We're going back in baby! Roubini predicts double dip!

creeper1 · 09-09-2010 07:40AM #1

He's the guy who saw all this coming. He predicted the housing collapse and now he's saying that the west is headed for a double dip. All the bullets have been shot.

http://www.telegraph.co.uk/finance/economics/7981334/No-defence-left-against-double-dip-recession-says-Nouriel-Roubini.html

You have to ask questions about the conventional wisdom of calling the west - the "rich west". I think we're heading for years and years of poverty.

If the above doesn't depress you try this from RT

http://www.youtube.com/user/russiatoday?blend=1&ob=4#p/u/6/OhV_tGrecqc

Nijmegen · 09-09-2010 08:12AM

Firstly, re: poverty, I'd go spend a few weeks in any one of a number of African or Asian countries before talking about the poverty we have in the west. Somehow, I don't see it getting that bad.

That being said, if we do go back in... Well, feck it, we're all going down together (except the people who screwed us).

However, economists are often shoot in the dark, get lucky types. Ask 3 economists their opinion about the economy tomorrow and you'll get 18 answers.

Tora Bora · 09-09-2010 08:29AM

Nijmegen wrote: »

Firstly, re: poverty, I'd go spend a few weeks in any one of a number of African or Asian countries before talking about the poverty we have in the west. Somehow, I don't see it getting that bad.

That being said, if we do go back in... Well, feck it, we're all going down together (except the people who screwed us).

However, economists are often shoot in the dark, get lucky types. Ask 3 economists their opinion about the economy tomorrow and you'll get 18 answers.

We have nothing to fear but fear itself:eek:

Our dear departed leader foresaw a nation not of monetary wealth, but of great happiness:cool:. With time passing in this era of great economic uncertainty, I get the feeling he was a man of great foresight:P. Unlike these mumbling economists, who cannot see the past, never mind the future.

Read the following, at least three times today, and let the karma wash over you:cool:

The Ireland That We Dreamed Of

The ideal Ireland that we would have, the Ireland that we dreamed of, would be the home of a people who valued material wealth only as a basis for right living, of a people who, satisfied with frugal comfort, devoted their leisure to the things of the spirit – a land whose countryside would be bright with cosy homesteads, whose fields and villages would be joyous with the sounds of industry, with the romping of sturdy children, the contest of athletic youths and the laughter of happy maidens, whose firesides would be forums for the wisdom of serene old age. The home, in short, of a people living the life that God desires that men should live. With the tidings that make such an Ireland possible, St. Patrick came to our ancestors fifteen hundred years ago promising happiness here no less than happiness hereafter. It was the pursuit of such an Ireland that later made our country worthy to be called the island of saints and scholars. It was the idea of such an Ireland - happy, vigorous, spiritual - that fired the imagination of our poets; that made successive generations of patriotic men give their lives to win religious and political liberty; and that will urge men in our own and future generations to die, if need be, so that these liberties may be preserved. One hundred years ago, the Young Irelanders, by holding up the vision of such an Ireland before the people, inspired and moved them spiritually as our people had hardly been moved since the Golden Age of Irish civilisation. Fifty years later, the founders of the Gaelic League similarly inspired and moved the people of their day. So, later, did the leaders of the Irish Volunteers. We of this time, if we have the will and active enthusiasm, have the opportunity to inspire and move our generation in like manner. We can do so by keeping this thought of a noble future for our country constantly before our eyes, ever seeking in action to bring that future into being, and ever remembering that it is for our nation as a whole that future must be sought.

MrDarcy · 09-09-2010 10:34AM

"We're going back in!", pray tell me when we actually came out of it first?!?

gurramok · 09-09-2010 10:52AM

That article sounds like USA has maxed out their credit cards and the debts are been called in.
I'd say its just a re-alignement of power shifting away from the US to Euroland & China

fontanalis · 09-09-2010 01:16PM

Tora Bora wrote: »

We have nothing to fear but fear itself:eek:

Our dear departed leader foresaw a nation not of monetary wealth, but of great happiness:cool:. With time passing in this era of great economic uncertainty, I get the feeling he was a man of great foresight:P. Unlike these mumbling economists, who cannot see the past, never mind the future.

