Ruh oh, What does Dr Doom Predict Next?

[California Girl]

Those who pay attention to the world outside our borders – and we really should since it impacts on us – will be aware that there was recently a World Economics Forum in Darvos, Switzerland.

Attending said Forum was Dr Nouriel Roubini (world famous Economist), nicknamed Dr Doom for his dire predictions prior to those predictions becoming reality around the world. Smart, smart, smart man. Nowadays, governments around the world listen to him… because he’s been right about so much shit hitting so many fans. I should, perhaps, mention that Dr Roubini is a Professor of Economics and International Business at NY University.

Now, I can’t provide you with a link to some crap media report about what he said at the forum… mainly because the media are either ignoring it or pandering to whatever political agenda best suits their reporting.

But…. What did he say? And who the hell is gonna listen? I can answer – in part – the first question ... He said:

The biggest coming issue is a potential conflict between the US (with Israel) and Iran. He predicts that conflict may lead to oil prices rocketing to $150 per barrel. That would, in turn, lead to another global recession.

He said both the US and Europe needs to radically reform to stop its debt mountain, otherwise the world economy will not recover and both will continue to see their standard of living fall. He is very pessimistic about both the EU and US taking the steps necessary to push themselves into a strong recovery.

He – and the IMF – say that the global economy is getting weaker… and they predict only 3.0-3.3% growth in the coming year. His prediction for US growth is between 1.7-1.8%.... and predicts that unemployment will remain high.

He mentioned issues with China becoming less stable because of its over reliance on foreign markets, and under-consumption (I have mentioned that one several times on the forum).

He talked about how too much debt in both the public and private sectors may take up to a decade to restablize.

In short, we need to clean up our balance sheet – as a nation and invest in the things that will make us more productive in the future.

So what did he suggest that nations do? Clean up our debt, and shift our investments from the ‘quick profit’ sectors such as finance and real estate to investing in our human capital (people), our structure, technology and innovation.

I think he’s right. We are America – a nation of innovators, entrepreneurs, and optimism.

Next question…. Who is listening to Dr Doom?

I don’t know…. But I really hope that Obama…. And whoever is next in line – are paying close attention in class.

 

[California Girl]

Oh... I'll make a prediction of my own.... no one will want to discuss this... and those who do reply will 'blame' Bush, the Republicans, the right, the wealthy, yadda, yadda, yadda.

 

[RetiredGySgt]

Those who pay attention to the world outside our borders – and we really should since it impacts on us – will be aware that there was recently a World Economics Forum in Darvos, Switzerland.

Attending said Forum was Dr Nouriel Roubini (world famous Economist), nicknamed Dr Doom for his dire predictions prior to those predictions becoming reality around the world. Smart, smart, smart man. Nowadays, governments around the world listen to him… because he’s been right about so much shit hitting so many fans. I should, perhaps, mention that Dr Roubini is a Professor of Economics and International Business at NY University.

Now, I can’t provide you with a link to some crap media report about what he said at the forum… mainly because the media are either ignoring it or pandering to whatever political agenda best suits their reporting.

But…. What did he say? And who the hell is gonna listen? I can answer – in part – the first question ... He said:

The biggest coming issue is a potential conflict between the US (with Israel) and Iran. He predicts that conflict may lead to oil prices rocketing to $150 per barrel. That would, in turn, lead to another global recession.

He said both the US and Europe needs to radically reform to stop its debt mountain, otherwise the world economy will not recover and both will continue to see their standard of living fall. He is very pessimistic about both the EU and US taking the steps necessary to push themselves into a strong recovery.

He – and the IMF – say that the global economy is getting weaker… and they predict only 3.0-3.3% growth in the coming year. His prediction for US growth is between 1.7-1.8%.... and predicts that unemployment will remain high.

He mentioned issues with China becoming less stable because of its over reliance on foreign markets, and under-consumption (I have mentioned that one several times on the forum).

He talked about how too much debt in both the public and private sectors may take up to a decade to restablize.

In short, we need to clean up our balance sheet – as a nation and invest in the things that will make us more productive in the future.

So what did he suggest that nations do? Clean up our debt, and shift our investments from the ‘quick profit’ sectors such as finance and real estate to investing in our human capital (people), our structure, technology and innovation.

I think he’s right. We are America – a nation of innovators, entrepreneurs, and optimism.

Next question…. Who is listening to Dr Doom?

I don’t know…. But I really hope that Obama…. And whoever is next in line – are paying close attention in class.

Obama is NOT listening. He wants the budgets to stay like they are or grow, ANYTIME he talks of balancing the budget or paying down the debt it is always AFTER he is out of his second term. And the Dems are in lock step with him.

