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Roubini On 2013's "Global Perfect Storm" And Greedy Bankers "Hanging In The Streets"

Tyler Durden's picture





 

In an extended interview with Bloomberg TV, Nouriel Roubini lives up to his doom-saying reputation and goes where few have as he opines on Lieborgate that: "bankers are greedy and have been for 1000 years" and "nothing is going to change" unless there are criminal sanctions; to which he follows up - briefly silencing the interviewer, "If some people end up in jail, maybe that will teach a lesson to somebody - or somebody will hang in the streets". The professor goes on to note that the EU "summit was a failure" since markets were expecting much more and warns that without full debt mutualization, debt monetization by the ECB, or a quadrupling of the EFSF/ESM 'bazooka'; Italian and Spanish spreads will continue to blow out day after day - leading to a crisis "not in six months but in two weeks". The only entity capable of stopping this is the ECB which needs to do outright unsterilized monetization in unlimited amounts which is 'politically incorrect' to talk about and claimed to be constitutionally illegal. 2013 will be a very difficult year to find shelter as policy-makers ability to kick-the-can runs out of steam as he sees the possibility of a 'Global Perfect Storm' of a euro-zone collapse, a US double-dip, a China & EM hard-landing, and a war in the Middle East. Dr. Doom is back.

Must watch 9 minutes of reality:

On Lieborgate:

Nothing has changed since the financial crisis. The incentives of the banks is to cheat - doing things that are either illegal or immoral. The only way to avoid that is to break up these financial supermarkets. There are no chinese walls and massive conflicts of interest.

On Greed:

Bankers are greedy - they have been for 1000 years.

On Sanctions:

There should be criminal sanctions. Noone has gone to jail since the global financial crisis. The banks do things that are illegal and at best they get a slapped with a fine. If some people end up in jail, maybe that will teach a lesson to somebody - or somebody will hang in the streets.

On TBTF banks:

There are more conflicts of interest today than four years ago. The banks that were too big to fail and now they are even bigger. Things are worse - not better.

On The EU Summit:

The summit was a failure. The markets were expecting much more.

Either you have debt mutualization (to reduce the spread), or you have debt monetization by the ECB, or the bazooka of the EFSF/ESM has to be quadrupled - otherwise the spreads on Italy and Spain are going to blow up day after day. Otherwise you will have another bigger crisis not in six months from now but in the next two weeks.

On The ECB saving the world:

The only entity capable of stopping this is the ECB which needs to do outright unsterilized monetization in unlimited amounts which is 'politically incorrect' to talk about and claimed to be constutionally illegal.

On Debt mutualization:

It is not just Germany that is resistant but other core nations including The Netherlands, Austria, and Finland. Finland doesn't even want to accept the recent indirect mutualization of the summit liabilities (of the EFSF/ESM).

On kicking the can:

By 2013, the ability of policy makers to kick the can down the road is going to run out of steam, and in the euro zone the slow motion train wreck will become a fast motion train wreck. The US seems close to stall-speed and an economic recession. The landing of China is becoming harder and EM nations (and BRICs) are sharply slowing down. And finally the potential for war between Israel, the US, and Iran - which will double oil prices overnight.

On 2013 being worse than 2008:

Worse because like 2008 you will have an economic and financial crisis but unlike 2008, you are running out of policy bullets. In 2008, you could cut rates; do QE1, QE2; you could do fiscal stimulus; you could backstop/ringfence/guarantee banks and everybody else. Today, more QEs are becoming less and less effective because the problems are of solvency not liquidity. Fiscal deficits are already so large and you cannot bail out the banks because 1) there is a political opposition to it; and 2) governments are near-insolvent - they cannot bailout themselves let alone their banks. The problem is that we are running out of policy rabbits to pull out of the hat!

 


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Sun, 07/08/2012 - 18:38 | Link to Comment world_debt_slave
world_debt_slave's picture

Didn't Roubini say gold was a rubric relic and not money?

Sun, 07/08/2012 - 18:42 | Link to Comment Surly Bear
Surly Bear's picture

One does not need to be a Nobel Prize winning economist to know we have issues. I swear, my mother, aged 75 years, knows more about economics than most.

Sun, 07/08/2012 - 19:20 | Link to Comment Tippoo Sultan
Tippoo Sultan's picture

Where was this interview conducted ? The Temple of Amun-Re in Luxor ?

Sun, 07/08/2012 - 19:35 | Link to Comment veyron
veyron's picture

Thanks to inflated costs of college education, I'd guess NYU ...

Sun, 07/08/2012 - 20:01 | Link to Comment neptunium
neptunium's picture

The problem as far as I can see is that the intangibles (rehypothecation, derivatives, SPIVs) etcetera are obscuring what is clearly evident to everyone else, there existed, for a brief window after the Subprime situation the ability for central banks to see the core issues and address them, the can-kicking has enormously increased liabilites across the board, to use an analogy it is like dosing up on Ibuprofen to treat a malignant brain tumor, the core issues have yet to be addressed and the misdirected attempts thus far to "ease" the situation has merely increased the house of cards to the point that it is far more vulnerable to unexpected shocks, lack of prescience aside there are now at least 5-10 different scenarios that can cause major bank runs, currency crashes, hyperinflation and that's assuming that the data supplied by govt's and banks is not fudged, the true state of affairs in undoubtably far worse which is why I, for one, despite the pain it's going to cause, hope this chain reaction is unleashed sooner rather than later. 

The "swinging from lamp posts" comment is entirely valid given the effects this is going to have, for the first time in a generation it is no-longer paranoid to discuss contingencies at the personal level.

May you live in interesting times, as goes the proverb.

 

N

Sun, 07/08/2012 - 20:07 | Link to Comment SRSrocco
SRSrocco's picture
U.S Gold Net Exports Increased Substantially During First Quarter 2012


http://www.financialsense.com/contributors/steve-angelo/u-s-gold-net-exports-increased-substantially-during-first-quarter-2012

This can only add to the BANKERS MISERY

Mon, 07/09/2012 - 08:01 | Link to Comment tip e. canoe
tip e. canoe's picture

ah, who do you think is exporting the gold?

Sun, 07/08/2012 - 19:56 | Link to Comment economics9698
economics9698's picture

Those “policy bullets” made the collapse longer and worse.  If we had taken our medicine without the “policy bullets” it would be over and the economy would be growing 5% to 7% today.

Sun, 07/08/2012 - 23:37 | Link to Comment Bananamerican
Bananamerican's picture

Damn. we need more Policy Boolettes......12 gauge oughta do....

Mon, 07/09/2012 - 03:01 | Link to Comment Axenolith
Axenolith's picture

Dude, you have to lose the idea that 5-7% growth is "normal" or desired.  5-7% growth only comes from an issuance of the monetary standard in excess of the creation of wealth or by profligate lending (unsupported by backing capital) at unnatural rates not reflecting risk.

