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Dr. Doom 2013 Prediction: Global Economic Turmoil Headed Our Way

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Dr. Doom 2013 Prediction: Global Economic Turmoil Headed Our Way
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Dr. Doom 2013 prediction: Economist Nouriel Roubini recently stated that a “perfect storm” for economic disaster is currently brewing, and he stands behind his beliefs. Considering Roubini is the guy who accurately predicted the country’s previous financial disaster, it’s safe to assume that countless buttholes are being clenched whenever this guy has something to say. And while you may think the 2008 crisis was the worst that could happen, Dr. Doom feels that 2013 is going to be much worse.

Roubini, who teaches at New York University’s Stern School of Business, explained the economic disaster looming on the horizon could cause the global financial system to “grind to a halt”, which isn’t the sort of thing you want to hear when you’re attempting to keep your family’s heads above water. Most folks are still trying desperately to regain the foothold they lost during 2008′s disaster, never mind preparing for a much larger problem down the road.

Dr. Doom’s theory: Tax increases and spending cuts will push the United States into yet another recession. This, combined with Europe’s debt crisis, China’s wonky economy, and a potential military presence in Iran, could shove most of the civilized world towards a complete collapse. The problem, of course, is that we’re quickly heading towards the point of no return. Unless something is done immediately to turn the tide, turmoil seems inevitable.

“There might be a weak rally because people are being cheered by more quantitative easing by (Chairman Ben) Bernanke and the Fed, but if the economy is weakening, that is going to put downward pressure on earnings growth,” Roubini explained.

Curious to hear more thoughts on the subject? The video you see embedded below contains a lengthy interview with Roubini, so feel free to dive in if you need more information.

Dr. Doom 2013 Prediction: Global Economic Turmoil Headed Our Way
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  • dorihe

    At this point, who cares. I have my own personal issues to worry about.

  • Edwah Dubwah

    I LOVE how every time it get’s closer to “the end of the world” some other douchbag comes out and says it yet another year, or two, or three years away…. If the christian version of “GOD” is coming, it says he will come “Like a thief in the night”.. NOBODY will know… and for the rest of us who recognize that each chapter is written by various different authors to try and control people using a “higher power” and that many books were left out of what we know as “The Bible”.. LAUGH.

    • Jesus

      If everyone on the planet picked the day that your so called Lord will come, then he would not be coming for at least 6.9 billion days since know one knows the day.

  • Erin

    If the world is supposed to end in 2012…who is going to worry about a financial crisis in 2013…JW

  • Loxi

    Duh! I knew this was coming years ago and I am a nobody. That is why I have not gone out and bought a bunch of big screen TV’s gone on lavish vacations ect. I am in good shape now and none of this is bothering me at all. Sometimes it does pay to be frugal. I read an article yesterday about a woman who was going on trips to Hawaii, now she is on the bread line to eat. So many people are buying stuff which will not feed you! When are people going to wake up! Times are BAD! When it is global that is even worse!

    • The Jolly One

      I guess I will join the Aqua Bats and be hurled into space by Space Monster M. I can go with them to the moon and to some other distant planets while this economic catastrophy blows by. When I come back and it is still bad. I will just go to another world and do my own thing.

  • http://yahoo Jewel Groom

    Well! at least I won’t be the only poor bastard in town!

  • 3mta3

    Man I wish this guy spoke English…anywho, to the cousin-diddling hick from Texas touting that they are gonna send Walker, Texas Ranger to repel the remaining 300+ million people that would invade Texas and pillage it for everything its worth (which is not much) keep this in mind…your ELECTRICAL POWER grid is DYING…so burn all you want..when all your Texas Instruments no longer work…we’ll see who comes crying first when your Water Reclamation and droughts DEVASTATE the population of Steer-And-Queerville.

    • Taylor

      It’s funny you say Texas doesn’t have much. So then why do we have the most prosperous economy in the Nation? Why has our population spiked in the past 7 years? Why is everyone and their dog flocking to Texas? Could it be the lowest unemployment rate in the country? Hmm I don’t know, guess we’re doing something right for some stupid ole hicks!