I don't see Romney doing much about the Budget either, he will spend just as bad. We need to clean out the cronies in the Congress and get a new slate in that will force the President, whom ever he is to cut spending.

That means conservatives that really are conservative. And I don't see that happening either. To many people want their dole. No one wants cuts except to play lip service to the idea.

 

[California Girl]

Those who pay attention to the world outside our borders – and we really should since it impacts on us – will be aware that there was recently a World Economics Forum in Darvos, Switzerland.

Attending said Forum was Dr Nouriel Roubini (world famous Economist), nicknamed Dr Doom for his dire predictions prior to those predictions becoming reality around the world. Smart, smart, smart man. Nowadays, governments around the world listen to him… because he’s been right about so much shit hitting so many fans. I should, perhaps, mention that Dr Roubini is a Professor of Economics and International Business at NY University.

Now, I can’t provide you with a link to some crap media report about what he said at the forum… mainly because the media are either ignoring it or pandering to whatever political agenda best suits their reporting.

But…. What did he say? And who the hell is gonna listen? I can answer – in part – the first question ... He said:

The biggest coming issue is a potential conflict between the US (with Israel) and Iran. He predicts that conflict may lead to oil prices rocketing to $150 per barrel. That would, in turn, lead to another global recession.

He said both the US and Europe needs to radically reform to stop its debt mountain, otherwise the world economy will not recover and both will continue to see their standard of living fall. He is very pessimistic about both the EU and US taking the steps necessary to push themselves into a strong recovery.

He – and the IMF – say that the global economy is getting weaker… and they predict only 3.0-3.3% growth in the coming year. His prediction for US growth is between 1.7-1.8%.... and predicts that unemployment will remain high.

He mentioned issues with China becoming less stable because of its over reliance on foreign markets, and under-consumption (I have mentioned that one several times on the forum).

He talked about how too much debt in both the public and private sectors may take up to a decade to restablize.

In short, we need to clean up our balance sheet – as a nation and invest in the things that will make us more productive in the future.

So what did he suggest that nations do? Clean up our debt, and shift our investments from the ‘quick profit’ sectors such as finance and real estate to investing in our human capital (people), our structure, technology and innovation.

I think he’s right. We are America – a nation of innovators, entrepreneurs, and optimism.

Next question…. Who is listening to Dr Doom?

I don’t know…. But I really hope that Obama…. And whoever is next in line – are paying close attention in class.

Obama is NOT listening. He wants the budgets to stay like they are or grow, ANYTIME he talks of balancing the budget or paying down the debt it is always AFTER he is out of his second term. And the Dems are in lock step with him.

I don't see Romney doing much about the Budget either, he will spend just as bad. We need to clean out the cronies in the Congress and get a new slate in that will force the President, whom ever he is to cut spending.

That means conservatives that really are conservative. And I don't see that happening either. To many people want their dole. No one wants cuts except to play lip service to the idea.

I agree about Obama. But not about Romney. I think Romney knows the kind of crap we're in. But I think, if he became our next President, that he would address the debt... possibly not quickly but a President needs to take this debt thing seriously, but not panic the country, and balance the necessary cuts with not increasing the unemployment.

The hard fact that we must face - ok, not a 'fact' as such - but a very educated opinion... is that we will not see a 'V' recovery like we expect to see.... but it will be a 'U' recovery... the question is, have we hit the bottom of the curve or not?

 

[DSGE]

We're not seeing a V shaped recovery because monetary policy is too tight. There are many parallels between the current situation and the Depression, the most important yet widely ignored one being that it's caused by falling nominal spending. It's infuriating when people look at interest rates or the monetary base and say "money is the loosest it's ever been". It's slightly more infuriating when people think fiscal stimulus is necessary. The Fed needs to be given an explicit NGDP level target and made accountable when that target isn't met.

 

[Mad Scientist]

Oh... I'll make a prediction of my own.... no one will want to discuss this... and those who do reply will 'blame' Bush, the Republicans, the right, the wealthy, yadda, yadda, yadda.

The people who meet in Davos are planning the end of Capitalism. Roubini may have a say at the conference or publish a paper or two while he's there, fine.

But the whole point of Davos is to plan the end of capitalism and bring in world gov't. But of course, anyone who says so is a "conspiracy theorist" even thought they're doing it right out in the open.

I know I've posted this alot, sorry. But it illustrates the futility of voting straight party and expecting them to save us.

 

[California Girl]

Oh... I'll make a prediction of my own.... no one will want to discuss this... and those who do reply will 'blame' Bush, the Republicans, the right, the wealthy, yadda, yadda, yadda.

