Prof. Roubini: Possible Market Shut Down And Major Conflict.

Prof. Roubini: Possible Market Shut Down And Major Conflict.

www.telegraph.co.uk

"It's the beginning of the decline of the US financial empire. The Great Depression ended in a massive war. I hope that's not going to happen but it's pretty ugly now," Prof Roubini said.

He added that turmoil over world trade, currency markets and debt is likely to cause geopolitical tensions between the Western world and emerging superpowers such as Russia, China and "a bunch of unstable oil states".

(visit the link for the full news article)



Related AboveTopSecret.com Discussion Threads:
Warnings from world leaders all within 72 hours
Biden hints at crisis AFTER Obama is elected

Professor Roubini of the University of New York (Stern Business School) is basically suggesting a world war could very possible follow after a meltdown of the system.

Are the pieces falling together, and are our leaders preparing for 'the worst yet to come' (Roubini), war?:

Biden:

“Mark my words,” the Democratic vice presidential nominee warned at the second of his two Seattle fundraisers Sunday. “It will not be six months before the world tests Barack Obama like they did John Kennedy. The world is looking. We’re about to elect a brilliant 47-year-old senator president of the United States of America. Remember I said it standing here if you don’t remember anything else I said. Watch, we’re gonna have an international crisis, a generated crisis, to test the mettle of this guy.”
“I can give you at least four or five scenarios from where it might originate,” Biden said to Emerald City supporters, mentioning the Middle East and Russia as possibilities.''

Powell

"The problems will always be there and there’s going to be a crisis which will come along on the 21st, 22nd of January that we don’t even know about right now.

And more warnings:
Warnings from world leaders all within 72 hours


Some background info on Roubini:

Source: Wiki

He served in various roles at the Treasury Department, including Senior Advisor to the Under Secretary for International Affairs and Director of the Office of Policy Development and Review (July 1999 - June 2000). Previously, he was a Senior Economist for International Affairs on the Staff of the President's Council of Economic Advisors (July 1998 - July 1999).

Currently, Professor Roubini is a Professor at the Stern School of Business at New York University. He has also held teaching positions at Yale University, but failed to get tenure.

Roubini is known for his predictions of financial crises, notably at the IMF in 2006, where he was received skeptically, with one commentator noting his lack of mathematical models. As of 2008 many of his predictions have come to fruition. Formerly an obscure academic, he has received invitations to speak before influential organizations such as United States Congress and the Council on Foreign Relations. As of August 2008, he remains pessimistic on the future of the US economy.[2] He has said that "we have a subprime financial system, not a subprime mortgage market".[2] He does not believe that the United States is entering the next Great Depression, but has said that he believes it will be worst recession since then.[2] He has clarified that his pessimism is focused on the short-run rather than the medium or long-run.[3]

In the 1990s, Roubini studied the collapse of emerging economies. Consistent with the unusual talent noted by Sachs, he used an intuitive, historical approach backed up by an understanding of theoretical models to analyze these countries and came to the conclusion that a common denominator across examples was the large [current account] deficits financed by loans from abroad. Roubini theorized that the United States might be the next to suffer, and in 2004 began writing about a possible/future collapse.[2]

www.telegraph.co.uk
(visit the link for the full news article)

I think it would be terribly foolish to deny that the world is headed down a very dark road. At this point in time, the chorus of warning is growing louder--we are all beginning to catch on. There is a certain tension in the air; I do feel that we will soon (how soon?) see a major international crisis, perhaps crises. It seems that rather than a slow build, the media and public figures are rather quickly warning the public (in a weak attempt at subtlety) of an impending event. The anxiety of waiting for "it" to occur is becoming increasingly bothersome for me. I know that worrying is useless, but the numerous possibilities and their varying levels of severity are terrifying. I hope that our governments are more prepared than we imagine them to be.