    • http://Dr.Doom Anna

      You’re an idiot, Texas has more to offer right now than any other state in the nation. You must be one of those cloud heads in Colorado too. Whatever state you live in I do know you are in a state of derangement. Go suck a wetback and draw your foodstamps and welfare as well. It’s people like you that shouldn’t be breathing but unfortunately you are taking up precious air that someone worthy should be breathing. Go breed with your mother, or maybe that’s what happened to you, she bred with a wild pig or bambi’s daddy. You suck so shut your ugly face. Nothing you said was worthy of even reading in the first place. Jackass Democrat.

      • bryan

        You mad?

  • Blueslover

    Of course, if the Mayans are right, we won’t have to worry about this anyway.

  • Mykeho

    Clenched buttholes? Really? Noob.

    • bryan

      haha that’s exactly what i was thinking. I don’t know what is dumber saying that, or Anna’s comment about revelations.

  • TJ

    And does he have any silver lining? Or is he just an expert at giving bad news?

  • bobitchin

    Vote the O guy out and this won’t happen

    • JWSC

      And what do you think one man has control over this. Look up and find the bar chart of our debt and see when all of this started, many, many years back. Our country is full of greedy, greedy, look out for number one(themselves) leaders. Our founding fathers would be SO HAPPY of them. Im so proud of our country,LOL. No one man can change this im not defending O for his chooses, I didnt vote so i have no say so, but after that election i went out and registered to vote. And after seeing our upcoming choices im going ahead and casting my ballot, and choosing not to vote, because neither one of these fellows have showed me that they can properly run this country. Its gonna take all of us, every last person(AMERICAN) to stand up and make choices to fix this country. We got to start standing up for whats right not wrong, our Creator gave us a life instruction book(BIBLE), what this country was founded on. And our country has stepped away from what it says. Until we go back to basics nothing is gonna change. GOD BLESS EVERYONE AND OUR COUNTRY.

  • http://Dr.Doom Anna

    The world is going to end alright read Revelation but no man or woman will know the minute or the hour or the day or the year but it isn’t going to be long I know that for sure. We are at the 7th seal. Read your BIBLE and you will see it. And, it’s the truth, not just some political scam for votes because believe me, none of that or anything else is going to matter. I may have no right to say anything, but I DO BELIEVE IN GOD and I DO BELIEVE THE END IS NEAR !!

    • bryan

      keep your beliefs to yourself, so when your wrong not everyone thinks you are a whack job. And whats SOON, give a better timetable. Have some courage and give us a date. See if you can do better than the last 100,000,000 plus people who’ve been saying that since the bible was written.

  • Arne

    The world will not end yet, its only the beginning of the great tribulation.

    • Delvan Bradford

      nobody the day nor the hour the only persons knows when the world will end is GOD himself.

  • Rob

    He sounds right to me…did anybody think that we have recovered enough since 2008, with two wars, and all the other problems; unlimited $$$ in politics, natural disaters every other week, debt crisis etc etc etc…Time for another American revolution.
    This is long overdue !

  • Marty Germano

    All the prevailing economic factors that Mr. Roubini points out are true. What is unknown is the outcome. There is no set of historical precedents that would equate to current global economic conditions. Therefore, Mr. Roubini’s guess is as good as your own. I’d like to think the glass is half full not half empty. And, with microscopic i rates, where can you put your money: stocks, bonds, under a mattress. Some businesses and counties will come out of this economic turmoil stronger. I wish I knew which ones ?

    • j

      written by a lawstudent or someone in middle school? how stupid… “what is unknown is the outcome… haha. Interest rates are low to promote spending… stocks and bonds yes, under your mattress no

  • http://yahoo.com voiceofcalmandreason@yahoo.com

    your address wont be published. yeah right. this dude has it all wrong. according to all the nuts out there the world’s gonna end 12/31/2012. so this fruitcake’s predictions won’t matter

    • shawntey sandoval

      BTW I do beleive that the “nuts” are predicting the end of the world on 12/21/2012.

