Dr Doom - STAY OUT!!!

[theblackhole]

Nouriel Roubini

Known as Dr. Doom, the NYU economics professor saw the mortgage-related meltdown coming.

We are in the middle of a very severe recession that's going to continue through all of 2009 - the worst U.S. recession in the past 50 years. It's the bursting of a huge leveraged-up credit bubble. There's no going back, and there is no bottom to it. It was excessive in everything from subprime to prime, from credit cards to student loans, from corporate bonds to muni bonds. You name it. And it's all reversing right now in a very, very massive way. At this point it's not just a U.S. recession. All of the advanced economies are at the beginning of a hard landing. And emerging markets, beginning with China, are in a severe slowdown. So we're having a global recession and it's becoming worse.

Things are going to be awful for everyday people. U.S. GDP growth is going to be negative through the end of 2009. And the recovery in 2010 and 2011, if there is one, is going to be so weak - with a growth rate of 1% to 1.5% - that it's going to feel like a recession. I see the unemployment rate peaking at around 9% by 2010. The value of homes has already fallen 25%. In my view, home prices are going to fall by another 15% before bottoming out in 2010.

For the next 12 months I would stay away from risky assets. I would stay away from the stock market. I would stay away from commodities. I would stay away from credit, both high-yield and high-grade. I would stay in cash or cashlike instruments such as short-term or longer-term government bonds. It's better to stay in things with low returns rather than to lose 50% of your wealth. You should preserve capital. It'll be hard and challenging enough. I wish I could be more cheerful, but I was right a year ago, and I think I'll be right this year too. ..................


Many Sammyboys have been giving warnings and warnings about this impending global depression...and many have also warned that Singapore's suicidal investments will be badly hit and the people will suffer severely....now we're seeing the wisdom and foresight of Sammyboys!!!....so how to ride this storm? can Singapore pull through this time round? What will happen? Any answers from our Sammyboys?

 

[congo9]

Nouriel Roubini

Known as Dr. Doom, the NYU economics professor saw the mortgage-related meltdown coming.

We are in the middle of a very severe recession that's going to continue through all of 2009 - the worst U.S. recession in the past 50 years. It's the bursting of a huge leveraged-up credit bubble. There's no going back, and there is no bottom to it. It was excessive in everything from subprime to prime, from credit cards to student loans, from corporate bonds to muni bonds. You name it. And it's all reversing right now in a very, very massive way. At this point it's not just a U.S. recession. All of the advanced economies are at the beginning of a hard landing. And emerging markets, beginning with China, are in a severe slowdown. So we're having a global recession and it's becoming worse.

Things are going to be awful for everyday people. U.S. GDP growth is going to be negative through the end of 2009. And the recovery in 2010 and 2011, if there is one, is going to be so weak - with a growth rate of 1% to 1.5% - that it's going to feel like a recession. I see the unemployment rate peaking at around 9% by 2010. The value of homes has already fallen 25%. In my view, home prices are going to fall by another 15% before bottoming out in 2010.

For the next 12 months I would stay away from risky assets. I would stay away from the stock market. I would stay away from commodities. I would stay away from credit, both high-yield and high-grade. I would stay in cash or cashlike instruments such as short-term or longer-term government bonds. It's better to stay in things with low returns rather than to lose 50% of your wealth. You should preserve capital. It'll be hard and challenging enough. I wish I could be more cheerful, but I was right a year ago, and I think I'll be right this year too. ..................


Many Sammyboys have been giving warnings and warnings about this impending global depression...and many have also warned that Singapore's suicidal investments will be badly hit and the people will suffer severely....now we're seeing the wisdom and foresight of Sammyboys!!!....so how to ride this storm? can Singapore pull through this time round? What will happen? Any answers from our Sammyboys?

i thought our great leaders with super vision has saw this coming ?

 

[silverfox@]

How come so many experts come out and say all these especially after the meltdown.
Why wasn't that much mentioning before the meltdown occured? :p

You all want to know what is going to happen tomorrow? Don't worry, I come tell you all on Sunday.