ya know, I was rather young when kennedy was assassinated, so I don't really remember much....
anyone wish to elaborate as to just how the world tested kennedy.....
all I can think of is the cuban missile crisis, which I don't see as the world testing him...and well....if that's it, well....bush is being tested in like manner I think, don't russia have a fleet of ships playing war games along side a south american country or two now?
the other "test" was the assassination, which was more than just a test. and well, if you believe the rumors, this was done because he was planning to do away with the fed. for the amount of money that is being pumped into the financial institutions, we should just about own the fed by now.....well, maybe not yet... and I am sure the fed doesn't see it that way...
but could anyone elaborate as to just how kennedy was tested by the world?
or...is this just more baseless jargon being thrown around because the masses don't really think about what is being said, they'll just latch onto it and go with the flow, regardless of weather it's based on facts or fallacy?

Both previous World Wars have been preceded by big financial / economic depressions. Maybe TPTB see a good war as a way of kick-starting things and thinning down the populations to a more manageable level.
It may sound a bit nasty but they are in the business of people management and need to do whatever is necessary in order to maintain control and their own positions. It also takes the focus off domestic issues and gives them more powers to stamp out dissent at home.

We, the people, are never privy to what goes on behind closed doors in their secret meetings and that alone should ring the alarm bells. The rich and powerful run the show and we are just the enablers, via taxation and government run pyramid schemes that always protect the people at the top.

Do I really think world scale wars have been deliberately planned in the past? Hell Yeah! Do I think they would do it again to protect themselves (and make a tidy profit too)? Absolutely!

All it needs are the right social and economic circumstances and a little catalyst event to kick it all off.

and scapegoats, don't forget about the scapegoats....

germany's economy was the first to fall in the depression.... the rest fell trying to bail out the others... now, it's the US, and well, everyone else is throwing money at the system trying to prevent the collaspe...
germany was the first one to use the scapegoating technique to help manage the dwindling resources... they picked some of the richest people in europe really, the jews.... confiscated their wealth, assets, and personal belongings and redistributed it amoung the rest. there were other groups that were picked out, but some of the jews were amoung the biggest bankers and such.

think about the past 10 or so years, how many attempts have been made to indoctrinate the country into the idea of scapegoats....tobacco users, single parents, gays, ect....and the newest class.....the bankers and players on wall street....

I find myself getting this sick feeling that we are the modern day germany, and well....follow their path, and you will see basically what we are heading for?

Pakistan has only enough cash to survive for six weeks.

The government is currently in talks with the IMF because all other nations have refused to loan Pakistan enough capital to operate. If no deal is reached, Pakistan could default.

The only Muslim nation with a nuclear arsenal will default - with the Taliban a reoccurring problem in tribal areas.

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Israel is heading to the polls after the Kadima Party could not locate enough partners for a coalition, due to Zionists requesting Jerusalem to be declared "Jewish and Jewish only."

Christians are fighting in Jerusalem over who has claim to the Church of the Holy Sepulchre. One sect is refusing access to the roof, which needs repairs, and lack of repairs could result into structural failure.

Originally posted by Britguy
Both previous World Wars have been preceded by big financial / economic depressions.

I've once before wondered whether a world war could end economic turbulence (depression).

From the thread linked above:

For the United States, World War II and the Great Depression constituted the most important economic event of the twentieth century. The war's effects were varied and far-reaching. The war decisively ended the depression itself. The federal government emerged from the war as a potent economic actor, able to regulate economic activity and to partially control the economy through spending and consumption. American industry was revitalized by the war, and many sectors were by 1945 either sharply oriented to defense production (for example, aerospace and electronics) or completely dependent on it (atomic energy).

I would not be surprised if we, unlike the previous world wars, will be the aggressor this time.

Originally posted by paperplanes
I think it would be terribly foolish to deny that the world is headed down a very dark road. At this point in time, the chorus of warning is growing louder--we are all beginning to catch on. There is a certain tension in the air; I do feel that we will soon (how soon?) see a major international crisis, perhaps crises. It seems that rather than a slow build, the media and public figures are rather quickly warning the public (in a weak attempt at subtlety) of an impending event. The anxiety of waiting for "it" to occur is becoming increasingly bothersome for me. I know that worrying is useless, but the numerous possibilities and their varying levels of severity are terrifying. I hope that our governments are more prepared than we imagine them to be.