A normal (and "sustainable for all the eco-warriors out there) rate of growth is between .5 and approximately 2.5%.  That rate reflects the creation of real wealth over time, and mirrors the accumulation of the units of value most constantly held to reflect wealth (gold and silver) AND the stable growth of human population.

You can trace all of humanities woes to the mis allocation of capital ensuing from unnatural money emission, from Rome, Tulip mania, "Continentals", a myriad of inflations in the 20th century, etc...  You cannot cure todays woes by a simple reset, you MUST bind the hands of the state and/or its influencers in their powers of money management to get a stabil, long term solution.

Sun, 07/08/2012 - 21:16 | Link to Comment Oracle of Kypseli
Oracle of Kypseli's picture

@ Sultan

It looks like the hotel de ville in Aix-en-Provence, France Noth of Marseille. Most buildings are monumental looking there.

Sun, 07/08/2012 - 23:16 | Link to Comment XitSam
XitSam's picture

I couldn't get it out of my head that it was in front of the Cairo Museum.

Mon, 07/09/2012 - 03:18 | Link to Comment AnAnonymous
AnAnonymous's picture

Where was this interview conducted ? The Temple of Amun-Re in Luxor ?
_______________________

Ah, ah, good one. The decorum, the decorum. What US citizens lack in actual ideas, it is compensated by the decorum.

Mon, 07/09/2012 - 13:03 | Link to Comment akak
akak's picture

Ah, ah, bad one.

The misdirection, the misdirection!

What Chinese citizenism trolls lack in actual ideas, they compensate for it in offuscation, obscuration, the throating of bigotry, and monolization of the speeching means.

Mon, 07/09/2012 - 13:06 | Link to Comment AnAnonymous
AnAnonymous's picture

Yes, fully obvious.

The free press on a global scale is in the hand of Chinese. No one of them are US citizen chinese.

Truer than true.

Mon, 07/09/2012 - 13:15 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

AnAnonymous hypocritically said:

The free press on a global scale is in the hand of Chinese. No one of them are US citizen chinese.

Much funny for you do saying, with your employment as Chinese citizenism talking mouth.

Truer than true.

In your fantasy world, your wording of an idea makes it the trueness.

Mon, 07/09/2012 - 13:21 | Link to Comment AnAnonymous
AnAnonymous's picture

Ah, ah, US citizen economics at work.

So I am supposed to have created US citizenism and I am employed as Chinese citizenism talking mouth?

Very cogent.

US citizenism, the big destroyer of human thought process.

The seeds were planted on 1776,July, 4th and it took the required time to reach the current stage of devolution.

US citizens know no bottom, they can always dig deeper.

Mon, 07/09/2012 - 13:31 | Link to Comment akak
akak's picture

Chinese Citizenism citizens show their bottoms, they can always make their roadside shitpiles deeper.

Chinese Citizenism citizens' hypocrisy and brutality know no bottom, they can always make the stacks of the skulls of their Tibetan genocide victims deeper.

Mon, 07/09/2012 - 13:31 | Link to Comment AnAnonymous
AnAnonymous's picture

The stacks rise less high than US citizen stacks. They are involved in so many genocides, mass slaughters...

Mon, 07/09/2012 - 13:35 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

AnAnonymous, US citizenism patriot, said:

The stacks rise less high than US citizen stacks. They are involved in so many genocides, mass slaughters...

As the founder and leader of US citizenism, you certainly bear a degree of personal responsibility. Which you will, of course, deny, as is your eternal nature.

Mon, 07/09/2012 - 13:39 | Link to Comment AnAnonymous
AnAnonymous's picture

Ah, yes, now people killed by 'Americans' have to be a figment of my imagination.

US citizens can always dig deeper.

Mon, 07/09/2012 - 13:43 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

More denialism, more impossibility of self indiction, more eternal nature of AnAnonymousity.

But hey, it's self justifying, which is why you love it.

Mon, 07/09/2012 - 13:51 | Link to Comment akak
akak's picture

One has to love the side-splitting shitting-in-pantism that is the inevitable result of reading the hypocritical make-me-laughism of Chinese Citizenism, whose comedic nature is eternal.

Mon, 07/09/2012 - 13:59 | Link to Comment AnAnonymous
AnAnonymous's picture

The sheer love of humanity as expressed by US citizens.

People killed by 'Americans' do not exist.

Mon, 07/09/2012 - 14:27 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

The sheer love of humanity as expressed by US citizen AnAnonymous.

Tibetans killed by Chinese citizenism are not people.

Mon, 07/09/2012 - 14:40 | Link to Comment AnAnonymous
AnAnonymous's picture

Are they not supposed to exist only in my imagination? Or are they granted a special status?

Mon, 07/09/2012 - 14:44 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

In your imagination much is granted the firmly dangdang.

Mon, 07/09/2012 - 14:58 | Link to Comment akak
akak's picture

In your warped and bigoted mind, reality is truly granted a special status, one which appears to be both frequently (if not uniformly) denied and in constant flux based on your bigoted whims of the moment.

Mon, 07/09/2012 - 13:32 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

AnAnonymous, backpedaling furiously, said:

Ah, ah, US citizen economics at work.

So I am supposed to have created US citizenism and I am employed as Chinese citizenism talking mouth?

Of course. US citizenism is your fundamentally ill projection of Chinese citizenism onto a convenient exterior to avoid self indiction. They are equivalent; your denial proves the point.

Very cogent.

Ah, ah, very congruent.

US citizenism, the big destroyer of human thought process.

Indeed. Just look what it has done to yours.

Mon, 07/09/2012 - 13:37 | Link to Comment AnAnonymous
AnAnonymous's picture

Wooo, and the buyers are?

Because as Chinese citizenism is a fantasy invented by US citizens who can not cope with the reality of 'Americanism', who would be interested in buying that kind of fantasy proclaimed as the equivalent of a reality?

Save US citizens...

Therefore I am to be employed by US citizens. That would be some sort of conspiracy theory, as liked by US citizens.

Mon, 07/09/2012 - 13:47 | Link to Comment akak
akak's picture

The mathematical rigor of the logic (sic) of Chinese-EasterIsland-Greenlandic-Atlantean-US Citizenism is irrefutable and cannot be denied:

 

US Citizenism (sic) = Chinese Citizenism (projected to the exterior)

AnAnnoyingMouse = Chinese Citizenism

ergo, AnAnnoyingMouse = US Citizenism

US Citizenism = {null set}

AnAnnoyingMouse = {dull set}

Hypocrisy of Chinese Citizenism = 6.02 X 1023

Hypocrisy of AnAnnoyingMouse = infinity

 

Mon, 07/09/2012 - 14:17 | Link to Comment AnAnonymous
AnAnonymous's picture

Absolutely.

You know, it is useless to try to make US citizens kicking the can on US citizenism looking worse than it is.

