No Quick Fix: Roubini Forecasts Worsening Economy, 2-Year Recession

TIME TO GO SHOPPING...BUY BUY BUY

Wow even an actor cannot fix a problem ... that is why their opinions mean nothing .... California Budget gap (as a % of the total budget): 22% Gap: $22.2 billion Wikipedia: Public Domain California Governor Arnold Schwarzenegger warned this week that the state might need to borrow $7 billion from the federal government, if credit markets don't ease, to pay for salaries and other operating costs. The state, which has been battered by falling home prices and foreclosures, enacted a budget that imposed cuts to the state's health insurance program for the poor and other social service programs.

Roubini ... Houdini .... tomato .... toomato .... whats the difference. If he is so smart why isnt he a Fed chairman. He is nothing more than an armchair financial quarterback.

If what he says is true (and thus far he has been right), 2009 is going to be a tough year. Come on 2010! I hope there is a rainbow at the end of all this mess.

HMMMM, time to get to the bank, I think I need to get some of MY money before it is gone.

Now that the state of Florida has this the Cuban refugees will leave .... Florida Budget gap (as a % of the total budget): 19.9% Gap: $5.1 billion The Florida housing slump is one of the worst in the nation and only appears to be getting worse. The $66 billion Florida budget for the coming year is about $6 billion less than the one approved the previous year. It includes a $332 million reduction in public school spending and cuts to state hospitals, nursing homes, and various social programs.

The real problem is the housing bubble and this problem has to bottom out quickly rather than gradual decrease because the job market will surely be affected if this housing bubble bottom out gradually. It it hurts, that is life but the gradual pain will create more pain. The question is what is the bottom ?

Confidence is missing despite all package of help investor still dont trust.....Bear are taking all the money this time with no respite...That is the game....No bear no recovery................Bear has festivity........Bear demoralized so much the investor.......The Bull on run on the cave......When will the Bull come back......when the bear are sleeping in the winter..........Confidence.....Confidence.......is Missing.........

Our economy has been a house of cards for years, now some cat has come along and kicked out one of the bottom cards and they guys that built the house are scrambling trying to keep the rest of the cards from collapsing. Now they're talking about the recession, is that to keep us from thinking about the hyper-inflation we're going to have to deal with. All this money they're putting into this to keep it afloat has to be printed, the Fed and Treasury don't have that kind of money. With the banks holding some $183 Trillion in derivatives, there's going to be a lot more printing going on before this is over.

Silver Surfer... We need your breakdown on this one!!!

Central banks are trying anything, and everything, to shore up confidence in the global financial system amid the current crisis but Tech Ticker is doing every thing they can to scare the crap out of people so they can buy cheap shares

i like roubini but i need a transcript to understand him or i have to go back and forth and replay the video 20 times

We have nothing to complain about, after all, it is our fault we elected the people we did to run this country to the ground and run up a 50 Trillion dollar debt. Lets place blame where blame is due. The voters, just like we blame CEO's when they run their companies into the ground. Last election, was anyone complaining about a tax break? Was anyone complaining about a tax rebate check? No, is everyone aware that we have multi trillion dollar debt, totalling 50 Trillion? Yes, but we still want our taxes cut and make believe there is no debt. Well, looks like we did it, now our grandchildren, great grandchildren and great great grandchildren can pay it off. No one is losing anything in the stock market, no one is losing anything in their 401 k's because it was not there to begin with, it was all borrowed money and now that will be over and we will start over.

What nonsence. So how DOW 7000 is going to fix the problem ? He shoud be taking about how we avoid that. Where was this guy last year when DOW was close to $15K.

Reuters Yahoo shares plunge as Wall St. cuts target prices Wednesday October 8, 11:50 am ET NEW YORK (Reuters) - Shares in Yahoo Inc (NasdaqGS:YHOO - News) dropped as much as 9.5 percent in early trading on Wednesday after two groups of Wall Street analysts cut their price targets for the Web company's stock due to a weakening display Yahoo really knows how to pick em. Get some real financial analyst here

Time to take all of YOUR money out of everything!

IS THE TIME TO BUY GOLD WITH LITTLE MONEY WE HAVE LEFT IN OUR 401k ?

I like to see republicans in denial. Just tow the line. Speak the party line. It is still what it is. People can see it.

You guys trying to act like you know anything, or you interview a person who knows? If you are all so smart, why do you need to work, or work at such a volitile aspect of a job? All the doom and gloom you bring to public in your show, you think folks have not heard enough bad news already? Perhaps you feel you are giving fair warning, do you think if a person is not out of market by now they should get out today? what is your goal for all the doom words and your calm to just sit and discuss these most serious problems brought upon US average citizens by such experts as your selves, who issued counterfeit mortgages and fabricated a way to steal from hard working * saving US citizens. Perhaps finance majors who have no morals, or do not practice right and wrong, but only what can I steal from others and put into my own accounts, is that the peers in finance you failed to recognize in time to point the finger and prevent or minimize this deep hole of lost confidence and lost savings, and USA theft of the resources of the more responsible side of the citizenship, who is left holding the bag here? I can tolerate no more of it, not today.................gone............10-8-2008

I like Roubini , too. Also, the reason he's not chariman of the Fed is b/c his interests are for what is right for the country, not what is right for the capitalist elites like Bernanke/Paulson/Bush. Bush was on TV the other day saying the US economy was going to be fine, in the long run... Sure, if you are in the upper class with several years of idle cash lying around, no sweat, what is a multi-year recession to an elite? Heck, an a member of the elite class, what is a couple of years of unemployment right? Of course, if you're not among the "few and chosen" the above scenario will, at the least, lower your standard of living considerably, to at worst, completely crush you if you're unemployed for more that a year.... , or at worst,