  • Stephen

    I’m sorry, but should we really believe something coming from a guy named “Dr. Doom”? I feel like he would be the next villain in a Batman comic.

  • Diana

    Wait…isn’t the world supposed to end 12/21/2012?

    Kidding, no one knows when that will happen.

    • Becker

      First, there going to ba a massive coronal ejection, from the sun on 12/21/12. This large amount of radiation is going stop cars, trucks, power plants etc. Anything that has digital technology or digital chips installed in it. Our own government made the decision to not upgrade our power stations with Rad-hard digital technology. All the digital electronics that control the switching power grid will simply shut-down during a massive influx of radiation from the sun or an Eletro-Magnetic Pulsing device ( low grade nuclear device ),sent from China or Russia.

      Sorry, but this administration has done virtually everything to dismantle our technology and military hardware. If anything happens, we are on our own. There will be no-one that can help us, no-one.

      I know all about this because I am a Defense Eletrical Design Engineer who was layed-off, thanks to the Obama administration. Next time when you need protection from natural disasters or China or Russia,
      just call 911. I am sure they WILL NOT be able to respond.

  • jennita

    i agree…things are only going to get worse.

  • MidnightStar Sparks

    Cool Story Bro!! No seriously tell it again!! i am so sick of these bullshit doomsday prediction although this one isn’t impossible.. But seriously people use some common sense it’s not that hard!

  • Joel

    Nothing like reading comments from the uninformed. To the person who said that DR DOOM might be a Batman villain, Doom is actually the nemesis of the Fantastic Four. And 12/21/12 is NOT the end of the world…it is the date the Mayan calendar ends. That usually indicates the end of a cycle, NOT the planet!

  • http://www.directory.org.pk Pakistan Directory

    How his Possible,,,,,,,

  • M Batt

    Yes soo true I agree Arne,..The Great Tribulation.. Trials and lots of big trouble coming..only the strong and pure will stand… Babylon the Great with all of it’s power over the world’s economy and false religions is predicted to fail and fall away like Humpty Dumpty…and all the mercants will cry for days and years on end.Only the saviour can start a new and bright beginning,not any man on earth can do that..except the final Anti christ..who will soon appear saying he is the one who will be able to solve all of the world’s problems.. but we don’t need anymore taxes and banks and rich getting more richer we need something that will work for the whole human races and make us as One….Keep Watching.

  • M Batt

    Yes soo true I agree Arne,..The Great Tribulation.. Trials and lots of big trouble coming..only the strong and pure will stand… Babylon the Great with all of it’s power over the world’s economy and false religions is predicted to fail and fall away like Humpty Dumpty…and all the mercants will cry for days and years on end.Only the saviour can start a new and bright beginning,not any man on earth can do that..except the final Anti christ..who will soon appear saying he is the one who will be able to solve all of the world’s problems.. but we don’t need anymore taxes and banks and rich getting more richer we need something that will work for the whole human races and make us as One….Keep Watching.

  • M Batt

    Yes soo true I agree Arne,..The Great Tribulation.. Trials and lots of big trouble coming..only the strong and pure will stand… Babylon the Great with all of it’s power over the world’s economy and false religions is predicted to fail and fall away like Humpty Dumpty…and all the mercants will cry for days and years on end.Only the saviour can start a new and bright beginning,not any man on earth can do that..except the final Anti christ..who will soon appear saying he is the one who will be able to solve all of the world’s problems.. but we don’t need anymore taxes and banks and rich getting more richer we need something that will work for the whole human races and make us as One all the signs are here amazing….Keep Watching.

  • M Batt

    Oh so Sorry the posting had a problem and went three times..hope two can get removed

  • Michael Moore

    You do not have to believe what this ecomonist is predicting. You just have to read articles about the world around us. Spain is on the brink of collapse. Numerous nations in the westernized world have been battleting ecomomic downturns that continue to worsen. The natural disasters have not aided in the building of the ecomomies, it seems like we are a war or a disaster away from total collapse. Our government continues to push for a spending ecomony, when most Americans are already highly endebted into homes, student loans, car loans, credit cards, etc, etc, etc. How long can we sustain a spending ecomony? It is just a matter of time people, we need to change our ways of thinking in society in order for us to be able to sustain what we have. Don’t forget our social security system is on the brink of collapse. The savings are IOU’s from the government so that money is already spent. More and more people go into welfare, disability and social security retirement each day out of necesity. Our world is collapsing as we speak but because most of us are so busy with our personal lives, we don’t realize what is happening.

