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Is the World Economy Heading Into a 'Perfect Storm'?

Daryl 2012/07/09 21:00:00
Yes, the world economy is on the verge of collapse.
No, the world economy is not on the verge of collapse.
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“(The) 2013 perfect storm scenario I wrote on months ago is unfolding,” Roubini said on Twitter on Monday.

CNBC.COM reports:
"Dr. Doom" Nouriel Roubini says the "perfect storm" scenario he forecast for the global economy earlier this year is unfolding right now as growth slows in the U.S., Europe as well as China.
world economy  dr doom

Read More: http://www.cnbc.com/id/48116835

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  • Zombie Saddam 2012/07/09 23:57:16
    No, the world economy is not on the verge of collapse.
    Zombie Saddam
    +22
    The funny thing about economics is that it's all made up. Think about it. Society progressed from cave men, to stone masons to urban dwellers that could make rockets to put men on the moon. All because we said a shiny rock and then a piece of paper had value. It's a funny thing economics. Funnier still is that what will send the world off a cliff and help nobody will be stock markets and treasury bonds crashing, both of which signify nothing material but are purely speculative.

    Imagine an alien civilization looking at us from above. Seeing that we are ruining ourselves by placing blind trust in a system that is entirely smoke and mirrors designed to hand out incentives.

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  • V~POTL~... Wizard 2012/07/12 04:07:07
    V~POTL~PWCM~JLA
    I can believe in the concept of using debt to build infrastructure, but the majority of stimulus money was spent on non-infrastructure expenses, like subsidizing COBRA premiums for the unemployed, temporary funding of teachers, police, firefighters, etc.

    The use of Federal borrowing to build USEFUL infrastructure of enduring economic value is more the exception than the rule. Every once in a while, the Federal government gets it right: interstate highways, the space program, the Internet. But they usually get it wrong. For every well-placed bridge or highway, there is a joke like the empty Murtha airport in Pennsylvania, roads to nowhere, or yet another federal grant to install traffic cameras. The economy will not thrive on a diet of pork.

    In the beginning, Obama seemed to think he could spend money on just about anything and get a stimulus effect. Truth is, not all spending is equally stimulating to the economy. In November, it's time to add up the scores and see if all of this spending was helpful. One way or another, the day of accountability is approaching.

    Behold, Mr. Obama in his own words (at the beginning of the video):
  • Boetica 2012/07/11 05:08:04
    Yes, the world economy is on the verge of collapse.
    Boetica
    +5
    Obama is doing everything he can to implement Soros's plan of economic collapse in order to install a one world totalitarian regime.

    Every economic policy he has is meant to destroy.
  • Wizard Boetica 2012/07/11 06:15:52
    Wizard
    +1
    see above
  • Zoomie 2012/07/11 04:09:19
    No, the world economy is not on the verge of collapse.
    Zoomie
    +1
    Should be remembered that Roubini got the nickname "Dr Doom" because he accurately predicted that GOP/Bush economic policies were NOT creating growth as the GOP claimed for years, but were in fact setting us up for a major economic collapse (and we got the Bush Great Recession as a result). He now says our refusal to make major changes (not the GOP changes, which are just a rollback to the bad days of the Bush years, but actual major changes) combined with the EU's austerity plans are creating a global collapse!
  • Boetica Zoomie 2012/07/11 05:11:19
    Boetica
    +1
    Much of the growth even before Bush was based on over-extended credit. Bush made some errors, but he certainly doesn't carry sole responsibility. There is plenty of blame to go around, whatever letter is behind one's name in the UNITED STATES CONGRESS.
  • Jon Hor... Zoomie 2012/07/11 06:57:18
    Jon Horvalt
    +1
    The demonrats went further with their propagation of bubbles (FNM/FRE, beating up bankers to make loans to those uncreditworthy ones, all for corrupt political reasons (i.e. political power grab)....The libtards-demonRATS are TRULY the cause of our problems in America.
  • Diddley Squat 2012/07/11 03:54:42
    No, the world economy is not on the verge of collapse.
    Diddley Squat
    +1
    That's not going to happen. China, India, Brazil, those are all countries on the rise.

    I do worry, though, that if Mitt Romney is elected, he'll go whichever way the extreme right tells him and wreck our economy.
  • Boetica Diddley... 2012/07/11 05:11:51
    Boetica
    +4
    Mitt Romney is not a puppet like your false messiah.
  • Wizard Diddley... 2012/07/11 06:22:47 (edited)
    Wizard
    It is very hard to lead among emerging equals. Our best economic bet is to look for a favorable position among competitors, then try and get to the top. Right now, a communist system is beating the pants off of a capitalistic system. (China) Yes, they are having problems...but they are growing their economy, as far as we know.

