Tag Archives: Great Depression 2.0

Wall Street Apocalypse Now?

I’m not sure what to make of this, but it appears that at least some “people-in-the-know” on Wall Street are getting spooked—survivalist-style spooked. I suppose that, without credit moving through the system, that supply lines of goods and services could … Continue reading

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Nouriel Roubini Says: “NATIONALIZE THE BANKS”

The highly respected (and right so far) economist, Nouriel Roubini (“Dr. Doom”), is now advocating the nationalization of the banks, stabilizing them, and then reselling them back into the private sector. Read his argument for doing this (in a piece … Continue reading

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Seven Economic Doomsayers

From Nouriel Roubini to Nassim Taleb, The Daily Beast lists the top seven super smart (and right so far) economic doomsayers here. A scary list. Very scary.

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If America’s Economic Retraction Becomes Even Worse, Will We Behave Like the Waltons—or the Nazis?

In a recent essay, former NY Times foreign correspondant, Chris Hedges, asks what kind of America will evolve, should our current economic contraction prove to be the harbinger of America’s general decline as a world power. Will we see reactionary “Father … Continue reading

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The (Economic) Sermons on the Mount: In Davos, Switzerland, George Soros, Niall Ferguson, and Nouriel Roubini Pronounce Global Doom and Gloom

Daniel Gross, of Slate.com, spent three days at the Davos, Switzerland “World Economic Forum,” and among the high powered economists, CEOs, and academics in attendance he could find no optimists about the world economy. Not one. Nada. Zilch. And apparently many … Continue reading

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Do as I Say?

Don’t bail—but let banks fail? We’re “singing a different tune” now that it is America that is in a financial crisis. Today’s NY Times: [C]leaning up the banks’ bad assets, without extracting a heavy price for the bank managers, shareholders … Continue reading

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Obama Boxed In?

William Greider, of the Nation, paints today the bleakest economic picture that I’ve seen, suggesting that Obama’s stimulus package of 800 billion dollars is too small by at least HALF. He also suggests that Obama will need to nationalize the … Continue reading

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“No one will be safe”: Robert Patterson on the Boyd 2008 Weekend

Patterson lists the things that he took from this high powered intellectual conference. His whole bullet list is sobering. Below are two of them. Money quote: That there is no soft landing. We are not in a recession. We are … Continue reading

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$600 Billion Dollars?: Nobel Economist Paul Krugman Recommends That Obama Propose an Immediate Stimulus/Deficit Spending Package of Over a Half Trillion Dollars. He Says That to Avert a Full-On Depression You Cannot Be Timid

With Best Buy reporting a “seismic” decline in business, and the Fed unable to cut interest rates any lower than they already have, Nobel Prize economist Paul Krugman (of the NY Times) recommends to Obama that he propose immediately, on entering … Continue reading

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Great Depression 2.0: Is Treasury Secretary Henry Paulson a 2008 Version of 1929’s Thomas Lamont? (Lamont Was a Banker Who Put Together a Briefly Successful Luqidity Deal Before the Market Fully Collapsed.)

Thomas Lamont was an American banker, a fascist sympathizer, and someone who made use of a private yacht as part of his daily commute to Wall Street. In Ocober of 1929 he was a central player in putting together a liquidity … Continue reading

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