Well, the former CEO of Ford Motors says, "Things are going to look sunny by late '09 early '10." So, don't worry. The former leader of a near defunct, second rate car manufacture says, "all is well."

The reality is we are in a very dire situation. I think folks who are stockpiling food are going to need to consider how they are going to grow, hunt, and raise food when SHTF.

I suggest that folks find a few books on hunting, farming, and animal husbandry. And again, learn skills that are useful in crisis times. I am not saying quit your job at the bank and become a plumber. However, knowing how to plumb, cut wood, dress out game, basic electrical wiring, advanced first aid, for a start may save your life.

Why worry, what good does it do? If you want to develop a healthy dose of debilitating paranoia then believe everything you read on these boards. Trust me I've been close to there. All these subtle warnings from people that keep being hinted at are either politicians speaking hypothetically to prove a point or individual people expressing an opinion. Just because you can connect dots to make a picture that doesn't mean you connected them correctly rather than connecting them to fulfill your vision of what you see.

Originally posted by stikkinikki
Why worry, what good does it do? If you want to develop a healthy dose of debilitating paranoia then believe everything you read on these boards. Trust me I've been close to there. All these subtle warnings from people that keep being hinted at are either politicians speaking hypothetically to prove a point or individual people expressing an opinion. Just because you can connect dots to make a picture that doesn't mean you connected them correctly rather than connecting them to fulfill your vision of what you see.

Yes, but on the flip side, burying your head in the sand is an equally foolhardy outlook. I don't worry. I have made preparations, I have a strong network of family and friends, and I am optimistic that good will always triumph over evil. Naive perhaps, but it's good to have faith in something. Otherwise you'd be Bill Maher and he seems like a miserable SOB.

reply to post by dawnstar


I have to say that the Cuban Missle Crises was a pretty big deal. Kennedy forced Russia to remove nuclear missiles from Cuba. During the stand off, we were all at the brink of nuclear war. Kennedy did not blink, and in the international game of chicken, he made Russia move.

Then he had to take the blame for the Bay of Pigs, even though it was the CIA that instigated it under George H. Bush. Kennedy strickly forbid it, but they did it anyway.

I think that's a pretty good welcome to the grown up table.

reply to post by stikkinikki


'Be aware' should be the mantra, rather than 'Be afraid'

I remember the Winter of Discontent only too well even though I was too young to understand the politics...piles of uncollected household waste in the streets, the 3-day working week, power outages, the lot...a real life-shaping moment in my childhood

My parents taught me to connect dots, to get engaged with the media and read between the headlines, to be aware, and to be prepared

As national economies begin to slowly unravel and strategic imports such as oil/gas/coal/etc from those nations that have surplus reserves begin to become too expensive to purchase from outside nations due to devalued currency, there will be conflict

Originally posted by traderjack
Yes, but on the flip side, burying your head in the sand is an equally foolhardy outlook. I don't worry. I have made preparations, I have a strong network of family and friends, and I am optimistic that good will always triumph over evil. Naive perhaps, but it's good to have faith in something. Otherwise you'd be Bill Maher and he seems like a miserable SOB.

Well said, I wholeheartedly agree with you. There's a distinct difference between being worried and being prepared.

PS Let's stick to the topic please.

ya, but it was russia testing us, not the whole world....

and well...bush has tested russia in like manner of late by pressing for georgia and other ex-satellite counties to be allowed to be part of nato, and russia is testing us in like manner when they play war games along side our south american neighbors....

all this is already going on, and well, Biden said the whole world would test us, not just a small group of countries...right?
doubt if we will get any answers as to what in the heck he was talking about from him, but well....
the closest I can think of...short of an assassination, would be for everybody to all get ticked off at us about our failure to pay our bills and come at us or something....like...the demise of the dollar as the world's currency???