Uh, no, after. US citizen's knack at worsening the worst situations is well known.

Mon, 07/09/2012 - 14:32 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

More AnAnonymous self indiction:

You know, it is useless to try to make US citizens kicking the can on US citizenism looking worse than it is.

...and yet, day after day, you do manage to make the US citizenism fantasy which afflicts you look worse.

Uh, no, after. US citizen's knack at worsening the worst situations is well known.

Well known to all except AnAnonymous, the primordial US citizenism citizen.

Mon, 07/09/2012 - 14:35 | Link to Comment AnAnonymous
AnAnonymous's picture

Again with self indiction?

What step to dance? Self indiction? No self indiction?

Ah, consistency and coherence...

Mon, 07/09/2012 - 14:46 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

.

Ah, consistency and coherence...

...the eternal lacking nature of AnAnonymousity.

Mon, 07/09/2012 - 14:35 | Link to Comment akak
akak's picture

Absolutely.

You know, it is useless to try to make Chinese citizens' refusal to shit in the can, instead of on side of road, looking worse than it is.

Uh, no, after. Chinese citizen's knack at loosening bowels in public the worst situation is well known.

Mon, 07/09/2012 - 14:39 | Link to Comment AnAnonymous
AnAnonymous's picture

But what is that? Chinese citizenism is supposed to be a fiction promulgated by the only one US citizen in the world, that is me.

US citizen eternal nature...

Mon, 07/09/2012 - 14:48 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

AnAnonymous said:

Chinese citizenism is supposed to be a fiction promulgated by the only one US citizen in the world, that is me.

US citizen eternal nature...

Ah, a glimmer of understanding.

It will soon fade.

Mon, 07/09/2012 - 14:51 | Link to Comment AnAnonymous
AnAnonymous's picture

A glimmer of understanding?

Stating that Chinese citizenism is a fantasy?

Never thought of fill an application for a official position in a US citizen government?

You might have to up your game but you shall stand your chances here.

Maybe you could teach US citizen Hillary Clinton a few tricks...

Mon, 07/09/2012 - 15:00 | Link to Comment akak
akak's picture

 

Ah, a glimmer of understanding.

It will soon fade.

Much like Szechuan firefly hotpot in broth of human fetus and bear penis --- oh! the goodness making lip-smacking dangdang!

Mon, 07/09/2012 - 13:54 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

AnAnonymous, running around like a rat lost in a maze, said:

Wooo, and the buyers are?

Like you do not know. Your confusionated braining cannot see your right hand and left hand buying and selling between them. The patheticity of your willing blindness is a result of your impossibility for self indiction. Continue to deny, even though you know, as it is your eternal nature.

Because as Chinese citizenism

...which you project externally and call US citizenism...

is a fantasy invented by US citizens

...or actually just one US citizen, that being AnAnonymous...

who can not cope with the reality of 'Americanism'

...who cannot cope with the reality of Chinese citizenism, which his diseased mind calls Americanism...

, who would be interested in buying that kind of fantasy proclaimed as the equivalent of a reality?

Yes, please tell us.

Save US citizens...

...and that would be you.

Therefore I am to be employed by US citizens. That would be some sort of conspiracy theory, as liked by US citizens.

The fantasy is your creation. Call it what you wish, your eternal nature still shines through your offuscation.

Mon, 07/09/2012 - 13:58 | Link to Comment AnAnonymous
AnAnonymous's picture

Another example of the destruction of thought process brought to you by US citizenism.

If Chinese citizenism is a fantasy invented by me, how can it be real?

And no, there is no connection between the current state of the world and the fact US citizens are ruling the world.

Gotta believe that.

Mon, 07/09/2012 - 14:11 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

AnAnonymous, running in circles of insanitation, said:

Another example of the destruction of thought process brought to you by US citizenism.

Yes, you always are the best example of your ruined mental capacitance.

If Chinese citizenism is a fantasy invented by me, how can it be real?

I explaining for you again now making. US citizenism, your fantasy, is your illness of mentally projection to exterior of your very real Chinese citizenism, the Chinese citizenism you cannot accept due to the impossibility of self indiction.

Try reading to understanding again later when after you come downing from very much high opium intoxicality.

And no, there is no connection between the current state of the world and the fact US citizens are ruling the world.

Gotta believe that.

Yes, of course you do; it is your fantasy, after all.

 

Mon, 07/09/2012 - 14:15 | Link to Comment AnAnonymous
AnAnonymous's picture

But you have nothing to explain. It is your own words
______________________________________________
Because as Chinese citizenism

...which you project externally and call US citizenism...

is a fantasy invented by US citizens

...or actually just one US citizen, that being AnAnonymous...
__________________________________________

You stated that Chinese citizenism is a fantasy invented by me.

Mon, 07/09/2012 - 14:38 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

AnAnonymous, still trying and failing:

You stated that Chinese citizenism is a fantasy invented by me.

Yes, very good. Your disagreement now shows that Chinese citizenism is quite the real phenomenum.

Mon, 07/09/2012 - 14:42 | Link to Comment AnAnonymous
AnAnonymous's picture

Impressive.

Is there a disagreement in:

you stated that Chinese Citizenism is a fantasy invented by me?

Mon, 07/09/2012 - 14:52 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

.

Is there a disagreement in:

you stated that Chinese Citizenism is a fantasy invented by me?

Oh, are you going against your eternal nature and agreeing with me? That would be quite the something.

Mon, 07/09/2012 - 14:16 | Link to Comment akak
akak's picture

 

If Chinese citizenism is a fantasy invented by me, how can it be real?

No, no, three times no!

It is US CITIZENISM which is your selfmade creation, not Chinese Citizenism! (which eveyone knows is alive and well and engaging in evil and greedy blobbing-upism throughout the world.)

It is YOU who are the founding father, the wellspring, the fountainhead, the seed, the very germ of US Citizenism!

US Citizenism = fantasy

Chinese Citizenism = reality

AnAnnoyingMouse = insanity

 

Mon, 07/09/2012 - 14:19 | Link to Comment AnAnonymous
AnAnonymous's picture

It is not what is written.

US citizenism at work.

Mon, 07/09/2012 - 14:26 | Link to Comment akak
akak's picture

It is not what is written, but it is most certainly something.

Something is the key, the crucial crusty bit, the offuscationalizingistic mettle of the thing.

Chinese Citizenism at work.

Mon, 07/09/2012 - 14:41 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

Indeedings this muchly of being it, which parangongically cannot be denialated.

Mon, 07/09/2012 - 15:05 | Link to Comment akak
akak's picture

Your wording of the mind and throating of ideas are indeed iron-cladded and firmly.

Sun, 07/08/2012 - 19:30 | Link to Comment Unprepared
Unprepared's picture

For better or worse, it's through his blog, fresh from university, that I was first exposed to the extent of economic hazards ahead and learning how dismal modern economics were. There were some bright minds on his blog.

