Thursday, December 17, 2009, 10:13PM ET - U.S. Markets Closed.
While "nobody knows what's going to happen," Wolf notes recent forecasts from various international organizations are "pretty scary," including:
"It's a real collapse," Wolf says. Declines of that magnitude "haven't happened since the 1930s."
As a result, "people in the developed world suddenly feel completely out of control for first time in 70-80 years," he continues. "Huge forces are now unleashed."
These forces include the kind of social unrest evident in London and more recently in emerging economies; similar disturbances are very possible in America too, he says.
But Wolf doesn't expect a repeat of the 1930s, in terms of economic or geopolitical turmoil, noting social safety nets in the developed world and a general sense of cooperation among most nations to combat the crisis.
If nothing else, that's a bit of hopeful news amid an otherwise grim backdrop.
It's a good thing that the economy is BOOOOOOOOOOming!!! This world is one BIG F#@$ing LIE..........
Of course there will be social problems. The have nots always want what the haves have, but especially when the have nots have even less. This is a real potential problem for the U.S. Will the United States hold together or are we headed for a dissolution? That would definitely be CHANGE. Be careful what you wish for because you just might get it.
Fear cannot be banished, but it can be calm and without panic; and it can be mitigated by reason and calculation-----George Bush
American mobs get a lot more respect because they have Night Vision and rifles, not torches and pitchforks. European protesters are just a bunch of soccer hooligans who show up for free alcohol.
I protest this Euro Idiot! What a mouthful. Saying the U.S. should appologize is a joke. Yes we might have led the world into this economic mess but everyone needs to take the responsibility for the part they played in it. The Euro's love it when they are all making money but run to blame the U.S. at the first sign of adversity. Don't worry as alwasy we will save the world again. It's a thankless job that unfortunetlay we always fill. The Euros shoudl be thankful that the continent wasn't taken over by Communist Russia or better yet Nazi Germany. Your welcome for nothing so keep crying!
No need to worry, Wall Streeters. Even as the world slips into social unrest and turmoil, you can always retire to that quiet Pacific island you purchased with your ... stolen loot.
Don't you two EVER have anything positive to report??
I can't believe that Scotttrade sponsors all your negative reporting.
So 1,000 wacko environmentalists is representative of massive worldwide social unrest? Yes, let's definitely base social and economic policy off of every protest that gathers that number of people. Personally, I find the dart board to be a better gauge. "People ... (are) out of control. Huge forces have been unleashed." Where did they get this guy? Sounds like a frustrated sci-fi writer.
Invest in guns and ammo. Social unrest is an understatement.
Now we know the true identity of Chicken Little. It is Martin Wolf. Watch Our! Watch Out! The Sky is Falling!!!
Well Billy Bob. The majority of the Have-nots used to be the Haves, and it is obvious to them that the Haves-more took it away from them. Blood in the street to the nth degree, in many US Cities, coming to a City near you this Summer. Don't miss it!
I am angwy and fwightened.. pwease hep me...
Social unrest will be fun. I better get out and practice shooting. I'll put up cardboard cutouts of fat, overpaid, useless CEOs to practice on.
According to Abraham Lincoln in his first inaugural address, the people have the absolute right to revolution. A fundamental reason for the Revolutionary War was taxation without representation. With 25,000 highly paid lobbyists dominating the attentions and finances of 535 congressment the bulk of the people have been priced out of their representation. I suggest campaign financing reform of a radical nature and that it not be left to the self-interested parties to determine. Too much governance is left to self-interested parties, its like the principles of checks and balances has been unlearned in the US.
Go ahead and shake your finger at the angry mob. Scold them about their laziness as they burn your house to the ground. And as they’re stringing you up by your heels, you can shout at them that they’re all just jealous…..
I wish they would "UNREST" oil down to about $37.
"In God ,we trust" ---- Who can say to God? God is not a person whom we are going to meet some day....
Get these socialists out of the media, it's a big part of the problem..
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Yahoo! Finance User - Wednesday April 01, 2009 03:27PM EDT
Long IOU... short USA