The people who meet in Davos are planning the end of Capitalism. Roubini may have a say at the conference or publish a paper or two while he's there, fine.

But the whole point of Davos is to plan the end of capitalism and bring in world gov't. But of course, anyone who says so is a "conspiracy theorist" even thought they're doing it right out in the open.

I know I've posted this alot, sorry. But it illustrates the futility of voting straight party and expecting them to save us.

While I don't disagree, we do have a global marketplace. What happens in one country impacts around the world. So I don't see the 'conspiracy theory' the same way as such. But I'm certainly not saying you're wrong.

 

[Wry Catcher]

Those who pay attention to the world outside our borders – and we really should since it impacts on us – will be aware that there was recently a World Economics Forum in Darvos, Switzerland.

Attending said Forum was Dr Nouriel Roubini (world famous Economist), nicknamed Dr Doom for his dire predictions prior to those predictions becoming reality around the world. Smart, smart, smart man. Nowadays, governments around the world listen to him… because he’s been right about so much shit hitting so many fans. I should, perhaps, mention that Dr Roubini is a Professor of Economics and International Business at NY University.

Now, I can’t provide you with a link to some crap media report about what he said at the forum… mainly because the media are either ignoring it or pandering to whatever political agenda best suits their reporting.

But…. What did he say? And who the hell is gonna listen? I can answer – in part – the first question ... He said:

The biggest coming issue is a potential conflict between the US (with Israel) and Iran. He predicts that conflict may lead to oil prices rocketing to $150 per barrel. That would, in turn, lead to another global recession.

He said both the US and Europe needs to radically reform to stop its debt mountain, otherwise the world economy will not recover and both will continue to see their standard of living fall. He is very pessimistic about both the EU and US taking the steps necessary to push themselves into a strong recovery.

He – and the IMF – say that the global economy is getting weaker… and they predict only 3.0-3.3% growth in the coming year. His prediction for US growth is between 1.7-1.8%.... and predicts that unemployment will remain high.

He mentioned issues with China becoming less stable because of its over reliance on foreign markets, and under-consumption (I have mentioned that one several times on the forum).

He talked about how too much debt in both the public and private sectors may take up to a decade to restablize.

In short, we need to clean up our balance sheet – as a nation and invest in the things that will make us more productive in the future.

So what did he suggest that nations do? Clean up our debt, and shift our investments from the ‘quick profit’ sectors such as finance and real estate to investing in our human capital (people), our structure, technology and innovation.

I think he’s right. We are America – a nation of innovators, entrepreneurs, and optimism.

Next question…. Who is listening to Dr Doom?

I don’t know…. But I really hope that Obama…. And whoever is next in line – are paying close attention in class.

Isn't this (So what did he suggest that nations do? Clean up our debt, and shift our investments from the ‘quick profit’ sectors such as finance and real estate to investing in our human capital (people), our structure, technology and innovation) what Obama has been advocating for the past three + years?

I haven't heard anything from the other side other than "drill baby drill" and cut, cut cut (taxes, regulations and health care).

 

[California Girl]

Those who pay attention to the world outside our borders – and we really should since it impacts on us – will be aware that there was recently a World Economics Forum in Darvos, Switzerland.

Attending said Forum was Dr Nouriel Roubini (world famous Economist), nicknamed Dr Doom for his dire predictions prior to those predictions becoming reality around the world. Smart, smart, smart man. Nowadays, governments around the world listen to him… because he’s been right about so much shit hitting so many fans. I should, perhaps, mention that Dr Roubini is a Professor of Economics and International Business at NY University.

Now, I can’t provide you with a link to some crap media report about what he said at the forum… mainly because the media are either ignoring it or pandering to whatever political agenda best suits their reporting.

But…. What did he say? And who the hell is gonna listen? I can answer – in part – the first question ... He said:

The biggest coming issue is a potential conflict between the US (with Israel) and Iran. He predicts that conflict may lead to oil prices rocketing to $150 per barrel. That would, in turn, lead to another global recession.

He said both the US and Europe needs to radically reform to stop its debt mountain, otherwise the world economy will not recover and both will continue to see their standard of living fall. He is very pessimistic about both the EU and US taking the steps necessary to push themselves into a strong recovery.

He – and the IMF – say that the global economy is getting weaker… and they predict only 3.0-3.3% growth in the coming year. His prediction for US growth is between 1.7-1.8%.... and predicts that unemployment will remain high.

He mentioned issues with China becoming less stable because of its over reliance on foreign markets, and under-consumption (I have mentioned that one several times on the forum).