    America needs to prove we can keep up. But, it requires implementing a hybrid system, that includes socialism. America is strongest when its backup systems are in full repair. (Social Programs)

    As much as the GOP Tea Party wishes, America is NOT a full blown Capitalistic state. Otherwise, we'd look like the Philippines, where Capitalism is still basically unregulated.
    America is a socialist hybrid like England, and Australia, our allies. We can only move off our hybrid base by becoming more Fascist. I do not think anyone in here thinks Fascism is a good idea. But, if you follow the Tea Party out to the letter, that is your end product.
  • Leantom... Wizard 2012/07/11 22:00:23
    Leantom, the Economic Rationalist
    There's a ton of misinformation in this post.

    1. China's corporate tax rates is 20%. That is twice as low as the U.S.'s. Farming and manufacturing are entirely privatized in China, thus making production uber-capitalistic. China dumped Maoism in the late 70's and early 80's, opting to privatize most of their resources. The end result is a booming economy, one that puts the United States and W. Europe to shame. China is far more capitalistic than the United States at this point in time.

    2. Social programs do nothing to incur economic activity. They merely transfer wealth from one segment of the population to the other. This is because a government can only acquire resources and wealth through taxation (i.e., which are then used to fund social programs).

    3. The country was far better when the economy was heavily capitalistic and operated under a fixed Rule-of-Law, not central-planning. The better economies in the world follow this model. For example, Hong Kong, Switzerland, Israel and Singapore are far more economically stable than W. Europe and the United States. The most successful economies are those that approximate capitalism and allow for the most free-trade and producer innovation. In other words, a good 'hybrid base' is not 50-50 capitalism-socialism. It is overwhelmingly capitalist with a government that is constrained by a Constitution.

    Free trade and the laws of supply-and-demand are not fascist. Get a clue.
  • Aqua Su... Diddley... 2012/07/11 07:05:07
    Aqua Surf BTO-t-BCRA-F
    +1
    Hello? Obama has already wrecked the economy, geez wake up!
  • Susan Diddley... 2012/07/11 14:28:51
    Susan
    Worse than it is already? At least Romney gets it when it comes to making money. Obama is only great at spending ours!
  • doc moto 2012/07/11 03:48:42
    Yes, the world economy is on the verge of collapse.
    doc moto
    +1
    everything to collapsible homes, cars, economy and rule of law; we are being held hostage here!
    http://www.youtube.com/watch?...
    welcome to america!
  • Redneck 2012/07/11 03:15:09
    Yes, the world economy is on the verge of collapse.
    Redneck
    +2
    I don't know about immediate verge, but we are getting very close I fear. I'm prepared though. Remember, A COUNTRY BOY CAN SURVIVE. When/if it happens, it will suck to by a city boy.
  • ohsmith ☮ R P ☮ 2012 ☮ 2012/07/11 02:47:12
    Yes, the world economy is on the verge of collapse.
    ohsmith ☮ R P ☮ 2012 ☮
    I'm sure Ron Paul will help US to get back to ship shape.
  • weenyboy 2012/07/11 02:36:10
    No, the world economy is not on the verge of collapse.
    weenyboy
    +1
    The world has been in financial distress before.... just look at the years during and following WW II! This is the same DOOM & GLOOM talk reminiscent of the crazies like Glenn Beck who makes MILLIONS per year talking this same exact nonsense! Funny how this comes up mere months before an election..... You want REAL gloom & doom , put Romney into the White House with the Paul Ryan budget. Watch the END of Medicare and Social Security while MORE tax breaks for the super -rich are passed. Time to pay back the Koch Bros. for their MULTI-MILLION Dollar investment.... Willard Romney!
  • Boetica weenyboy 2012/07/11 05:15:27
    Boetica
    +5
    "Socialism is stupidism". Capitalism has created more prosperity for the common man than any other system.

    The Koch brothers, Mitt Romney, and Paul Ryan are not interested in creating a nation of serfs. You need to get a refill on those anti-psychotics dude.
  • Wizard Boetica 2012/07/11 06:31:44 (edited)
    Wizard
    Pure Capitalism has produced countries like the Philippines. The USA grew much faster once we had a hybrid system in place.

