By Forrest Jones
The world's developed economies are in worse shape than they were in 2008 due to shaky financial sectors and calls for economic austerity rather than stimulus, says New York University Professor Nouriel Roubini.
The U.S. economy, meanwhile, stands a 60 percent chance of falling back into recession, says Roubini, who accurately called the Great Recession way before it happened.
"We are in a worse situation than we were in 2008. This time around we have fiscal austerity and banks that are being cautious," Roubini says, according to CNBC.
Nouriel Roubini
(Getty Images photo)
Forward-looking economic indicators show business and consumer confidence is down across developed world and show tough times await.
"The hard economic data (which has come out recently) is all relevant to July while the soft data which has come out is for the future and that’s all moving in the wrong direction," Roubini says.
Europe, at least, may avoid a new recession, the Standard & Poor's ratings agency says
"Although most of Europe experienced a slowdown in GDP growth in the second quarter, we still anticipate that the region will escape a genuine double-dip recession," S&P says in a research note, according to the AFP newswire.
Some experts say the U.S. never really emerged from the recent recession and point out faulty economic indicators allow politicians to claim recovery that never occurred.
"It has been our contention for some time that we never really emerged from the recession of 2008," Bert Dohmen, founder of Dohmen Capital Research Institute, an economic and investment research firm, told Moneynews.
"If you correct the GDP numbers with the right number for inflation, we are right now in a serious contraction of the economy again."
Source
(Getty Images photo)
Forward-looking economic indicators show business and consumer confidence is down across developed world and show tough times await.
"The hard economic data (which has come out recently) is all relevant to July while the soft data which has come out is for the future and that’s all moving in the wrong direction," Roubini says.
Europe, at least, may avoid a new recession, the Standard & Poor's ratings agency says
"Although most of Europe experienced a slowdown in GDP growth in the second quarter, we still anticipate that the region will escape a genuine double-dip recession," S&P says in a research note, according to the AFP newswire.
Some experts say the U.S. never really emerged from the recent recession and point out faulty economic indicators allow politicians to claim recovery that never occurred.
"It has been our contention for some time that we never really emerged from the recession of 2008," Bert Dohmen, founder of Dohmen Capital Research Institute, an economic and investment research firm, told Moneynews.
"If you correct the GDP numbers with the right number for inflation, we are right now in a serious contraction of the economy again."
Source
Buckle your seat belts because it is going to get worse before it ever gets better. The events that are happening now is too enormous for the government to solve. It does not matter who is in the White House, the economy will continue to get worse as well as the extreme weather(tornado, hurricane, earthquake, volcano) which will continue to cause billions of dollars in damages
ReplyDeletearound the world. President Obama will continue to be Bush 2.0 and the tea party (an extension of the New Christian Right)will continue to say that the separation of church and state is a myth.
Governments around the world will continue to be even more disfunctional, economies will continue to fall apart, wars and extreme weather events will escalate until things get so bad that the people will look for someone to save them. Then it will become easier for the leaders and Rome to call for a Sunday law. Finally when the Holy Spirit has completely withdrawn his power from this earth, then all hell will break loose and the Devil will be able to make his appearance and proclaim himself to be the savior of the world.
Unfortunately, because inquity abounds, the love of many has waxed cold and too many people scoff at the signs of Jesus second coming instead of turning to God and surrendering their lives to him. However those who have studied prophecy should not be surprised by all that is happening now and what is to come. May the good Lord have mercy upon our souls.
MISSY B:
ReplyDeleteThank God for His Holy Spirit and His Holy Scriptures; If it were not for them, we too would be lost without a clue.
The whole world is wrapped up in their everyday struggle, yet, few even notice the events that are occuring around them. As the Bible plainly states -those that are busy eating and drinking, marrying and giving themselves in marriage will not understand what is actually happening, and finally the Lord's Second Advent will take them by surprise like a thief in the night.
Keep the Faith! Blessings to you and yours.
Maranatha!
Arsenio.
That line about SEPARATION OF CHURCH AND STATE (as you correctly point out) will soon become widely accepted as false, and will be the next shoe to drop. On another note: Biden, Boehner, Patreaus (CIA), Panetta (DOD), Napolitano (FEMA) were all Jesuit trained .... 6 of the 9 Supreme Court Justices are Roman Catholics... What's left for them to take the country over? Maybe a Domininist or Reconstructionist Apostate Evan-jelly-belly-cal President? Stay tuned I feel such a trend is leading to a theocratic bring America back to God candidate may soon be elected President. Then it will be national ruin and Sunday Rest Laws for this country and eventually the rest of the world.
ReplyDeleteA.
Things are moving so fast and unfortunately too many people are asleep to the dangers that truly surround them. As you stated, Lucifer's plan is all coming together with the 6 of 9 catholic supreme court justices and the New Christian Right and the Dominist wanting and getting more of a foothold in politics.
ReplyDeleteOn another note, I just read that Iceland's Katla Volcano is now being more closely monitored because of increase in seismic activity. Rememeber last year when Katla's twin (Eyjafjallajokull) erupted, it was said that Katla would not be far behind in erupting as well. If Katla erupts the extreme weather could become even more intense. Here are the links to this story.
http://www.huffingtonpost.com/2011/09/06/iceland-katla-volcano-seismic-activity-_n_950434.html
http://news.yahoo.com/seismic-activity-increases-iceland-volcano-135844956.html
Thanks for the heads up, MISSY; I went ahead and posted the Huff Post article on EndrTimes.
ReplyDeleteKeep the Faith!
Keep us up to date on any relevant developmnent you might find interesting...
Arsenio