    • j

      your a clown and a spectator. Why dont you listen and learn, you gain nothing from telling anyone anythingl You have no teeth in the game yet make opinions and that makes you a phony. You say spending will kill us? You dont even know the economic impact of higher taxes. Whats funny is that you say all you have to do is read. Thats funny because you are spectating off the spectator, the writer. you suck and i hate people like you.

      • ben dover

        J, you are an idiot. He isn’t speculating off the speculator. Do you follow the news at all? All he is stating is the obvious economic trends and events around the world. I’ll break it down for a simpleton like you .. “Spending more than you have = bad”. Eventually it’ll catch up.

  • allan bard

    Dr. Doom..shouldn’t he be clad in armor and a mask, fighting the Fantastic Four? Would’ve made more sense.

  • Hugh Hefner

    Dr. Doom just needs to get laid.

  • Gary craig

    People need to repent of their sin including hugh hefner. He is one of the biggest reasons we are in this mess.

    • Sarah Fielder

      I did not not know that Mr. Hefner was to blame for all our problems… You forgot to mention Larry Flynt and all the others. Doesn’t that good book you all live by say judge not? The reason we are in this mess is our government not any single private enterprise.

      • C

        The Good Book doesn’t say, “Judge not.” It says, “Judge not, lest ye be judged,” Meaning, you can judge all you want, but you better be careful, because you will be judged directly in return.

  • Barbie

    The economy is so fragile right now and is slowly building up and in some professions that was surrounded by a flow of income (real-estate) is a example of a slow build up. I think we should throw caution at least to these predictions cause until this nonsense of 2012, if it ever comes, we have to deal with the states of the world’s resources and economy and other issues. We also need to figure out how to make it grow and STABILIZE it and to have BOOMS every now and then before our children are forced to clean up the mess that we leave behind. No more blame games no more how is in debt or bankrupt chit-chat… time for solutions that lead to permanent excellent results.

  • j

    These comments are why the general population shouldnt vote. Everyone just sounds pathetic, bc they are spectators. Why dont you listen and learn, you gain nothing from telling anyone anythingl You have no teeth in the game yet make opinions and that makes you a phony. These posts say spending is bad? These people dont even know the economic impact of higher taxes yet make comments. Whats funny is that when people say all you have to do is read and not listen to economists. Thats funny because you are spectating off the spectator, the writer. you suck and i hate people like you.

  • michael g, mclaughlin

    If austerity works so well look to Ireland, Spain and Greece. How is austerity working for those folks? You conservatives with money think you can get out of paying this time again.
    And what are worse are the want’a be rich folks and their attitude of let’em eat cake. Wow, not a clue. Rich and spoiled and satisfied with themselves.

  • Andrew

    that’s so loose butthole

  • Beth

    I’m no economist, but I think that when the “have nots” have more than the “have’s,” there’s a problem. I work two jobs to maintain a VERY middle class lifestyle. I see unemployed people all around me who have cell phones, their kids have the latest gadgets & they get free breakfast & lunch at school. They take vacations, get tatoos, smoke cigarettes & go out for fast food whenever they want. I’m picking tomatoes & cukes out of my own garden & hanging my clothes on the clothes line before I head out to work.

    Too many people in our country have a decent lifestyle without earning any of it. Eventually, the working people who pay for all of the social programs won’t be able to afford to take care of all the people who choose to take the handouts.

    There are jobs in manufacturing available in my area, but they go unfilled. They pay a living wage & some offer health insurance, but if there’s not a reason to work all day, why would you do it?

    • http://zero Fred

      Spot on Beth !!! I am SOOOOOOO sick and tired of paying for all of these “freeloaders” !!!

