshargeit]

cut all real estate values by half cut all rents by half- problem solved.

[matt06830]

Respond to this video... 

[lgarvey1979]

@T0B0KKE We have the Bank of England and the european central bank.