MSM: The worst is yet to come: Unemployed Americans should hunker down for more job losses

(NYDaily) – Think the worst is over? Wrong. Conditions in the U.S. labor markets are awful and worsening. While the official unemployment rate is already 10.2% and another 200,000 jobs were lost in October, when you include discouraged workers and partially employed workers the figure is a whopping 17.5%.

Roubini: Global Markets Could Soon Crash

(Newsmax) – The global markets are at risk of crashing when the dollar rebounds, says economist Nouriel Roubini.

MSM: Roubini Sees Stock Declines as Soros Warns on Economy

(Bloomberg) – New York University Professor Nouriel Roubini said stock markets may drop and billionaire George Soros warned the “bankrupt” U.S. banking system will hamper its economy, highlighting doubts about the sustainability of the global recovery.

Video: Marc Faber and Nouriel Roubini

(CNBC) – Squawk Box – October 1st, 2009

Video: Nouriel Roubini – US Economy Facing Death by a Thousand Cuts

(CNBC) – Professor of Economics and International Business at the Stern School of Business, New York University.

Post-Bubble Malaise – Mike Whitney

We keep hearing that “The worst is behind us”, but the spin doesn’t square with the facts. Sure the stock market has done well, but scratch the surface and you’ll find that things are not as what they seem.

Roubini: The World Faces a “Rising Risk” of a Double-Dip Recession

Nouriel Roubini recently told The Financial Times (as summarized by Huffington Post):

The world faces a “rising risk” of a double-dip recession.

Roubini’s increasingly vocal about the risk of a recession relapse in the past few weeks…

The Spend-And-Borrow Economy – Nouriel Roubini

In the last few months the world economy has been saved from a near-depression. That feat has been achieved by a range of extraordinary government stimulus measures: In the U.S. and in China, and to a lesser extent in Europe, Japan and other countries, governments have pumped liquidity, slashed policy rates, cut taxes, primed demand and ring-fenced and back-stopped the financial system. All of this has worked, but at a cost. Governments have been spending and borrowing like never before. The question now is: how do they stop?

Crisis of Solvency or “Double-dip Recession”

(WashingtonsBlog) – In an essay entitled “The risk of a double-dip recession is rising”, Nouriel Roubini affirms two important points:

Searching for the Depression and Finding It

(DannySchechter) – Economic Stress Is Hidden, But It’s There in a Recovery That Isn’t.

The Economy is in Deep, Deep Trouble…

Booyah. It’s morning in America. The jobless numbers are stabilizing, the stock market is sizzling, quarterly earnings came in better than expected, traders have turned bullish, housing is showing signs of life, and clunker-swaps have given Detroit a well-needed boost of adrenalin. Even Cassandra economists –like Paul Krugman and Nouriel Roubini–have been uncharacteristically optimistic. Is is true; did we avoid a Second Great Depression? Is the worst really behind us?

Do We Really NEED The Giant Banks?

Bernanke, Summers and Geithner say that we can’t let the giant banks fail, because – without them – the economy will be starved of credit and we will be plunged into a depression.

This isn’t true.

Why America is a Bank-owned State

In my last column I introduced the idea that America’s handling of the financial crisis, and in particular the way it has refused to deal with the banks, is more in keeping with how an “emerging” economy might behave and act. So this week, I will say that America has become a bank-owned state, allowing its banking oligarchs to suffocate the economy so they can survive at any price.

How long can the Dollar Last as the World’s Reserve Currency?

The big question is how long can the dollar last as the world’s reserve currency? Needless to say, that is not an easy question to answer.

Heads In The Guillotine?

We have had a decade-long litany of malfeasance and fraud within Fannie and Freddie – for the second time – but just like the last time, the worst outcome has been some executive terminations. Oh, and $5 trillion of securitized debt sitting around like a ticking nuclear weapon, looking for a good time and place to blow up.

Is This an Age of Financial Reform or Plunder without End?

Will the Financial Reforms lead to Change or just Prop up the Status Quo?
It is almost axiomatic to argue that renewal comes out of chaos. And reform and change are born in crisis.

The Almighty Renminbi? – Nouriel Roubini

The 19th century was dominated by the British Empire, the 20th century by the United States. We may now be entering the Asian century, dominated by a rising China and its currency.

MSM: Global Crisis ‘Vastly Worse’ Than 1930s, Taleb Says

(Bloomberg) – The current global crisis is “vastly worse” than the 1930s because financial systems and economies worldwide have become more interdependent, “Black Swan” author Nassim Nicholas Taleb said.

Stock Market Bulls Have Got it Wrong, Warns Nouriel Roubini

Nouriel Roubini, the so-called “arch bear” economist who predicted the current financial crisis in 2006, added further gloom yesterday after he wrote off recent rises in global stock markets as no more than a dead cat bounce.

No End In Sight – Mike Whitney

It’s been 21 months since two Bear Stearns hedge funds defaulted setting off a series of events which have led to the gravest economic crisis since the Great Depression. No one expected the financial meltdown to hit this hard or spread this fast.

MSM: Toxic debts could reach $4 trillion, IMF to warn

Toxic debts racked up by banks and insurers could spiral to $4 trillion (£2.7 trillion), new forecasts from the International Monetary Fund (IMF) are set to suggest.

The Dance of the Trillions to Shore up Banks, Bankers, and Gamblers

After ten years of wholesale financial deregulation, bad policies and unsound banking practices, and facing a worsening recession, over the last year and a half the U.S. government has been pumping trillions of dollars in order to deleverage and recapitalize banks that were on the brink of insolvency. But the banking crisis is of such a magnitude, and the damage done to the financial system so widespread, that each pumping of money into the system has never seemed to be enough.

MSM: Roubini Says Stocks Will Drop as Banks Go ‘Belly Up’ (Update2)

(Bloomberg) – U.S. stocks will fall and the government will nationalize more banks as the economy contracts through the end of 2009, said Nouriel Roubini, the New York University professor who predicted last year’s economic crisis.

The Federal Reserve is Bankrupt

How Did It Happen and What are the Ugly Consequences?

Nouriel Roubini: The U.S. Financial System Is Effectively Insolvent

For those who argue that the rate of growth of economic activity is turning positive–that economies are contracting but at a slower rate than in the fourth quarter of 2008–the latest data doesn’t confirm this relative optimism. In 2008’s fourth quarter, gross domestic product fell by about 6% in the U.S., 6% in the euro zone, 8% in Germany, 12% in Japan, 16% in Singapore and 20% in South Korea. So things are even more awful in Europe and Asia than in the U.S.

MSM: Roubini tells Geithner to nationalise US banks

Tim Geithner must nationalize some of America’s biggest banks and take the total toll of the US bail-out to around $2 trillion, according to one of the world’s most prominent economists.

MSM: Stocks Could Drop 20%, No Safe Haven: Dr. Doom

US and global stocks are still likely to fall because the corporate and economic news will be worse than expected, Nouriel Roubini, RGE Monitor Chairman, told CNBC.

Warnings of Food Riots resulting from Global Economic Crisis

 The headline of an article on Bloomberg warns “Food Prices Will Rise, Causing Export Bans, Riots“.

Leading economist Nouriel Roubini warns of possible food riots.