      • james

        one thing to consider is that you spend your money responsibly and they spend theirs on all the gizmos and gadgets and tattoos

        • jj

          It’s not their money James…It’s ours that they are spending. We are the ones supporting them!

      • ben dover

        totall agree. the entitilist filth of this country are slowly destroying it. They won’t stop until they’ve stolen every penny from the hardworking americans who bust their butts on a daily basis to earn a respectable living. The only thing worse are the liberals that are pushing their political agenda.

    • Jack

      Right on!! I live in a small town (13,000+) in south central Ca. I’m fed-up with those that don’t want to work because they can live off-of what they get from the govt. There’s a lady in our town who gets $2700.00 a month in welfare, plus food stamps, rent assistance, and WIC. In addition, she filed tax for last year and received a $12,000.00 refund, thanks to (un)Earned Income credit.
      Why work when you can get all you need, and more, from the “working class”?

    • Heather

      Right on, Beth. It disgusts me to have some family members other people I see around CA that are not working and have money to do everything. Those who work are paying for their lifestyle. I will soon be in the same boat, as soon as I start my same job, but I feel I will need it for self support and benefits. It seems for the honest Americans that are left, damned if you do, damned if you don’t…

      • Heather

        *excuse the typos:
        1).I meant second job, and the healthcare and insurance from it.
        2). …family members and other people I see in my neighborhood in CA that are not working and seem to inexplicably have the means do do whatever they want.

        Honestly, it makes my blood boil.

  • Rob

    The simple fact is that greed is destroying the global economy.

    They can spin it any way they want, but greed is the ultimate reason for all of the financial mess the world is in.

    Wealthy people never seem to have enough. They need to rise in the Forbes rankings so they will do whatever it takes to generate more for themselves.

    When you are at the top, you care nothing for who you destroyed to get there, you just worry about all the others on the pedestal trying to knock you off it.

  • Seth

    WHO CARES! NOBODY! the only way this problem will be fixed is if EVERYONE yes this means everyone on this site “CHANGES THEIR MINDS” and starts doing what is right for ALL HUMANS not just your little retard group that you soooo much stand for and yes I’m talking about super rich down to homeless and everyone in between WE ALL HAVE A PART TO PLAY…so let do our jobs and stop lookin at what you dont have or what someone else has and you dont think they deserve it…otherwise guess what…THE SAME CRAP WILL CONTINUE!!!!DONE!

    • Mario Mancha

      I’m not for higher taxes or for bigger govt, I’m not a Rep. or Dem. but I beleive reducing the tax burden on the middle class and allow them to have more free cash on hand to spend on products and services the 1%s produce, makes more sense than continue giving the tax breaks to the 1%s so they can in turn deposit them in overseas accounts and use the excuse of not being able invest or expand their current business, thus creating jobs.

    • Mario Mancha

      I’m not for higher taxes or for bigger govt, I’m not a Rep. or Dem. but I beleive reducing the tax burden on the middle class and allow them to have more free cash on hand to spend on products and services the 1%s produce, makes more sense than continue giving the tax breaks to the 1%s so they can in turn deposit them in overseas accounts and use the excuse of not being able invest or expand their current business, thus creating jobs. Empower the middle class!

  • jomosdaughter

    I totally agree with Seth. You know its really hard for the president to get anything done when the other party is constantly STONEWALLING and making sure NOTHING gets passed. They pretty much have try to set him up to fail. Their only goal throughout the last 4 years was to make sure that he is NOT reelected. They aren’t really talking about how they are going to change or make the economy any better. Its sad……I’m sure EVERYone that reads this will know the person I will be voting for this NOvember. Thank Goodness I have a government issued ID. It’s funny this didn’t seem to be an issue for the last few decades, but as soon as the black president gets into office it is. Lets make sure that that a lot of his voters are not going to be eligible to vote for him this election by passing these bogus voter suppression laws. Anyway I’m done rambling.

