The greatest economic recovery since the colonization of Earth by the Pleiadeans 150,000 years ago is coming to a halt. About a year ago, Dr. Doom: Nouriel Roubini, who in 2005 predicted the economic collapse of 2007-2008 made a bold prediction. He claims that the Obama Boom was fragile and weak. Roubini also predicted that the US would fall back into recession due to unsustainable Debt. Recent data is showing that once again, Dr. Doom appears to be correct!
Influential economist Nouriel Roubini has warned hopes that the recent slowdown was temporary have been dashed and predicted the US and other advanced economies will have a second “severe recession ”.
Writing in Monday’s Financial Times, the founder of Roubini Global Economics said: “America’s recent data have been lousy: there has been little job creation, weak growth and flat consumption and manufacturing production. Housing remains depressed. Consumer, business and investor confidence has been falling, and will now fall further.”
“Since this is a crisis of solvency as well as liquidity, orderly debt restructuring must begin,” said Roubini.
Read the rest: Soft Patch Delusion Is Dashed: Roubini
Two years ago the Obama Boom was declared. Media financial writers like Daniel Gross claimed this would be the greatest economy ever. The media kept pushing the Obama Boom theme to create false confidence. It appears their efforts couldn’t change the reality. Debt was what got us into this crisis, incurring more debt would not get us out. Dr. Doom warned everyone a year ago about the weakness of the Obama Boom, and the media dismissed and attacked him. Now reality will kill the Obama Boom lie and it us that will suffer!