Sun, 07/08/2012 - 22:30 | Link to Comment economics9698
economics9698's picture

I was really pissed at my university when I had no fucking clue what a monetary bubble was and why they occur. Its not some idle academic pursuit, it fucking cost me a lot of fucking money. I do not know how these assholes can teach their students complete bull shit propaganda and sleep at night. When I teach the subject I tell my students what is bullshit, Keynes, Freidman, and what is real.

Go to FRED, Federal Reserve, and read their shit and study the graphs on everything related to money.  You will get a feel for the monetary game and just how bad it is now.

Monetary bubbles take 3 to 5 years to develop, we are at year 3 and 8 months, fasten your seat belt. 

Sun, 07/08/2012 - 19:57 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

"I swear, my mother, aged 75 years, knows more about economics than most."

Sounds like your mother is cursed with a severe case of morals and ethics. Too bad she only has street smarts to carry her forward from here because the really smart ones have Wall Street to carry the day.

Maybe she should look into getting a PhD. It's never too late you know. Tell her to put the whole thing on her student loan tab while she's learning why Gold is nothing more than a barbarous relic. :>)

/sarc

Sun, 07/08/2012 - 18:46 | Link to Comment Martial
Martial's picture

Yea I think he and the Bernank are "buddies".

 

I agree with the last paragraph though.

 

Endgame approaches.

Sun, 07/08/2012 - 18:49 | Link to Comment world_debt_slave
world_debt_slave's picture

yeah, Roubini is right about the bankers , the corrupt system and no punishment. But he went off the rails about the CB's monetizing the debt.

Sun, 07/08/2012 - 18:57 | Link to Comment thad78
thad78's picture

Is there any other solution that can be implemented within 5 years other than global meltdown? I"d seriously like to hear it.I guess i'm a sheeple- I'd rather flow than blow (even if flowing with it makes me sick).

Sun, 07/08/2012 - 19:56 | Link to Comment Paul Atreides
Paul Atreides's picture

Criminal charges and arrests followed by the re-instatement of law in the financial sector is the first and most important step. The next step would be some sort of debt Jubilee and then a migration to the system I outline below:

Each sovereign nation needs to create and issue it's own debt free, central banking free, 0% interest money for federal, provincial/state and municipal spending purposes. This credit based money would then replace the compounded interest bearing debts of the money supplied by the worlds central banks over a 5 year timeframe. Seriously fuck the central banks we are the people and we want them eliminated. This sovereign nations money would be good for all trade and payable towards taxes. Fractional reserve banking as well as government debt through the issuance of bonds and usury would be reduced and made illegal during this 5 year period to put an end to slavery once and for all. All required loans, mortgages, and credit issuance would no longer be issued under the fractional reserve private banks but by the peoples bank under strict lender practices with non compounded one time interest rates set at a non profit level to cover the losses on bankruptcies, foreclosures or loan losses. Corporate bonds and non public bonds would be still legal under this system as corporations are not people. The peoples bank would be not for profit and would be the primary center for the issuance of credit by the people and for the people and any money it makes would be put towards the people of that nation. This peoples bank would not interfere with the market or the economy other then setting the prime interest rates, the issuance of credit and printing and storing of both digital and phsycial currencies. Ideally this system would be backed by gold and silver as well as both metals being legal tender for the settlement of trade.

This system has worked in the past (Abe Lincolns Greenbacks, and the Bank of Canada Government lending prior to 1974 to name a few) and will work again the only problem is we would have to remove the central banking cartel by force if necessary, they and the elite that run them will not want to relinqush control of the worlds financial system or go quietly into the night.

P.S. if you are going to junk me please tell me why or provide constructive feedback, this isn't just some random 'I can dream post'. I am working with a number of groups on fine tuning this solution.

Sun, 07/08/2012 - 20:17 | Link to Comment Bolweevil
Bolweevil's picture

Sure looks like an I can dream post. 

+1 for Patrick Swayze RIP avatar.

Sun, 07/08/2012 - 20:35 | Link to Comment world_debt_slave
world_debt_slave's picture

imho, I believe the guillotine would grab their attention with some banksters heads rolling.

Sun, 07/08/2012 - 21:07 | Link to Comment Ned Zeppelin
Ned Zeppelin's picture

I've reached similar conclusions. Who needs as an intermediary a central bank in the creation of new currency? Because they restrain themselves and prevent excess? 

Didn't think so either.  

Sun, 07/08/2012 - 21:31 | Link to Comment pvzh
pvzh's picture

Creating money through credit expansion is FRAUD. Who benefit from the fraud does not matter. There is no need to nationalize private fraud, just abolish it. That is all.

Gold is money. It should circulate as physical coins or claim cheques (paper or electronic). Issuing claim chueque for the coin that does not exist is FRAUD and should be punished accordingly: same as money counterfeiting now.

People may use whatever they wish as transaction medium gold, silver, sea shells, Goldman Sacks CDO, whatever... The only requirement should be NO FRAUD (one thing must not pose as another): if you accept promises of Goldman Sacks to pay you in gold, you do so at your own risk. NO LENDER OF LAST RESORT.

Re: DEBTS. Money should be paid as agreed in contract. The money created through fractional reserve lending must be repaid to be retired from circulation (as agreed: that is the only difference between fractional reserve lending and money counterfeiting -- lender promises to retire excess of money upon payment of debt; thus, failure to do so make un-retired amount undoubtly fraudulent, i.e. counterfeit). Failure to repay the debt by borrower and by the call on capital of a lender (after both methods has been employed) should be treated as an issue of counterfeited money. That amount should be split between borrower and lender, and both should do jail time accordingly (there are current statutes for counterfeiting). Since banks are corporations, their shareholders must be kept responsible in terms of capital and criminal responsibility (shareholders can shift some responsibility to employees where applicable).

Obviously, nothing like that is going to happend, but the closer we approach to that ideal the better we will be.

Sun, 07/08/2012 - 21:43 | Link to Comment FrankDrakman
FrankDrakman's picture

and the Bank of Canada Government lending prior to 1974

 

OK, I'm a Canadian, and I'll bite: exactly how did the BofC change in 1974? I was just a teenager at the time but I was fairly politically aware, and I don't recall any news about this. Put up (with reference links, please), or shut up.

Sun, 07/08/2012 - 23:29 | Link to Comment James
James's picture

Look into State Bank of N.D. for Nirvana in their approach.

They are actually the last remnant of what was once the norm.

 

 

Mon, 07/09/2012 - 00:22 | Link to Comment bankruptcylawyer
bankruptcylawyer's picture

you want constructive feedback.....

i'll give you some. the 'people's' bank this and that. look at the comunist party of china. they have a people's bank. 

you and all the other occupy wall street morons who think you know everything are ignorant of history and basic human incentives. 

your 'dream' is that all the 'people' are good and will work in the way you want them to. that centralized decision making 'can be perfect'. 

you start off on the right foot by thinking you must destroy the old-life draining system that is the fed. where you go wrong is in thinking that delivering the centralized money creation process to a central commizdat will result in substantial better decision making. 