He talked about how too much debt in both the public and private sectors may take up to a decade to restablize.

In short, we need to clean up our balance sheet – as a nation and invest in the things that will make us more productive in the future.

So what did he suggest that nations do? Clean up our debt, and shift our investments from the ‘quick profit’ sectors such as finance and real estate to investing in our human capital (people), our structure, technology and innovation.

I think he’s right. We are America – a nation of innovators, entrepreneurs, and optimism.

Next question…. Who is listening to Dr Doom?

I don’t know…. But I really hope that Obama…. And whoever is next in line – are paying close attention in class.

Isn't this (So what did he suggest that nations do? Clean up our debt, and shift our investments from the ‘quick profit’ sectors such as finance and real estate to investing in our human capital (people), our structure, technology and innovation) what Obama has been advocating for the past three + years?

I haven't heard anything from the other side other than "drill baby drill" and cut, cut cut (taxes, regulations and health care).

No, he's been pandering to specific companies without giving a shit that his 'stimulus' funding for certain companies destroyed hundreds of very small, very focused high tech companies who were trying to develop better technology.

He panders, he does not support taking the economic steps necessary to support business.

Oh and - congratulations on totally ignoring the real issues and trying to make this a 'high five' to your incompetent Messiah. But you failed.

 

[Paulie]

I make those same predictions myself and I have no official education on any of the topics.

It's not hard to predict that the world is fucked right now.

 

[California Girl]

I make those same predictions myself and I have no official education on any of the topics.

It's not hard to predict that the world is fucked right now.

But did you accurately forecast each and every clusterfuck that got us here?

He did. He was talking about a 'perfect storm' of economic chaos when the rest of the world was 'living the dream'. He told us it would be a nightmare. He was right.

 

[Paulie]

I make those same predictions myself and I have no official education on any of the topics.

It's not hard to predict that the world is fucked right now.

But did you accurately forecast each and every clusterfuck that got us here?

He did. He was talking about a 'perfect storm' of economic chaos when the rest of the world was 'living the dream'. He told us it would be a nightmare. He was right.

So did the entire field of Austrian School theorists, while the media laughed them off interviews and marginalized them in their reporting every chance they got.

I mean no offense to you by this, but I'm not all that much impressed anymore by any one specific person's ability to have predicted this economic mess, because there were plenty of people.

 

[samjones]

He did. He was talking about a 'perfect storm' of economic chaos when the rest of the world was 'living the dream'. He told us it would be a nightmare. He was right.

Alot of people say alot of things. After shit happens people go back to see which one of them was right and proclaim him or her to be the oracle.


You may look really smart if you buck the trend and turn out to be right, but you aren't going to be able to pull it off more than once.

 

[samjones]

So did the entire field of Austrian School theorists, while the media laughed them off interviews and marginalized them in their reporting every chance they got.

They're still doing that. The Austrian School Theorists have practically zero impact on public policy. They're really just a bunch of crotchety kooks..... Not hard to find them on the Internet, though.

 

[Paulie]

So did the entire field of Austrian School theorists, while the media laughed them off interviews and marginalized them in their reporting every chance they got.

They're still doing that. The Austrian School Theorists have practically zero impact on public policy. They're really just a bunch of crotchety kooks..... Not hard to find them on the Internet, though.

Who said anything about having impact on policy? What does that have to do with anything?

You ought to be recognizing the irony in that they seem to be the best at calling bubbles and downturns while never being given credibility.

 

[California Girl]

He did. He was talking about a 'perfect storm' of economic chaos when the rest of the world was 'living the dream'. He told us it would be a nightmare. He was right.

Alot of people say alot of things. After shit happens people go back to see which one of them was right and proclaim him or her to be the oracle.


You may look really smart if you buck the trend and turn out to be right, but you aren't going to be able to pull it off more than once.

He had pulled it off, more than once. He called it on the 'perfect storm'. That's possibly why so many pay attention to him now. I don't 'proclaim' him to be anything... other than an exceptionally smart guy.

He was talking about potential issues with the Euro before they'd even launched it, he was talking about the global imbalance between countries like the US with over consumption and under production, and countries like China with under consumption and over production... and still no one wants to talk about that one... our government wants a 'consumer driven' recovery - and to hell with the damage that 'recovery' will do to individual Americans.

 

[Kiki Cannoli]

Those who pay attention to the world outside our borders – and we really should since it impacts on us – will be aware that there was recently a World Economics Forum in Darvos, Switzerland.