    • TJ

      Where is there room for compromise? One party thinks that government is the answer to all of our problems and needs to do more and more and one party thinks the government has gotten way to big and needs to get smaller.
      Those who want a smaller government will never stand for a government that only grow a little bit bigger. Those who want a government that does more and more will never stand for a shrinking government.

      Grid Lock

    • Randy

      jomosdaughter: EACH party has done that to other for years. Bush couldn’t get much done his last term because the Dem’s controlled Congress. Apparently now it’s the other side’s turn. By now the sitting president can no longer blame his woes on what he inherited. His party has controlled Congress until recently I believe. I think they still control the Senate. Be thankful you are able to vote for the candidate of your choice. In many parts of the world that is not possible. Your last topic is funny. In Texas we’ve been pushing for voter ID proof for years. Long before Barack/Barry Obama, or whatever his last name really is, came along. It started long before any candidate of color came to light. Do you have a problem proving who you are when you write a check? Make a credit card purchase? Rent an apartment? Buy a car? People say it is an undo hardship on Obama’s supporters because they may not have a car. It seems these people had adequate transportation when it came time to go to file for welfare, food stamps and other means of support. The funny thing is that I never had to go anywhere to get my voter registration card nor show an ID? At least as far back as I can remember. Someone said the other day people in West Texas are at a disadvantage because many areas don’t have the proper office for the ID issuance and they’d have to travel to get it. Valid point, true. But the number of people affected in that way is very small when compared to the overall potential voter pool. Many counties out there have less than a few thousand citizens. There should be a better way for them to get an ID. I find it interesting they’ve (“the disenfranchised”) come this far without some form of valid ID.

      • mark

        Really, the Dems took control of congress on the 5th of January 2007, that means the first budget they passed was in October 2007, in effect January 08…so tell me how your logic works.. because it only affected his last year in office,not his last term. Bush couldn’t get anything done because everyone realized he was a complete criminal, a 911 puppet, a lying war monger, a death distributer… what a disaster

  • Ralph

    I just want to say that while i agree completely that people who refuse to get jobs, and rely on public aid and services, and then pass that same attitude on to their children, who then, a generation later do the same as their parents are a part of the problem, however, the “entitlist filth”, as one commentor chose to call them, are certainly not the whole problem, possibly a fraction. Its funny how people blame the folks at the bottom of the economic ladder when its the people at the top who are actually stealing your money through bailouts and tax breaks. Lets not forget our lost war. Yup everyone has already forgotten about the people that died, soldier and civilian, essentially to fatten the pockets of a few elitist. The last years military budget was roughly 10 times that of NASA’s budget for the last 10 years. I see a lot of hate mongering and the blame game is continually played but let me ask a question to everyone here. What have YOU personally done to help your fellow man? While his response was a bit strong i, for the most part agree with Seth. The root of all of our problems is an overabundance of greed and total lack of compassion. At the end of the day, were all human, and we as a species, can not survive without each other. As a matter of fact, i highly doubt everyones able to continue living the priviledged lives that we live for any longer than 10 years. Sooner than later, we’re gonna have to make a choice. Do we fight and bicker until all the remains are a few, or do we make peace and help each other so that we all can survive.

  • Stephen

    It is like we are all pushing a bus down a road, of course the old people are riding in the bus, but they did their share of pushing long ago. The kids are also riding in the bus, but they will hopefully be strong pushers when they grow up, and hopefully they are on the bus doing school work and getting a good education. All other able bodied people should be helping to push the bus. Every person who is capable of pushing but decides to climb on the bus instead makes the bus that much harder to push, not only have we lost a pusher but the bus gets heavier. Some day the bus may stop going forward and roll back and kill us all.

  • theresa

    why cant the government just give all us Americans the money they keep spending on stupid bail outs and other shit. if they did that more than likely we wouldn’t be where we are today right?

  • joe blow

    screw this guy, all we can do is have hope

  • G.Myers

    The long and short of it is what the world has been saying for decades….Fat lazy Americans. Using the “bus” example, everyone benefits when the bus moves; top and bottom, but everyone wants someone else to push harder. Tink about it, in your day to day life, how many people who do less than you at your job demand more out of you?

