Dr. Doom says we are headed for a depression

[REWahoo]

[Warning: The following article may not be suitable for those susceptible to foreboding predictions and dark moods. Proceed with caution.]

Nouriel Roubini (AKA "Dr. Doom"), to no one's surprise, is predicting severe economic bleakness ahead in his latest opinion piece, "The Coming Greater Depression of the 2020s".

The world has long been drifting into a perfect storm of financial, political, socioeconomic, and environmental risks, all of which are now growing even more acute.

Rubioni says the "Greater Recession" Covid-19 triggered will be followed by the "Greater Recession" and lists 10 reasons the world's economic future looks bleak for the coming decade.

Rather than list them, I'll let you read the short article linked above.

Meanwhile, I'm heading over to YouTube to check out some cat videos...

 

[Nemo2]

Nouriel Roubini (AKA "Dr. Doom"), to no one's surprise, is predicting severe economic bleakness ahead

If Paul Krugman agrees with him...then we should be pretty safe.

 

[Rianne]

But L.A. and India have clean air!



https://www.google.com/search?sourc...pAhULQK0KHcOtBI0QsAR6BAgKEAE&biw=1600&bih=706

 

[targatom2019]

reminds me of Bill Ackman with his end of the world interview but made billions the next day.

 

[Gumby]

reminds me of Bill Ackman with his end of the world interview but made billions the next day.

Talking his book. They all do it.

 

[Freedom56]

I don't know about a depression but a long grueling recession with chronically high unemployment is likely. We are certainly moving into a period of deflation. All that excess inventory that retailers are holding will have to be liquidated soon.

 

[W2R]

Nouriel Roubini (AKA "Dr. Doom"), to no one's surprise, is predicting severe economic bleakness ahead in his latest opinion piece

If he is married, I'll bet his wife has tried to smother him with a pillow at least twice and is putting questionable ingredients in his food.

 

[Dtail]

If he is married, I'll bet his wife has tried to smother him with a pillow at least twice and is putting questionable ingredients in his food.

Nice cheery avatar I see you have.

 

[pb4uski]

I saw what we are/will be shortly experiencing referred to as the "Great Repression"... worse than the Great Recession of 2008 but not as bad as the Great Depression. I think that might be about right.

 

[kjpliny]

But, but...the Fed will fix everything!

 

[atmsmshr]

If he is married, I'll bet his wife has tried to smother him with a pillow at least twice and is putting questionable ingredients in his food.

Oooh - there is a dark side that I had not seen in you before.

But I still agree with you.

 

[Starsky]

Unless the government pays everyone to go back to work, a depression is pretty much inevitable. The difference this time is that the entire world will go through it with us.
With so many people exhausting their savings, the demand side of the equation will take a long time to recover. Roubini is also unfortunately 100% correct about China - even with a Biden administration, the die has been cast. I think the big break will come when Chinese companies are delisted from US stock exchanges. China experts claim it's unavoidable.
Get ready people. It could get rough for awhile. The one thing we will fear, but cannot afford to fear, is austerity. Our only solution will be to spend our way out, and make large structural changes to our economy to prevent this from happening again.

(If we follow Germany's re-opening plan, that could mean hiring at least 1.5 million people for tracing and tracking this disease for the next couple of years. We know it takes them 5 people per thousand to do the job. Probably more in big states with low population densities.)

 

[bbbamI]

It's my impression a depression or recession could be in session.

 

[MichaelB]

It's my impression a depression or recession could be in session.

Come on, you’re just messin’

 

[bbbamI]

Come on, you’re just messin’

Ok..you've got me. Instead of session, it could be progression.

 

[REWahoo]

Ok..you've got me. Instead of session, it could be progression.

Think you learned your lesson?

 

[bbbamI]

 

[jollystomper]

Think you learned your lesson?

I'm just guessin'...

 

[REWahoo]

I'm just guessin'...

So now you are confessin'?

 

[sheldon cornped]

Unlessin you can't get enough of the pessimissin, go to Youtube and check out Gerald Celente, a perma-pessimist. I go there occasionally for entertainment value. Man this guy has a big axe to grind. His message never changes.

 

[jollystomper]

So now you are confessin'?

Please forgive my transgression.

 

[audreyh1]

Dr. Doom! So that Romanian vampire is still around, eh?

 

[Stormy Kromer]

If my neighbor loses his job we'll be in a recession. If I lose mine, we'll call it a depression.

 

[Lsbcal]

I read the article and have no way to know how much weight to give to each of the 10 negative items Roubini outlined. But the situation is clearly very dangerous. The service industry is very big in the US and apparently the consumer drives 70% of the economy. A deep recession appears to be a high probability event. And it could be a lot longer then people think.

From several comments here, I don't understand how some here can so easily laugh off this sort of thing. Personally I'm very very conservatively invested at this time. I just want to get though the next year at a similar portfolio level.

Caveat: I don't follow Roubini's comments and track record.

 

[REWahoo]

From several comments here, I don't understand how some here can so easily laugh off this sort of thing.

Google "whistling past the graveyard."