THERE IS A GOOD REASON PRIVATE BANKING HAS SURVIVED IN SOCIETY. it is not because of cabals and conspiracy theories. it is because capital has a need to move freely in society. Crony capitalism and Communist Capitalism are both forms of highly centralized restrictive capital controls both described by a specific set of social connections that define who is IN the club and who isn't. 

you want a dream----dream of  a world with mom and pop bankers who have under 20 million in deposits and where the money supply is backed by something other than the promise to print more money-----and yes, you can implement this sort of 'system' along side a jubilee, and along side a genuine regulatory system that prevents the implementation of national private credit systems hijacking the treasury and the private credit systems once more. 

 

sorry for the ad-hominem attack on you as an 'occupier', but i've talked to you guys SO many days in liberty park, i've lived with a number of you guys. and the truth is , you're mostly a bunch of communist idiots who only have some semblance of what is going on and what appropriate solutions might be. there are so many 20 something year old people who speak of the people's this and that, and its tiring , because occupy has been fully co-opted at this point, and resembles little more than a failed solidarity movement. rest assured, the only thing driving occupy forward is increasing rates of poverty in the u.s. 

there will be no communist revolution. 

 

 

 

Sun, 07/08/2012 - 22:42 | Link to Comment Seer
Seer's picture

There are NO "solutions!"  Not for systems that are growth oriented only.  This is a finite planet.  This "meltdown" is ALL about a shortage of resources for continued application of the status quo.  I believe that everything has been an attempt to hide this very REAL fact, for as it comes to light there will be NOTHING to stop the collapse of what has been a practice of MASSIVE unsustainability.  Drawing from the future, whether it is or isn't a "good" application of "capital" is unsustainable.  Therefore, no, there will be no "flow."

Your options are:

A) Find a tall building and jump;

B) Discover how the overwhelming majority of humans have lived- close to sustainability (some would call this "poverty").

We stand today at a crossroads: One path leads to despair and utter hopelessness. The other leads to total extinction. Let us hope we have the wisdom to make the right choice. - Woody Allen

I highly recommend getting a jump on option "B."  I'm already digging in the dirt... (well, trying to reclaim land for raising livestock [the "Food" component of "Food, Shelter, and Water")

Mon, 07/09/2012 - 03:20 | Link to Comment AnAnonymous
AnAnonymous's picture

US citizens know of that.

And their option is: who else to push under the train so they can buy themselves one more day.

Mon, 07/09/2012 - 12:58 | Link to Comment akak
akak's picture

Or perhaps they merely need to abort more female children, Chinese Citizenism style?

Have you had your human fetus soup today?  Umm umm good!

 

Mon, 07/09/2012 - 13:02 | Link to Comment AnAnonymous
AnAnonymous's picture

Abortion? But US citizens are doing fine on the abortion side.

Ah, yes, I forgot, abortion vast programs hit negroes in the US so who cares?

They should not be accounted for.

So yeah, no abortion programs in US citizen nations, especially in the US.

No abortion of human beings at least. And this is what matters for US citizen eugenics programs.

Mon, 07/09/2012 - 13:23 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

AnAnonymous revealed himself when he said:

Ah, yes, I forgot, abortion vast programs hit negroes in the US so who cares?

Your racism is so contemptibly pathetic that it's almost amusing.

Mon, 07/09/2012 - 13:27 | Link to Comment AnAnonymous
AnAnonymous's picture

Yeah, yeah, I know, I know, just like Abraham Lincoln, the Abraham Lincoln brigade, 'Americans', 'Americans' are a product of my imagination, negroes aborted in the US is also a figment of my imagination.

It cant be real and it has to show my racism in a funny way.

More illustration on the incapacityof US citizens to cope with reality without mediation of fantasy.

Mon, 07/09/2012 - 13:38 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

More illustration on the incapacity of US citizen AnAnonymous to cope with reality without mediation of fantasy.

Mon, 07/09/2012 - 13:41 | Link to Comment AnAnonymous
AnAnonymous's picture

Sure. I am the one claiming that Abraham Lincoln, the Abraham Lincoln brigade, 'Americans', 'Americanism' do not exist.

I am the one unable to cope with obvious facts.

Sure, sure...

Mon, 07/09/2012 - 13:57 | Link to Comment akak
akak's picture

 

I am the one unable to cope with obvious facts.

Good, good!  Much double lucky golden panda good!

Your rare and unequivocal admission of truth here may just possibly mean that there is some infinitesimally small hope for you yet.

Mon, 07/09/2012 - 14:13 | Link to Comment AnAnonymous
AnAnonymous's picture

Quoting out of context is cheap.

Ummm, wait, maybe not that cheap by US citizen standards.

This has to be understood: reality is quite harsh on US citizens and they have to use cheap shots.

The law of necessity...

Mon, 07/09/2012 - 14:32 | Link to Comment akak
akak's picture

 

Quoting out of context is cheap.

Shitting on side of Chinese road like pre-roasted dog is much cheaper (and much stinkier).

Mon, 07/09/2012 - 14:37 | Link to Comment AnAnonymous
AnAnonymous's picture

Ah, yes, it might mean that in some other places, they charge you for shitting on the road...

US citizen places?

Mon, 07/09/2012 - 14:46 | Link to Comment akak
akak's picture

Only in Chinese Citizenismland, where stinking piles of roadside human turds are eternal.

Mon, 07/09/2012 - 14:57 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

...and the public parks.

Don't forget the Chinese citizenism rule number two regarding the making number two:

http://www.shanghaidiaries.com/archives/IMG_9634.jpg

Mon, 07/09/2012 - 13:19 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

akak said:

Or perhaps they merely need to abort more female children, Chinese Citizenism style?

Have you had your human fetus soup today?  Umm umm good!

Chinese citizenism lunch delicacy of pickled female fetus feet are to die for.

So tiny, so tasty, especially with plum sauce.

Mon, 07/09/2012 - 13:22 | Link to Comment AnAnonymous
AnAnonymous's picture

Wait for US citizen to mass produce that delicacy, they are going to feed the world, US citizen style.

Mon, 07/09/2012 - 13:27 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

AnAnonymous, with more rodent-like scurrying, said:

Wait for US citizen to mass produce that delicacy, they are going to feed the world, US citizen style.

Made me laugh. You will produce it for your US citizenism Abraham Lincoln brigade as you lead it hurriedly away from battle.

Afterwards, you will sell it to Chinese citizenism restaurants, calling it General Toe's Chicken.

Mon, 07/09/2012 - 13:33 | Link to Comment AnAnonymous
AnAnonymous's picture

Hurrying away from battle? Where does it come from?

