"Merill Lynch Advises Clients of 100% Possibility of Deep Double Dip Recession" (Need Help Verifyi

Not sure, OP, but perhaps your friend was referring to this report? Not quite 100%, but in the world of investment banking, this is as confident a statement of double dip that I've seen.

In fact, Peter Schiff (actually a noted bear) says we're already in recession again. No real shock there.

As for a "list," I'd be skeptical of anything specific, unless your friend's seen a list of financial firms with big exposure to Greece. Still, you can pretty much bet that blood will be let on Wall Street in the coming weeks, especially if Israel/Palestinian conflicts escalate and it finally overtly involves Syria and/or Iran.

No idea how to help you verify this type of thing, but what I can say is it isn't far fetched...

I know a growing number of corporates that have turned from cost cutting and other efficiencies to keep their businesses afloat to focusing only on the areas that protect stock price/resilience to market movements, more attention is being paid to protect that than improve order books, which screams to me the direction they fear the tsunami will come from.

Considering the the economic indicators and usual economist declaring "recession in/out" is a 6-9 month time lag...I would be inclined to say..."Welcome to the Double D"!

The only way out of this is the global dept being wiped clean. Nouriel Roubini, has stated that a minimum adjustment of 20% would be necessary:

etfdailynews.com...

Of course with "brilliant" people like this we are screwed:

townhall.com...

I wish I could go down into my basement and hit the "print" button, walk into the grocery store and buy my food, and make a deposit to JP Morgan/Chase with my "new" $$$$'s

When I was "asleep" and grinding out the "American Dream", I placed so much trust in Greenspan et. al.

Man.... was I STUPID DUMB A$$!

Regards and Nameste,

-Chung

P.S.

Anyone notice Krugman stepping out of line this weekend again?

krugman.blogs.nytimes.com...

Originally posted by SunnyDee

Originally posted by Lil Drummerboy
reply to post by SpaDe_

 

I have been in a wait and see mode for months,.
A Co-worker of mine has been a bit freaked out and has been selling Many stocks
and personal Items lately,.. Who knows.
Hell I just $pent a week in Maui

No worries here

No worries? Are you out of the market? Are you vested in metals? What makes you untouchable?

Hmm how to answer..
I have set myself up well in many areas.
you could say I have investments in metals, yes..
However,. as for the market..
I am betting on a "good time to Buy" soon.

Since Merill Lynch was taken over by Bank of America......30,000 jobs going.

business.techwhack.com...