Attending said Forum was Dr Nouriel Roubini (world famous Economist), nicknamed Dr Doom for his dire predictions prior to those predictions becoming reality around the world. Smart, smart, smart man. Nowadays, governments around the world listen to him… because he’s been right about so much shit hitting so many fans. I should, perhaps, mention that Dr Roubini is a Professor of Economics and International Business at NY University.

Now, I can’t provide you with a link to some crap media report about what he said at the forum… mainly because the media are either ignoring it or pandering to whatever political agenda best suits their reporting.

But…. What did he say? And who the hell is gonna listen? I can answer – in part – the first question ... He said:

The biggest coming issue is a potential conflict between the US (with Israel) and Iran. He predicts that conflict may lead to oil prices rocketing to $150 per barrel. That would, in turn, lead to another global recession.

He said both the US and Europe needs to radically reform to stop its debt mountain, otherwise the world economy will not recover and both will continue to see their standard of living fall. He is very pessimistic about both the EU and US taking the steps necessary to push themselves into a strong recovery.

He – and the IMF – say that the global economy is getting weaker… and they predict only 3.0-3.3% growth in the coming year. His prediction for US growth is between 1.7-1.8%.... and predicts that unemployment will remain high.

He mentioned issues with China becoming less stable because of its over reliance on foreign markets, and under-consumption (I have mentioned that one several times on the forum).

He talked about how too much debt in both the public and private sectors may take up to a decade to restablize.

In short, we need to clean up our balance sheet – as a nation and invest in the things that will make us more productive in the future.

So what did he suggest that nations do? Clean up our debt, and shift our investments from the ‘quick profit’ sectors such as finance and real estate to investing in our human capital (people), our structure, technology and innovation.

I think he’s right. We are America – a nation of innovators, entrepreneurs, and optimism.

Next question…. Who is listening to Dr Doom?

I don’t know…. But I really hope that Obama…. And whoever is next in line – are paying close attention in class.

Isn't this (So what did he suggest that nations do? Clean up our debt, and shift our investments from the ‘quick profit’ sectors such as finance and real estate to investing in our human capital (people), our structure, technology and innovation) what Obama has been advocating for the past three + years?

I haven't heard anything from the other side other than "drill baby drill" and cut, cut cut (taxes, regulations and health care).

No, he's been pandering to specific companies without giving a shit that his 'stimulus' funding for certain companies destroyed hundreds of very small, very focused high tech companies who were trying to develop better technology. He panders, he does not support taking the economic steps necessary to support business.

Oh and - congratulations on totally ignoring the real issues and trying to make this a 'high five' to your incompetent Messiah. But you failed.

California Girl can you elaborate on the bolded statement please?

Thank you.

ETA: The "destroyed..." bolded statement.

 

[samjones]

So did the entire field of Austrian School theorists, while the media laughed them off interviews and marginalized them in their reporting every chance they got.

They're still doing that. The Austrian School Theorists have practically zero impact on public policy. They're really just a bunch of crotchety kooks..... Not hard to find them on the Internet, though.

Who said anything about having impact on policy? What does that have to do with anything?

You ought to be recognizing the irony in that they seem to be the best at calling bubbles and downturns while never being given credibility.

It'd normal. Good for them that they're "predictions" could, within some limits, claim to have matched what happened.

Bottom-line they're recommendations are unworkable in the real world and their entire philosophy is badly flawed. It doesn't really matter whether their predictions were right or wrong. If Congress, the Fed or the White House ever took anything these kooks say seriously then we would have economic Armageddon.... So they're just whistling in the wind.

 

[samjones]

That's possibly why so many pay attention to him now.

Not really so many at all.... otherwise you wouldn't have to explain to us who he is.

 

[DSGE]

I make those same predictions myself and I have no official education on any of the topics.

It's not hard to predict that the world is fucked right now.

But did you accurately forecast each and every clusterfuck that got us here?

He did. He was talking about a 'perfect storm' of economic chaos when the rest of the world was 'living the dream'. He told us it would be a nightmare. He was right.

So did the entire field of Austrian School theorists, while the media laughed them off interviews and marginalized them in their reporting every chance they got.

I mean no offense to you by this, but I'm not all that much impressed anymore by any one specific person's ability to have predicted this economic mess, because there were plenty of people.

Really? You mean they didn't do their same old schtick that "low interest rates cause bubbles" like they've been doing for the past 70 years. Stopped clock and all.

Of course if you can provide an Austrian who brought our attention to the importance of asset-backed securities and collateralized debt obligations in allowing banks to become highly leveraged, the misrating of risky assets as AAA, and the problems of management being incentivised to pursue short-run profit; then I'll give credit where it's due. If it's the same old "the Fed causes bubblz!" garbage, I'm gonna keep laughing.