  • Jack Handy

    Well….this guy sure knows all the BS republican phrases…..uh…bridge to nowhere….etc…

  • marcia christie

    My parents lived through the great depression, What they learned was dont live beyond your means, save up for what you want and pay cash, living on credit and loans only leads to ruin at some point. spend what you need to and save the rest for a raainy day or emergencies. I only wish this country would do the same, not live on projected income stop bailing out other countries and be the first country to help in a disaster, weould they all help us? not. charity begins at home and take care of family first. We need better education not less less welfare programs without time limits and and stronger rules. If one more person lumps social ssecurity in as a entitlement program I will be very upset. I have paid into the system for 40 years. Congress does not, president does not wealthy shouldnt be eligible to collect and the government should pay back the loans that it took out of the social security account, and social security should go back to having its own fund, not lumpted into the general fund. It too makes me crazy to see all the freeloaders and illigals getting benefits, Now illegials can get social security even if never worked. What happened to this country. What happned to obey the law, not just the ones that are to your liking. sorry to rant but we need new blood in office get all the elected officials out no more perks no more **&% the people. We should have a turnover every 4 years of elected people. No one should serve more than that. Not a a whole lifetime and they should have the same benefits as everyone else. Bet obama care would disappear quickly. pay into retirement like we do no one should get free retirement.Lets see have I coveered everything. Let the rest of the world solve their own problems and leave us to care for our own people get those illigals out of here. Let them come back the right way. No more anchor babies.no other country gives out the things we do if we stop will they stop comming?

  • laurel

    HHHMMMMMMM……

  • Penny Shreve

    He is quite knowledgeable! But with all due respect, it doesn’t take a Dr. or a Professor or even an Economist to see what’s coming. Any middle-aged-and-beyond woman could tell you the same thing simply because she’s paid bills and bought groceries for decades…and she sees the problem every day at large stores: grocery prices have doubled–even tripled in some cases–in the past five years. And when we do load up our carts we must stand in line three times as long to cash out because there are never enough cashiers no matter which big store you shop in what is most certainly a money-saving move. The writing is on the wall.

  • Jayla Alex-Johnson

    I think that some of this article maybe true! i Also think that 2 get out of the economic crisis americans need 2 stop working as person and for once as PEOPLE!

  • Andi

    Todd your poor choice of words “Countless buttholes will be clenched” is totally unprofessional. You’re fired.

    • Frank Coto

      We need to prepare for the worst case scenario…no Atm’s, no groceries, civil turmoil for an unknown period of time.

  • Kia

    Ok???? What does he want US to do? What is the point of telling everyone this if you have no solution???

  • Jeff Herman

    Why is no one talking about the headwinds facing consumption in this country and what effect it will have on the U.S. and world economies?

    The United States is by far the largest economy in the world, and consumer spending represents 70% of our GDP. Over the past 30 years, U.S. consumption has had a wildly positive growth affect on the rest of the world.

    Our consumption was fueled by four accumulative forces:
    *the doubling of consumer debt from 1980 to 2007
    *the tripling of government debt from 1980 to 2012
    *a 500% reduction in interest and mortgage rates from 1980 to 2012
    *the ability to borrow money with little proof of income, from 2004 to 2007

    These forces created a firestorm of consumption felt around the world. Unfortunately, they have run their course and will not be repeated in our lifetime. In most cases they are reversing course and will have an opposite and negative effect on consumer spending.
    *consumers are now shedding debt
    *state and federal governments are in a fight to the death to cut deficits, with the same occurring in Europe.
    *interest rates are at a multi generational low. Even if rates just stay flat, they will not provide the kind of multiplier that falling rates have had.
    *consumers have lost over 40% of their net worth, leaving them with little collateral for borrowing, let alone surviving the new onerous lending regulations.

    These enormous macro economic trends are nearly impossible to repeat. If we had just one of them today, we would greatly reduce unemployment. But sadly, we have not even one.

    Can someone please explain to me where consumers will find the money necessary to continue the excessive spending that created the greatest prosperity the world has ever seen.