Read the following, at least three times today, and let the karma wash over you:cool:

The Ireland That We Dreamed Of

The ideal Ireland that we would have, the Ireland that we dreamed of, would be the home of a people who valued material wealth only as a basis for right living, of a people who, satisfied with frugal comfort, devoted their leisure to the things of the spirit – a land whose countryside would be bright with cosy homesteads, whose fields and villages would be joyous with the sounds of industry, with the romping of sturdy children, the contest of athletic youths and the laughter of happy maidens, whose firesides would be forums for the wisdom of serene old age. The home, in short, of a people living the life that God desires that men should live. With the tidings that make such an Ireland possible, St. Patrick came to our ancestors fifteen hundred years ago promising happiness here no less than happiness hereafter. It was the pursuit of such an Ireland that later made our country worthy to be called the island of saints and scholars. It was the idea of such an Ireland - happy, vigorous, spiritual - that fired the imagination of our poets; that made successive generations of patriotic men give their lives to win religious and political liberty; and that will urge men in our own and future generations to die, if need be, so that these liberties may be preserved. One hundred years ago, the Young Irelanders, by holding up the vision of such an Ireland before the people, inspired and moved them spiritually as our people had hardly been moved since the Golden Age of Irish civilisation. Fifty years later, the founders of the Gaelic League similarly inspired and moved the people of their day. So, later, did the leaders of the Irish Volunteers. We of this time, if we have the will and active enthusiasm, have the opportunity to inspire and move our generation in like manner. We can do so by keeping this thought of a noble future for our country constantly before our eyes, ever seeking in action to bring that future into being, and ever remembering that it is for our nation as a whole that future must be sought.

Where's the bucket?

hinault · 10-09-2010 01:32AM

creeper1 wrote: »

He's the guy who saw all this coming. He predicted the housing collapse and now he's saying that the west is headed for a double dip. All the bullets have been shot.

http://www.telegraph.co.uk/finance/economics/7981334/No-defence-left-against-double-dip-recession-says-Nouriel-Roubini.html

You have to ask questions about the conventional wisdom of calling the west - the "rich west". I think we're heading for years and years of poverty.

If the above doesn't depress you try this from RT

http://www.youtube.com/user/russiatoday?blend=1&ob=4#p/u/6/OhV_tGrecqc

Has anyone got a revolver?:D:D

irishh_bob · 10-09-2010 08:49AM

interesting also how ( in another article recently ) he predicted that the gold bubble will soon burst , would seem unlikely if the global economy is going to enter a double dip as he predicts in this article

some day this guy will come out with a forecast which isnt akin to an irish summer forecast

dunsandin · 11-09-2010 09:15PM

Dont despair, I see a light at the end of the tunnel - though thats probably just Biffo sparking up a crafty fag where he thinks no-one will spot him.

creeper1 · 12-09-2010 11:54AM

Nijmegen wrote: »

Firstly, re: poverty, I'd go spend a few weeks in any one of a number of African or Asian countries

Yes pal I have been to a number of Asian coutries. Have you? I have been to South KOrea, Japan, Singapore and Malaysia. Are you going to tell me that the west is somehow superior, better or richer than them?:rolleyes:

If you want to see the way transport, to take one example, SHOULD work then I recommend you go somewhere like South Korea. It would be a humbling experience for you. If you think Ireland with it's Luas is somehow cutting edge then you'd be in for a shock.

Tora Bora · 13-09-2010 09:13AM

creeper1 wrote: »

Yes pal I have been to a number of Asian coutries. Have you? I have been to South KOrea, Japan, Singapore and Malaysia. Are you going to tell me that the west is somehow superior, better or richer than them?:rolleyes:

If you want to see the way transport, to take one example, SHOULD work then I recommend you go somewhere like South Korea. It would be a humbling experience for you. If you think Ireland with it's Luas is somehow cutting edge then you'd be in for a shock.

