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Do not give in to Evil, but proceed ever more boldly against it

Wednesday, July 16, 2008

Fasten Your Seatbelts, Please

Nouriel Roubini of NYU has been one of the few economists consistently calling his shots over the past two years, including being one of the first to discuss the then-upcoming American housing collapse in 2006.

His firm this evening sent the following email:

RGE Monitor MEDIA ALERT: Nouriel Roubini predicts the worst financial crisis since the Great Depression and the worst U.S. Recession in the last few decades.

New York, July 15, 2008- In a series of recent writings on the RGE Monitor Nouriel Roubini – Chairman of RGE Monitor and Professor of Economics at the NYU Stern School of Business - has argued that the U.S. is experiencing its worst financial crisis since the Great Depression and will undergo its worst recession in the last few decades. His analysis leads to the following conclusions:

Read the links and take appropriate actions to preserve yourself and your family.

And remember how the world's socialist empires (including that of Frank Roosevelt) behaved the last time things got this bad.

Tempus fugit.


Anonymous Vanderboegh said...

The critical thing will be this: How does our fragmented national polity, divided as it has been by liberal interest group politics and largely divorced for generations from both its moral basis and the land -- the twin foundations of civilization, belief and self-sufficiency -- react to hardship. Poorly, I suspect. The armed citizenry is about to come back into its own.

July 16, 2008 at 1:32 AM  
Blogger Loren said...

Three kinds of people will come through this: The absurdly rich, the new generation of hobos, and the well prepared. I do not unfortunately fall into any of those categories. College does that. Hopefully after this year I'll have an AS in robotics, but there's a lot I need a BS for, and some of it I want before the recession. Looks like I might not get to do some of it.

July 16, 2008 at 5:32 AM  
Blogger George said...

Scary stuff, but we have been preparing. I'm ready, and I am convinced we will have one great opportunity to succeed, but we will noit have that chance if we waffle.

July 16, 2008 at 6:17 AM  
Anonymous Vanderboegh said...

"I am convinced we will have one great opportunity to succeed, but we will not have that chance if we waffle."

YES! You are precisely correct. If we wait too long, imperial butchery and chaos. If we do something half-cocked to discredit us, same result.

Now, if we can only get that idea across.

July 16, 2008 at 8:29 PM  
OpenID event.horizon said...

As a hedge against the deflationary crash that everyone can feel coming, I've developed a investment strategy based mainly in precious metals - i.e. brass, copper, lead, steel - along with gunpowder and a few carefully chosen finished goods to round out my portfolio. My strategy has to do more with preservation of life and liberty than with preservation of wealth, but its one that fits my personal beliefs and personality and so is easy to adhere to.

See ya on the other side of the crash...


July 16, 2008 at 8:56 PM  
Blogger W. W Woodward said...

Dr. Ron Paul has been telling us for decades, not just two years, that this situation is imminent. But, of course Dr. Paul is a nut case and not worth listening to.

July 17, 2008 at 2:42 AM  

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