    If you do not wish to look like the Philippines (sorry Philippines), then you NEED the social backup systems that exist in America, England, and Australia. Trying to revert back to a more pure Capitalistic state will only lead to catastrophic failure for the majority of the population.
  • weenyboy Boetica 2012/07/14 16:41:56
    weenyboy
    +1
    Of course you realize that you're a complete idiot,right? SHOW ME one good "capitalist" who refused to participate in socialistic Medicare! Show me one who DID NOT apply for the socialistic Social Security payments! Show me one who refused to call for the police and fire dept. when in trouble.... and yes, these ARE socialistic as they arer provided by the government and NOT paid for by individuals! You can't have iit BOTH WAYS, Bunky!
  • Susan weenyboy 2012/07/11 14:30:43
    Susan
    +1
    Your name is totally befitting of you!
  • jamesphieffer 2012/07/11 02:34:46
    No, the world economy is not on the verge of collapse.
    jamesphieffer
    +2
    The greatest danger right now is psychological. While weakened, the economy is nowhere near collapse. Throughout history, there have been economic troughs of great severity, and even national bankruptcies, and yet those same countries recovered. One later became the greatest empire in history - the United Kingdom.
    So, while financial prudence must be the byword for individuals and nations these days, the sun will rise tomorrow, as the need for the essentials of life drives economies forward even if nothing else does.
  • JustTheFacts 2012/07/11 02:21:47
    Yes, the world economy is on the verge of collapse.
    JustTheFacts
    +1
    Yep...it's coming! Prepare!
  • Lone Wolf 2012/07/11 02:20:44
    Yes, the world economy is on the verge of collapse.
    Lone Wolf
  • Bibliophilic 2012/07/11 01:10:51
    No, the world economy is not on the verge of collapse.
    Bibliophilic
    Give me a break. Offer evidence to support this 'theory'.
  • Boetica Bibliop... 2012/07/11 05:22:38
    Boetica
    +3
    "Destroy the family, you destroy the country." "The way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation." "The aim of socialism is not only to abolish the present division of mankind into small states and all-national isolation, not only to bring the nations closer to each other, but also to merge them." "The surest way to destroy a nation is to debauch its currency." ------ Vladimir Lenin

    Get it now?
  • Wizard Boetica 2012/07/11 06:36:44 (edited)
    Wizard
    He was blowing hogwash. It didn't end up that way.
    It was a dictatorship. Don't get a dictatorship mixed up with a Republic.
  • daniel wayne 2012/07/11 00:57:30
    Yes, the world economy is on the verge of collapse.
    daniel wayne
    +2
    That danger exists in every country that operates with a deficit. look at greece, their deficit got too big and it all collapsed. it'll happen everywhere when the deficit gets too big. we're ignoring history and the day of reckoning WILL get here. guess who's economy isnt in deficit and who will own us when it happens.....china! we need to start learning mandarin now so when they move in we can at least be oppressed in a language we can understand
  • kaZappoo 2012/07/11 00:36:15 (edited)
    Yes, the world economy is on the verge of collapse.
    kaZappoo
    +1
    well the optimistic part of me says all will work out ...

    the reality part of me , this is not gonna turn out well ,,,and this has been predicted , and well GOD HELP US ALL !

    people cutting back as far as they can , and in survival mode ,on the verge of snapping ,

    it certainly shows here as well , but they seem to look for the govt .to fix all their ails "not gonna happen " cause the govt here has NO IDEA what to do !
    if they did they'd have done it !

    the economy is facing a stagnation effect , the trade markets need to move " sell products " but when folks have no disposable $$$ they cant move it , can buy products so china loan the USA $$ to buy thier stuff , then germany lends europe money to do the same thing ,but few low paying jobs there ..economy stagnates ..now grece no $$ ,, europe no,,, $$ gremany low on $$$, but keeps printing $$$ and loaning it ...saturation point now !

    look at gerald celente "trends research inst , or joel Rosenberg . both predictors ...

    the big $$$ eiteists do !

    more wish sandwiches for all , soon cash as we know it ,is no better than firewood !

    3/4 of the funds on the world are nunbers on the internet ( computer screen ) remember that !
  • Wizard kaZappoo 2012/07/11 06:39:17
    Wizard
    WE need to sell Pacific lands to China and Japan, to help settle the deficit.
  • kaZappoo Wizard 2012/07/12 02:45:31
    kaZappoo
    what (lands )are refering to ?
  • Super ludum 2012/07/11 00:15:47
  • kaZappoo Super l... 2012/07/11 00:44:26
    kaZappoo
    +1
    this has been prediced by the schollars & prophets ..!
  • Super l... kaZappoo 2012/07/14 10:53:36
  • kaZappoo Super l... 2012/07/15 02:40:30
    kaZappoo
    +1
    I agree ,,, i believe all good things will come to the richeous ,,

    I've see the other side ( briefly but it's beautiful ) then revived !

    I welcome passing !

    the richeous will prevail from the evil , and some say the anti christ is here now ..
  • Super l... kaZappoo 2012/07/18 05:59:27
  • kaZappoo Super l... 2012/07/19 04:46:14
    kaZappoo
    +2
    AMEN ,,,,,,,,SO ELIQUENTLY PUT !
  • Super l... kaZappoo 2012/07/20 01:34:40
  • Bibliop... Super l... 2012/07/11 01:11:21
    Bibliophilic
    Can I pull out Lord of the Rings instead?
  • Boetica Bibliop... 2012/07/11 05:24:30
    Boetica
    The author was a Christian.
  • Super l... Bibliop... 2012/07/18 06:02:01

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