Plus they do a mean dog steak on a bed of rice:cool:

ardmacha · 13-09-2010 09:48AM

Originally Posted by Nijmegen
Firstly, re: poverty, I'd go spend a few weeks in any one of a number of African or Asian countries

Yes pal I have been to a number of Asian coutries. Have you? I have been to South KOrea, Japan, Singapore and Malaysia. Are you going to tell me that the west is somehow superior, better or richer than them?

Nijmegen did not say that Ireland was richer than all Asian countries, but that it was richer than a number of Asian countries. Ireland remains one of the wealthier countries of the world (and a lot wealthier than Malaysia). Talk of "poverty" is misusing language when a the vast majority of Irish people live in large houses and the roads are congested with expensive cars.

maninasia · 13-09-2010 01:19PM

creeper1 wrote: »

Yes pal I have been to a number of Asian coutries. Have you? I have been to South KOrea, Japan, Singapore and Malaysia. Are you going to tell me that the west is somehow superior, better or richer than them?:rolleyes:

If you want to see the way transport, to take one example, SHOULD work then I recommend you go somewhere like South Korea. It would be a humbling experience for you. If you think Ireland with it's Luas is somehow cutting edge then you'd be in for a shock.

As a long-time resident of Asia I have to agree..most Irish people have absolutely no clue how advanced many of the countries are here already, and that even includes some cities in China! Ireland might have higher pay than a place such as Malaysia but lowers costs, taxes and public services make it work out fairly equivalent in some ways. The rate of development in Asia overall is phenomenal.

I think he wants to emphasise the point that using 'Asia' in the same sentence as 'Africa' is probably a big mistake.

ardmacha · 13-09-2010 02:15PM

I think he wants to emphasise the point that using 'Asia' in the same sentence as 'Africa' is probably a big mistake.

The original point remains true, some Asian countries are extremely poor while others are wealthier than Ireland. Bangladesh, Burma, Laos, for instance, are poor by international standards and poorer than many African countries.

Ireland's problems are not comparable with Bangladesh, and the term poverty was inappropriate in the original post.

dunsandin · 18-09-2010 11:52PM

creeper1 wrote: »

He's the guy who saw all this coming. He predicted the housing collapse and now he's saying that the west is headed for a double dip. All the bullets have been shot.

http://www.telegraph.co.uk/finance/economics/7981334/No-defence-left-against-double-dip-recession-says-Nouriel-Roubini.html

You have to ask questions about the conventional wisdom of calling the west - the "rich west". I think we're heading for years and years of poverty.

If the above doesn't depress you try this from RT

http://www.youtube.com/user/russiatoday?blend=1&ob=4#p/u/6/OhV_tGrecqc

Time to club em to death with the butt then.

maninasia · 19-09-2010 03:20AM

ardmacha wrote: »

The original point remains true, some Asian countries are extremely poor while others are wealthier than Ireland. Bangladesh, Burma, Laos, for instance, are poor by international standards and poorer than many African countries.

Ireland's problems are not comparable with Bangladesh, and the term poverty was inappropriate in the original post.

Don't use the word Asia then, it is misleading.

RealityCheck · 19-09-2010 09:47AM

Nijmegen wrote: »

Firstly, re: poverty, I'd go spend a few weeks in any one of a number of African or Asian countries before talking about the poverty we have in the west. Somehow, I don't see it getting that bad.

That being said, if we do go back in... Well, feck it, we're all going down together (except the people who screwed us).

However, economists are often shoot in the dark, get lucky types. Ask 3 economists their opinion about the economy tomorrow and you'll get 18 answers.

maninasia wrote: »

Don't use the word Asia then, it is misleading.

He said a number of countries what is all the fuss about? :rolleyes: Was he meant to name every single poverty stricken country, there are quite a few in both continents.

maninasia · 20-09-2010 01:33AM

He could just as easily have said Romania or some other dump in Europe, I'm not sure if the 'number of' was there originally.

We're going back in baby! Roubini predicts double dip!

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