[roccman]

$this->bbcode_second_pass_quote('Bas', ' ')but I wouldn't dare to say how exactly likely that "in the middle" -scenario would be. Sorry, but in good faith I can't be more specific than that...

[mattduke]

I don't think it is time yet. I think they will succeed in postponing the inevitable with this new stimulus. The medicine will be powerful, but the response weak and short-lived, and commodities will fly. Bernanke is still a deer in the headlights, but I think he'll panic shortly.

[evilgenius]

The Great American Selloff has to happen before they can even try for a one world thing, if that is their goal. Their empire doesn't really need thorough control, it only needs to be the chief influence. They definitely have something going with the Chinese, via Goldman Sachs and co. They do not have the same thing going with the Russians or those in the ME that the Russians are courting. Many countries in the EU are only somewhat on board as well for entirely different reasons. I smell war, big war, not small war.

[I_Like_Plants]

Remember the Great Depression of the 1930s in the US and the Argentine collapse were both marked by a drastic decrease in buying, or "consumption" to be politically correct, on the part of most of the populace.

[AWPrime]

I think that any reduction of demand will only keep the prices relatively stable.

[mattduke]

$this->bbcode_second_pass_quote('mattduke', 'B')ernanke is still a deer in the headlights, but I think he'll panic shortly.

[kadoomsoon]

Ha ha. Everyone in the world knows the secret plans. I just wonder when they will shut down this internet thingy-ma-bob.

[Nicholai]

And in Canada....

[jboogy]

it's all looking pretty bad Rocc, you were right

[Cashmere]

[url=http://finance.yahoo.com/tech-ticker/article/91506/No-Quick-Fix-Roubini-Forecasts-Worsening-Economy-2-Year-Recession?tickers=^gspc,^dji,^ixic]Roubini[/url]

[pedalling_faster]

i appreciate the link, Roubini is usually good for some honesty.

but ... "But the recession -- which he says began in Q1 of this year -- is deepening and will last into early 2010."

what a bunch of BS. why does he think "early 2010" is the magic time for the end of the recession ? i'd appreciate a "well, we really don't know when the recession will end."

though it's a short interview, he may have some historical data, or he may be tying it (the timing) to the end of mortgage resets.

[yesplease]

He's been pretty accurate so far. Granted, it was only over a time frame of about two thirds of a year, so I think that it could last a year or so longer than his initial estimate, but only time will tell.

[GreyGhost]

Roubini is very smart and saw this crisis coming better than anyone - but even he makes the mistake of thinking this is a cyclical economic problem. Like most economists he doesn't see that the real root cause is not economy but geology. The bubble was burst by the oil spike, and energy is now in permanent decline. If there is going to be a "bottom" of the market, as traders are so eager to pick, then it will only be after the overshoot is resolved. That requires population to be back to pre-fossil-fuel levels, that is around 1 billion.

[Revi]

It took 2 years for the market to hit bottom after the 1929 crash. It wasn't until 1932 when it made it to the bottom. It finished at 10% of the peak value. That means that nobody had confidence to buy again until it hit bottom 2 years after the crash. Imagine that. It's going to be a rough couple of years until we hit some kind of bottom. Most people will be wrecked by it.

[EndOfGrowth]

$this->bbcode_second_pass_quote('GreyGhost', ' ')That requires population to be back to pre-fossil-fuel levels, that is around 1 billion.

[billg]

Notice he says "in coming days", not in the coming weeks or months.

$this->bbcode_second_pass_quote('', '[')b]Roubini Says 'Panic' May Force Market Shutdown, Fund Failures By Alexis Xydias and Camilla Hall
Oct. 23 (Bloomberg) -- Hundreds of hedge funds will fail and policy makers may need to shut financial markets for a week or more as the crisis forces investors to dump assets, New York University Professor Nouriel Roubini said.

''We've reached a situation of sheer panic,'' Roubini, who predicted the financial crisis in 2006, said at a conference in London today. ''There will be massive dumping of assets,'' and ''hundreds of hedge funds are going to go bust,'' he said.

Policy makers delivered global coordinated rate cuts and bailed out banks this month to try and stem the crisis, stopping short of trading suspensions in the Group of Seven industrialized nations. Emmanuel Roman, the co-chief executive officer at GLG Partners Inc., predicted at the same event today that as many as 30 percent of hedge funds will close.

''Systemic risk has become bigger and bigger,'' Roubini said at the Hedge 2008 conference. ''We're seeing the beginning of a run on a big chunk of the hedge funds,'' and ''don't be surprised if policy makers need to close down markets for a week or two in coming days,'' he said.

Italian Prime Minister Silvio Berlusconi roiled international markets on Oct. 10, first saying world leaders were discussing shutting down global financial exchanges, and then saying he didn't mean it.

'Darwinian' Crisis: ''In a fairly Darwinian manner, many hedge funds will simply disappear,'' Roman said. The hedge fund industry is stumbling through its worst year in two decades and posted its biggest monthly drop for a decade in September.

Hedge funds are mostly private pools of capital whose managers participate substantially in the profits from their speculation on whether the price of assets will rise or fall. ''Things are getting very ugly also in the emerging markets,'' Roubini said. ''We used to say when the U.S. catches a cold, the rest of the world sneezes. Well, the U.S. now has chronic and persistent pneumonia. It's becoming a mess in emerging markets.''

Developing nations' borrowing costs jumped to the highest in six years today as Belarus joined Hungary, Ukraine and Pakistan in seeking a bailout from the International Monetary Fund to help weather frozen money markets and a slump in commodities. Argentina risks defaulting for the second time this decade.

''There are about a dozen emerging markets that are now in severe financial trouble,'' Roubini said. ''Even a small country can have a systemic effect on the global economy,'' he added. ''There is not going to be enough IMF money to support them.''

Roubini, a former senior advisor to the U.S. Treasury Department, earlier this month said that the world's biggest economy will suffer its worst recession in 40 years. ''This is the worst financial crisis in the U.S., Europe and now emerging markets that we've seen in a long time,'' Roubini said. ''Things will get much worse before they get better. I fear the worst is ahead of us.''

[americandream]

Got the link mate?

[ColossalContrarian]

It was on Bloomberg all day and now I can't find it. I was however able to find this link

[americandream]

$this->bbcode_second_pass_quote('ColossalContrarian', 'I')t was on Bloomberg all day and now I can't find it. I was however able to find this link

[drgoodword]

$this->bbcode_second_pass_quote('americandream', 'G')ot the link mate?