recession

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Predicting Crisis: Dr. Doom & the Black Swan!

Ya gotta watch this! Here we have a bunch CNBC talking heads — need I say, clowns? — firing stock-tip questions at two heavyweight economists who are trying to explain to the talking heads the nature of reality! Reality: the world is on the threshold of a total financial collapse, and you ask for stock tips? Sheeesh!

Nouriel Roubini, Dr. Doom: The recession is in danger of becoming L-shaped, rather than U-shaped, meaning it stays a recession for a loong time. Even if we do everything right, i.e., monetary easing, fiscal stimulus, fixing banks, we could still end up with the L-shape. Stock tips? Cash is king!

Nassim Taleb, The Black Swan: People who got us into this mess are still around; they should be thrown out and replaced by people like Nouriel who saw the crisis coming. Stock tips? 100% to 200% in cash!

Go HERE to watch this amazing video.

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Did I once say everthing’s going to hell in a handbasket? Yes, I think I did, in this post. Well, that was then! Look what’s happening now!

And yet, and yet, I see this this morning: S&P 500, Dow futures jump on Wal-Mart optimism. I guess everybody’s going to their local Wal-Marts these days to save money. Hey, when the barrel’s almost empty, why not scrape the bottom of it? So, let’s see what the new day brings. How low can things go? Pretty awful low! Way more to go? I think the world’s going to hell in a hand basket. HA HA?

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