Another fantasy development to come up.

Sun, 07/08/2012 - 19:16 | Link to Comment Rasna
Rasna's picture

If some people end up in jail, maybe that will teach a lesson to somebody - or somebody will hang in the streets

We don't get out of this shit hole of a banking/financial system until a lot of people go to jail and trust is restored.  The retail investors know that the system is corrupt to it's core and rigged.  The commercials have figured out how to game the system with their algos.  I'm not sure what the pension funds and insurance companies are doing, but with their fiduciary responsibilities, I don't know why they aren't leanning harder on O, Holder/Justice and Congress to get this mess cleaned up ... The problem is that the congress, presidency and courts are owned by the banks and their sociopathic minions.

This all came to a head in 08 with Paulson running around Congress telling them that Marshal Law was days away if they didn't approve the one page, $700B TARP plan that he pulled out of his A$$ in less than the time it took him to scribble it out in crayon - "Giv us mor mony or th world wil end tomoro".

Sun, 07/08/2012 - 20:43 | Link to Comment analyzer_66
analyzer_66's picture

Holder ? Congress & Justice ?  Seriously ??

Holder is a criminal, he lied about the guns going to Mexico.  Justice & Congress, forget them too, dont forget congress is making money on passing laws that affect stocks in a way that is favorable to their portfolios.  Imagine standing below a dam that is about to burst and you are being handed a toolbox with a screwdriver and a roll of duct tape to repair the whole dam.  That's where we are at with the financial system and the rule of law used to police it. Let it burn along with all the lawyers, brokers, bankers and insurance people that support the present system.

Sun, 07/08/2012 - 21:02 | Link to Comment Debt-Is-Not-Money
Debt-Is-Not-Money's picture

I wanted to up-arrow you but when a post leads off in italics the arrows are disabled.

Perhaps an edit will work?

Sun, 07/08/2012 - 21:37 | Link to Comment pvzh
pvzh's picture

Comments cannot be edited after at least one reply has been added.

Sun, 07/08/2012 - 23:12 | Link to Comment Seer
Seer's picture

"We don't get out of this shit hole of a banking/financial system until a lot of people go to jail and trust is restored."

They're nothing but a symptom of the disease!  You could blast them all out in to space and we'd still be sitting here on this finite planet with an ENTIRE system based on perpetual growth.

It was all an orgy before the predestined collapse.  Yeah, perhaps these hyenas sped it all up, but the gas pedal was always there (and there was never any brakes).  The "shit hole" is all we know... (and, for what it's worth- welcome to what the majority of humans have been suffering at the hands of this grow-or-die system)

Sun, 07/08/2012 - 19:26 | Link to Comment Stuart
Stuart's picture

exactly!   What does he think will happen to gold if the central banks fully commit the amount he cites in an unsterilized debt monetization program.   Thing is, directionally I think his general thrust is fairly accurate. 

Sun, 07/08/2012 - 19:29 | Link to Comment DavosSherman
DavosSherman's picture

He also has sculptured twats on his walls.

Sun, 07/08/2012 - 21:04 | Link to Comment Debt-Is-Not-Money
Debt-Is-Not-Money's picture

Traveling Wave Amplifier Tubes?

/sarc

Sun, 07/08/2012 - 23:30 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

Buttward Wave Oscillators

Sun, 07/08/2012 - 20:28 | Link to Comment AmCockerSpaniel
AmCockerSpaniel's picture

The fact is; I don't know what to do, or when to do it. So holding gold here helps me sleep better. The next best thing to not knowing as much as the rest, is to know you do not know.

Mon, 07/09/2012 - 02:14 | Link to Comment OmNamah
OmNamah's picture

Does this guy introspects on the calls he has given on markets...or for that matter any1 out of the popular media....this guy is absolutely worthless....Zerohedge atleast  is consistently wrong on some assets thus making it easy to trade...this guy is plain confusing...

 

www.bubbleshort.blogspot.in

Sun, 07/08/2012 - 18:40 | Link to Comment TrainWreck1
TrainWreck1's picture

Lengthy trials and profitable appeals are impossible if people are strung up.

The legal system(s) must remain insulated from unemployment.

 

Sun, 07/08/2012 - 19:35 | Link to Comment Dermasolarapate...
Dermasolarapaterraphatrima's picture

I hope for my brother's sake the trials are long and expensive...my Bruder is a starving criminal lawyer. He went into crim law thinking there would be lots of prosecutions in these years.....Poor soul is still an idealist.

Sun, 07/08/2012 - 18:43 | Link to Comment Whiner
Whiner's picture

QE to da' moon. Then ropes and pitchforks with hound dogs and lighted torches.

Sun, 07/08/2012 - 18:49 | Link to Comment dick cheneys ghost
dick cheneys ghost's picture

2013?.........I was told 2012............Im tired of waiting.........burn the mother down.........lets start over, you know, for the kids.......

Sun, 07/08/2012 - 18:56 | Link to Comment Peter Pan
Peter Pan's picture

You are right Dick Cheneys Ghost. The most nauseating aspect of this whole crisis is how we are trying to avoid judgment day by kicking ithe can down the road in the hope that our kids will bend over to pick it up.

This is a violation of parenthood and we deserve to be liquidated upon reaching 65 as we deserve nothing for the untold damage our generation has caused as a result of unsustainable borrowing, unsustainable consumption and unsustainable expectations.

Sun, 07/08/2012 - 19:29 | Link to Comment algol_dog
algol_dog's picture

I don't have kids, so is it ok if I want the can to be continually kicked down the road?

Personally, I think we need to wait for the greatest generation to be reincarnated again to fix this mess. Now those bad-asses knew how to fix things.

Sun, 07/08/2012 - 23:18 | Link to Comment Seer
Seer's picture

Those "bad-asses" helped TPTB cement the System!  They helped create the State (which harbors financial, as well as other, terrorists).

Sun, 07/08/2012 - 21:47 | Link to Comment unique_snowflake
unique_snowflake's picture

Peter Pan isn't in his sixties.  Just a guess.

Sun, 07/08/2012 - 18:49 | Link to Comment Peter Pan
Peter Pan's picture

Unsterilised monetisation by the ECB?

So we are going to fix rubbish with more rubbish?

This is the man who prefers spam over gold and is too embarrassed to admit that gold is a major weapon in the arsenal.

Or is gold not an option because US repositories have nothing to hand back?

Sun, 07/08/2012 - 23:21 | Link to Comment Seer
Seer's picture

He's an "economist!"  Fuck, people, the JOB of "economists" is to protect the System, to lie for it!

Until Roubini can demonstrate how we can achieve perpetual growth (he is ALWAYS talking about the need to return to growth, yet never says what that really means, let alone HOW) he's a stooge for TPTB.

Sun, 07/08/2012 - 18:51 | Link to Comment Dr. Engali
Dr. Engali's picture

"Today, more QEs are becoming less and less effective because the problems are of solvency not liquidity."