Dawn, A star for you, you have hit the nail right on the head comparing the present day US with pre ww2 Germany. I have been saying this for along time, drawing peoples attention to the parralles between the two countries. The US ia now practically a mirror image of Germany in the late 30's.

Remember German citizens had gun onwership pre Hitler, they were well educated and hard working people but within the space of a few years they became the most muderous nation on the Planet and the most dispised. The US is now showing all the same signs and symptoms, no money, finding scapegoats to blame for its ills, drawing attention to the haves and have nots, rampant patriotism, controlled media, increasing draconian legislation, curtailing freedom and liberties.

There is nothing like a World War and a purge on your own people just to re set the clocks.

Originally posted by traderjack

Originally posted by paperplanes
I think it would be terribly foolish to deny that the world is headed down a very dark road. At this point in time, the chorus of warning is growing louder--we are all beginning to catch on. There is a certain tension in the air; I do feel that we will soon (how soon?) see a major international crisis, perhaps crises. It seems that rather than a slow build, the media and public figures are rather quickly warning the public (in a weak attempt at subtlety) of an impending event. The anxiety of waiting for "it" to occur is becoming increasingly bothersome for me. I know that worrying is useless, but the numerous possibilities and their varying levels of severity are terrifying. I hope that our governments are more prepared than we imagine them to be.

Well, the former CEO of Ford Motors says, "Things are going to look sunny by late '09 early '10." So, don't worry. The former leader of a near defunct, second rate car manufacture says, "all is well."

The reality is we are in a very dire situation. I think folks who are stockpiling food are going to need to consider how they are going to grow, hunt, and raise food when SHTF.

I suggest that folks find a few books on hunting, farming, and animal husbandry. And again, learn skills that are useful in crisis times. I am not saying quit your job at the bank and become a plumber. However, knowing how to plumb, cut wood, dress out game, basic electrical wiring, advanced first aid, for a start may save your life.

If we end up with Nuclear Winter, anything outdoors will be
contaminated.

Only those who dig down to uncontaminated soil and then in turn
isolate it from the contaminated environment can grow food
that will not have radioactive particles in it with a half life of 28 yrs.

It will make for some VERY rough and grim living.

I am almost 100% sure all livestock and animals will die.

Ppl will eat what they can grow in what little soil than can find that is not
contaminated.

A geiger counter that can detect the soil contamination is pretty
pricey, but a group could buy one together.

Otherwise get soil from plant pots indoors, or under sidewalks, etc etc.

Trees will pull up the radioactive particles so burning contaminated
trees for firewood would be bad as well as you would heavily radiate
your chimney and release radioactive ash and breath some of it in.

It will be so cold that your only hope of not dying of exposure
will be heavily insulated areas, or underground.

Much like the few humans that survived the Toba disaster.

www3.hi.is...

Nuclear Winter is going to drop temperatures so cold that it will
kill most life that is out in it during the VERY long winters.

Imagine august with a high of 75 Fahrenheit.

Watch the Korean penninsula very closely for the next 3-4months.


There was a reason the US removed North Korea from its "Axis of Terror" list, despite NK's continued "naughty" behaviour.

Removing the "terrorist" label considerably lessens the political, and corresponding economic, pressure on NK. That, in turn, so the hopeful theory goes, will lessen the economic pressure the illegal North Korean immigration issue was causing China.


China, as one of its primary "creditors" (landlord, if you will) was able to coerce a "hands-off North Korea" deal from the US, in return for not shutting down our economy...well at least any worse than it already has.


Anyone remember that terrified look on Paulson's face a few weeks back?



But in saving its own skin (at least temporarily), the US has sold its soul to the Devil.

And, I'm afraid, that bloody transaction will soon result in the subordination of South Korea to its northern neighbor.


Probably following the untimely death (or assination) of the current, hard-line, South Korean president.


Despite recent pledges of military support, unless the US can preform an economic miracle and jump-start its own damaged economy, South Korea will be left to the machinations of a PRC-brokered "Re-unification".