Like that I can also be expert and anyone of you also can be expert

 

[Bigfuck]

How come so many experts come out and say all these especially after the meltdown.
Why wasn't that much mentioning before the meltdown occured? :p

You all want to know what is going to happen tomorrow? Don't worry, I come tell you all on Sunday.

Like that I can also be expert and anyone of you also can be expert

Fuck you and go read about roubini. People studying and talking about this 4 years ago. He even tell you have it would come. And he is telling you how it will be coming. How come after people tell you the prediction and reaffirm it when it happens you sour grape?

 

[Frankiestine]

i thought our great leaders with super vision has saw this coming ?

our super leaders should have joined SB Club...but better late then never...

 

[makapaaa]

He's LYING! *zzzz*​

 

[singveld]

can we blame PAP for the economic crisis of the world??

i wonder...

every age need a bogeyman, it was the nazi, then the communists, maybe it is the sinkies next.

It is because PAP have so much money, they lend to USA and china etc, with the lending interest rate low, fuel by cheap money and people in USA borrow excessively, the massive bubble economy burst and now everyone on earth in trouble.

So, we can get obama to turn sinkies into the new bogeyman???

someone have to take the blame..... it cant be the great amercia fault. must be sinkies.

 

[shelltox]

Nostradamus saw it 400 years ago/

 

[theblackhole]

Nostradamus saw it 400 years ago/

so what we do now? sit it out, enjoy as much as we can and wait for judgement day? or go out and make a difference to our miserable existence?

 

[chupacabra]

it cant be the great amercia fault. must be sinkies.

Every country was benefiting when America was spending beyond its means.

Now countries blame America for their recession .

How come countries especially asian one did not concentrate on their own economy earlier instead on relying totally on america's consumerism?

During the 97 crises, countries that had a vibrant local economy was hardly effected. Why didn't peesaipore learn from then?

 

[johnny333]

During the 97 crises, countries that had a vibrant local economy was hardly effected. Why didn't peesaipore learn from then?

LKY & family can shrugged of their mistake & go on to making more. They will still collect their millions in pay & bonuses. Where is there any incentive to learn & improve?

 

[theblackhole]

we're just too small - just too vulnerable, too fragile and too chialat leow!!!

$$$Prayers and $$$$Hope....Singaporeans pls gear for the worst....u see the 4000 elderly above 60 queuing for $10 and $30 angpows???....see the long queues in Singapore...even children come and queue for their grandparents.....even those less than 60 also queue hopefully for some - given $10 angpow....

I hope more rich people will do the same....give angpows to the poor, the sick, the elderly and the needy.

Any millionaires and billionaires in Sammyboys? Care to give angpows?

 

[shelltox]

Everything will come to pass, it is just a blip in human history and also a non event in the history of 6 billion history. life goes on, empire rose , empire declined. Once giants dinosaurs roam the earth but were wipe out , the only reminders are the fossil that archaelogists dug out. Human may goes the way of the dinorsaurs, other living creatures shall take over human as the dominant creatures on mother earth.

 

[chingchong]

PM Lee is not good at making economic forecasts.

The only thing he saw coming is his husband.

 

[ahbengsong]

i thought our great leaders with super vision has saw this coming ?

In July 2007, MM Lee Kuan Yew proudly and boldly proclaimed that Singapore is in a “golden period” which will extend to many years to come:....

so much for lky's vision or blurred vision...

 

[johnny333]

so much for lky's vision or blurred vision...

Worst than blurred vision lah.
When you get old, some people see things others don't.

Can someone go tell LKY to get checked at Woodbridge. Its free what, since he is an elite.

 

[Frankiestine]

In July 2007, MM Lee Kuan Yew proudly and boldly proclaimed that Singapore is in a “golden period” which will extend to many years to come:....

so much for lky's vision or blurred vision...

he should get his glasses changed...

 

[theblackhole]

i really don't understand how singaporeans can be so gullible and ignorant to be drawn into this financial blackhole!!! and this happened despite all the red flags and warnings written on the wall - even here in sammyboys!!!

i'm speechless and dumb-founded how we could fumble like this??? is this just karma???