No F&*#ing s@*t, most of us have been saying that for four f#*%ing years.

Sun, 07/08/2012 - 19:30 | Link to Comment DeadFred
DeadFred's picture

I always enjoy reading his comments but be aware he is one of the better contraindicators out there. He's not up to Stolper's level but the MSM gives him and El Erian face time to gloom at the audience whenever the manipulators need the sheep to sell as they pull out a magic ramp job. I have no idea what they can possibly do to make this positive but history says that when Roubini glooms the S&P goes up.

Sun, 07/08/2012 - 23:31 | Link to Comment Bananamerican
Bananamerican's picture

c'mon Fred, we're talking about Roubini here, not Snookie....

how many hits on that video?

Sun, 07/08/2012 - 18:51 | Link to Comment The Watchman
The Watchman's picture

Bankers are greedy?????? Wow that is some deeeeep insight.

Sun, 07/08/2012 - 23:32 | Link to Comment Bananamerican
Bananamerican's picture

He didn't say it like some revelation.

He said it matter of factly with a giant side order of ennui....

Sun, 07/08/2012 - 18:51 | Link to Comment fonzannoon
fonzannoon's picture

Later this year every dangerous aspect of the "fiscal cliff" will be repealed or pushed off again into the future. We will celebrate how politicians were able to put aside their differences and come together to ensure that these dangers do not actually impact us. The credit rating agencies will say something about how "eventually the debt will have to be addressed but we applaud these measures towards economic growth and prosperity". The price of gold will once again be a "risk on" asset and not a "canary in a coal mine" but why buy gold when you can buy mega cap companies with dividend paying ability. This will go on longer than anyone around here believes possible.

Sun, 07/08/2012 - 18:58 | Link to Comment Dr. Engali
Dr. Engali's picture

I don't think so,not this time. I think everything is coming to a head and it will be surprising if we make it to 2013.

Sun, 07/08/2012 - 19:02 | Link to Comment fonzannoon
fonzannoon's picture

They have exposed the (LIBOR) manipulation of interest rates worldwide. If you told me that 4 years ago I would have told you it would lead to interest rates exploding all over the world. Today no one understands or even really cares. If the S&P gets nailed like BK thinks it might the 10yr will go to 1.25%. This stuff is happening in plain sight nowadays and it still goes on and on. You may be right but I think the "fiscal cliff" phrase was planted by CNBS to be blasted over and over and over so that when it is "avoided" markets will celebrate worldwide.

Sun, 07/08/2012 - 19:11 | Link to Comment Dr. Engali
Dr. Engali's picture

I agree that the fraud is all out in the open but my opinion is that TPTB are allowing it all to be exposed to set up the next stage of the new world order The "fiscal cliff" is just another scare tactic.

Sun, 07/08/2012 - 19:38 | Link to Comment DanDaley
DanDaley's picture

Another step toward martial law à la Obama's latest Executive Order giving him control over all communications in time of "emergency".  They are putting the final touches on the cake.

http://www.whitehouse.gov/the-press-office/2012/07/06/executive-order-as...

Sun, 07/08/2012 - 20:02 | Link to Comment Questan1913
Questan1913's picture

"Another step toward martial law à la Obama's latest Executive Order giving him control over all communications in time of "emergency". They are putting the final touches on the cake."

Really well done!  I take it you have been tasked with sowing fear?

Sun, 07/08/2012 - 23:37 | Link to Comment DanDaley
DanDaley's picture

What's your interpretation?  Obama would never do that?  

Sun, 07/08/2012 - 18:51 | Link to Comment michaelsmith_9
michaelsmith_9's picture

According to fx, the AUDUSD suggests higher levels are ahead for the short-term and longer-term.  There could be a bearish interpretation, however, it has a much lower probability.  Therefore, with the AUDUSD looking higher, the S&Ps should push higher as well.  Here is a look at the full analysis:  http://bit.ly/LHzQJX.  There is still very much a downturn coming for the markets, but it is likely not until at least 2013.

Sun, 07/08/2012 - 19:02 | Link to Comment Seasmoke
Seasmoke's picture

after reading this , i feel like giving you an up AND a down arrow

Sun, 07/08/2012 - 20:41 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

yes, I see the correlation. 2 charts: (1) http://scharts.co/MTOH7R and (2) http://scharts.co/MTOTnJ

and here's brent and WTI oil together with the DOW 2012 05 03 oil vs dow | goldpricemodel

Certainly DOW and S&P move together.

In http://scharts.co/NgRLWm you can see the EUR/USD pairing actually moving with silver but it's a lot more clear in the shorter-term seeing this chart http://stockcharts.com/h-sc/ui?s=$XEU&p=D&yr=1&mn=7&dy=0&id=p23735169023 or short URL version http://scharts.co/MTP6al

What's sad is that all of this is data, easily proven, yet 4 ignorant people red-arrowed your comment.

Sun, 07/08/2012 - 19:53 | Link to Comment Doode
Doode's picture

I just hope that this 2012 Mayan end of days now scheduled to 2012+1 will actually happen. So far the system has shown a remarkable ability to weather the storm. Greece was supposed to implode last year - at least 2 times, and it did not happen. So was the rest of the Europe as prescribed by Soros et al - I believe it was 2 weeks ago that the Europe was supposed to end. There is a proverb about false prophets in the Bible - perhaps everyone should just chill and heed that ancient wisdom. 

Mon, 07/09/2012 - 17:06 | Link to Comment e-recep
e-recep's picture

the bible is a fairy tale. jesus never lived and god does not exist.

Sun, 07/08/2012 - 18:56 | Link to Comment max2205
max2205's picture

I wish......

Sun, 07/08/2012 - 18:58 | Link to Comment Benjamin Glutton
Benjamin Glutton's picture

Roubinispierre!!!

 

well said brother.

Sun, 07/08/2012 - 19:00 | Link to Comment Seasmoke
Seasmoke's picture

i guess Roubini got tired of partying with the biatches

Sun, 07/08/2012 - 19:01 | Link to Comment GOLDTEETHSILVER...
GOLDTEETHSILVERFILLINGS's picture

Are you lost? Follow the yellow brick road...

Sun, 07/08/2012 - 19:01 | Link to Comment TahoeBilly2012
TahoeBilly2012's picture

What happens when Spanish/Italian bonds go to 10%? At what level does it become a self fulfilling collapse due to further capital flight? It seems like if the it repeats the Greek downfall then people now might act 2 to 3 times as quick getting out of Spanish bonds.

Sun, 07/08/2012 - 19:04 | Link to Comment fonzannoon
fonzannoon's picture

It seems like they can go to 10% tomorrow. But the morning of an auction a major rumor gets released and pushes yields down to 5.5% and they get the auction off. Rinse, repeat.

