“We could end up … with a 36-month recession, that could be “L-shaped stagnation, or near depression,” said Prof Nouriel Roubini.
He says there’s a 66.7 per cent probability of a severe U-shaped recession and a 33.3 per cent chance of a severe L-shaped “near Depression”.
The US banking system, now insolvent, has been effectively nationalised, he pointed out.
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Bolehland’s economy crisis will last for how long? Maybe 2 years or may be more, I guess. Looks like the worst scenario has started to emerge in Bolehland in Mac 2009. Yes, the waves have started to reach our shores, finally (due to incompetent and mediocre executives). Any sign? May be. People have begun to feel the heat, many have to sell their unit trusts, blue chips, cars, houses. Fund managers will have to throw their blue chips to readjust their portfolios Hence a steady wave of selling of blue chips will pour in within the next 6-12 months. How… Read more »
the economic crisis coyld have and political consequenses in old europe the heritage of bush junior to his succesor is heavy and republicans accuse obama for incapability when their leader was president of usa we all know that republicans created the crisis with the iran embassy because they hated jimmy carter for his fights for human rights and the result from that massacre was ronald reagan an actor that didnt won oskar like al gore and we all remember the iranian money that were being used in the war contras santinistas it was not a coincidence republicans are ruthless we… Read more »
Anil – you have any suggestions other than talk and write?
I would believe that neither one economist nor country in the world right now can really have an immediate/effective remedy to counter this meltdown after the last one the world had in the thirties. Having enough coffers is keep one country afloat is crucial. Just have to wait and see how long can we/Malaysia withstand this round which is a way ‘blessing/teaching’ to those practicing cronysm. For lay men who keep their jobs and live in frugal lifestyle, I would say, they do not really feel it.
Well, Nouriel Roubini is one of those far-end pessimists. I think the downturn in the States over here will last for probably 1 to 2 years. Of course, Obama’s incompetence could destroy everything.
Talking about “L-shaped” and “U-shaped” is not the right way to talk about the economy, seems a lot of handwaving. I am not convinced by his arguments, he should justify his arguments with by arguing using economic fundamentals.
I don’t think there are many fundamentals left in the US! – Anil
Dear Anil, May I share this with you & your readers to back up your take & comment…. http://ampedstatus.com/economic-crisis-usa-riots Economic Crisis = USA Riots Posted on Tuesday, March 10th, 2009 at 10:37 am , Filed under Economy, News, Politics, Real News . Follow post comments through the RSS 2.0 feed. Click here to comment, or trackback. “The riot be the rhyme of the unheard!” Citizens of the US… Brace for IMPACT! As the global economy continues its downward spiral, rioting due to this Wall Street led meltdown is spreading through the globe like wildfire. The list of countries experiencing civil… Read more »
Dear Anil, Thank you for the update & I say Yes, the way our Leaders are handling this very “Complex Global Financial Meltdown”issue…. – We could join the many, many nations do go “Bankrupt” following Iceland… With the Global Financial Meltdown, NO Country or Government can understand & appreciate the “Actual Impact” to the “Nation” & its “People” until they get hit “Hard” like “Iceland.” – and Malaysia could JOIN the many, many more to come! – Malaysia badly needs “Role Model” established Leaders & Politicians of HONOUR with Calibre, Maturity & Tolerance without Fear or Favour & NOT Political… Read more »