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Thursday, May 23rd, 2013 |
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NYU Economist Says the Worst Is Yet to Come For U.S. Economy
The Daily Sheeple
Well known mainstream economist and professor at New York University Nouriel Roubini doesn’t think we’re out of the woods just yet. In fact, the famed theorist who foresaw the stock market crash and economic meltdown of 2008, thinks things are going to get even worse in the very near future. There’s a reason that Roubini is often referred to as Dr. Doom (not to be confused with the other Dr. Doom, economist Marc Faber):
The majority of Roubini’s forecasts have been right on target, which is likely why some of business’ best and brightest regularly attend his speeches, including the likes of Bill Gates and Warren Buffet. If Roubini is right about this one, then look out below, because this latest correction in stocks has been just a small taste of what’s to come. Delivered by The Daily Sheeple Contributed by The Daily Sheeple of www.TheDailySheeple.com. This content may be freely reproduced in full or in part in digital form with full attribution to the author and a link to www.TheDailySheeple.com. Please share: Spread the word to sheeple far and wide
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v.8
Mad Max here we come.
In the stock market the traditional methods which center on opportunity and optimism (trying to pick winners) by directly infusing those ‘winners’ with capital, a self-fulfilling endeavor… have become overshadowed by methods that pivot on third party dis-opportunity (picking losers) where through sports-book style margin calls and puts, so-called investors place bets on who is going down first, how far, how hard.
The virtual money that changes hands in these negative karma transactions is completely brokered by third parties, not even the true competitors of a targeted business will benefit, and earlier players’ winnings are almost exclusively comprised of recent players’ losses. It is a pyramid scheme of ill will.
It is a vulture culture.
Now add to that a backbone of millisecond speed hair-trigger trading that picks an observed trend line that is expected to flatten out, sets triggers to bail and attempts to milk the trend with a flood of small transactions issued in near real time that ‘pinch’ from one side of the line and ‘flick’ over the other. Because humans are still involved the trend-lines still form, but we are approaching the threshold where the humans are becoming confused by the volatility and unpredictability of the market. Human traders are now completely swamped by electronic trading noise and robot trader volume — thankfully they are starting to say ‘screw this’ and withdraw from the process altogether.
Under Glass-Stegall there were banks and there were bottom feeders.
Welcome to the post Glass-Stegall world your FDIC insured dollars are playthings, and no one ever lost their job trying to skim off of ill will.
The whole mess needs a total reboot.
Good stuff.
In other words there is no money there and a totally correction would be 0 or negative to generate more debt.