Sun, 07/08/2012 - 19:22 | Link to Comment bank guy in Brussels
bank guy in Brussels's picture

Some of us remember much higher bond rates, which somehow were manageable ...

1981 ... US 10-year Treasury note ... 15.84% yield ...

1981 ... US 30-year Treasury bond ... 15.25% yield ...

Now the US would explode at those rates.

So as Jim Sinclair says ... QE to infinity ... what is absolutely 'needed' by the bankers, will be provided.

Ben Bernanke can access black hedge funds in the Cayman Islands, give them electronically printed fiatscos, and the black hedge funds can buy bonds, in Europe or anywhere else. ... This can work longer than most people would imagine.

Sun, 07/08/2012 - 20:11 | Link to Comment algol_dog
algol_dog's picture

The plan will be in operation until the last bear is ceremonially slaughtered on Bernanke's holy altar, and zero hedge throws in the towel and shuts down ...

Sun, 07/08/2012 - 19:02 | Link to Comment EndTheMedia
Sun, 07/08/2012 - 19:06 | Link to Comment newworldorder
newworldorder's picture

Well - This will have serious implications for his invitation to attend DAVOS as well as the Consulting Contracts from his clients.

You know what they say .... A banker scorned - and all that.

Sun, 07/08/2012 - 19:08 | Link to Comment Zola
Zola's picture

I can see Roubini has been reading ZH...

Sun, 07/08/2012 - 19:09 | Link to Comment Snakeeyes
Snakeeyes's picture

Bankers are greedy and Socialists are not????????

But I agree that there is a perfect storm brewing (no velocity, downturn in most economic indicators, etc).

It has NOTHING to do with LIBOR. It has EVERYTHING to do with massive taxation and government policies and regulations gone wild!

If you want to drink the LIBOR Kool-Aid, knock yourself out.

http://confoundedinterest.wordpress.com/2012/07/06/libor-fixing-and-the-fed-funds-target/

But LIBOR fixing has NOTHING to do with US employment malaise and tanking indicators.

http://confoundedinterest.wordpress.com/2012/07/06/summertime-blues-u6-unemployment-rises-to-14-9-nonfarm-payrolls-grow-only-80k/

If you are awake at 7am EST, I will be on The Mike Church Show on Patriot Radio (Sirius) discussing employment, Rouweenie and LIBOR.

Sun, 07/08/2012 - 19:20 | Link to Comment A Lunatic
A Lunatic's picture

Then War it shall be........followed closely by starvation, disease, and a general refusal of Nature to continue to "just go along" with the machinations of evil men.

Sun, 07/08/2012 - 23:27 | Link to Comment Seer
Seer's picture

Yikes!  When I constantly find myself in agreement with "A Lunatic" I suppose I should pause and reflect...  Reflect.  Reflect.  OK, done!  Spot on!

Sun, 07/08/2012 - 19:31 | Link to Comment midgetrannyporn
midgetrannyporn's picture

He's nothing but a low-down, double-dealing, backstabbing, larcenous perverted worm! Hanging's too good for him. Burning's too good for him! He should be torn into little bitsy pieces and buried alive! [/hanover fiste] http://www.youtube.com/watch?v=tHgMsvpFm08&feature=related

Sun, 07/08/2012 - 19:21 | Link to Comment Forgiven
Forgiven's picture

Get a rope!  It's time to hang these f&ckers

 

Sun, 07/08/2012 - 19:21 | Link to Comment cherry picker
cherry picker's picture

The Mayans probably had a math genius working for them and calculating (((human nature/dna + dinero x quality of life) - satisfaction) x sexual freedom) x population explosion = 2012.

He or she was ahead of his or her time :)

Sun, 07/08/2012 - 23:29 | Link to Comment Seer
Seer's picture

A perfect example of why I come here! (some of the best humor around!)

Sun, 07/08/2012 - 19:26 | Link to Comment ebworthen
ebworthen's picture

"...unless there are criminal sanctions; to which he follows up - briefly silencing the interviewer, 'If some people end up in jail, maybe that will teach a lesson to somebody - or somebody will hang in the streets'"

Ahoy, Dr. Roubini; we have grog, hard tack, and rope.


Mon, 07/09/2012 - 02:19 | Link to Comment northwind
northwind's picture

that was my thought, nothing has changed in 350 years since pirate days. the fight is still for the guns, the gold, and the whiskey. gor rope?

Sun, 07/08/2012 - 19:33 | Link to Comment blindman
blindman's picture

is dr. doom an election year phenomena?

Sun, 07/08/2012 - 20:32 | Link to Comment blindman
blindman's picture

i ask a question and get a down arrow. that tells
me one thing for certain, do you know what that is?

Sun, 07/08/2012 - 23:33 | Link to Comment Seer
Seer's picture

If you look around you'll see that EVERYTHING has one or two down-arrows.  Trolls on the loose...

I think that you might be right.  Seems that Roubini has been kind of hidden away.  Looks like he's trying to garner a little interest (that's what got me going to his site, then he stated some really STUPID stuff so I left) while still playing the System's side (Ctl Print).  He's got too much stink on him, it'll never wear off: clearly he's still trying to rub up against the biggest stinkers- MSM.

Sun, 07/08/2012 - 19:33 | Link to Comment Irelevant
Irelevant's picture

Fuck this clown! He sais all that the money masters tell him to say.

Sun, 07/08/2012 - 19:34 | Link to Comment monopoly
monopoly's picture

The important part all is not what he is telling us. We know all of the above. We have been educated here for a long time on what is coming down the pike. What makes this important is that people listen to this man. He is of course telling the truth and repeating it again and again, but he is closer to the mainstream then us here at Zero Hedge. Not the idiot channel or MSN news, but many that follow the "other news". I find it disconcerting that the dollar continues to rally as the "one eyed blind man" leading the blind. But Europe continues to move closer to the cliff and is first up. So even gold, silver, short term can get hit. Does not change my stash at all. 

You know we will be getting close to an event when Tom Keene on Bloomberg, who I respect, asks Tyler Durden to do an uncensored interview with him......And Tyler accepts! THAT will be TV worth watching, finally.

Sun, 07/08/2012 - 23:36 | Link to Comment Seer
Seer's picture

A "one eyed blind man" is clearly blind.  I prefer: "best looking horse at the glue factory."  It has all the appearances of being capable and going far, but, context...

Sun, 07/08/2012 - 19:42 | Link to Comment rosiescenario
rosiescenario's picture

Ever the optimist, Dr. Roubini failed to mention that all of his financial end of days visions will pale against that provid ed by Mother Nature as the world's population gets a major culling this fall thanks to a newly mutated form of H1N5 which freely spreads from host to host in the air.

Sun, 07/08/2012 - 20:07 | Link to Comment Questan1913
Questan1913's picture

So I guess he's an impostor?  You are the real Doctor Doom?

Do NOT follow this link or you will be banned from the site!