The global economy still faces turmoil as government try to figure out how to move out of fiscal rescue packages, which could lead to another two downturns, Deutsche Bank Chief Economist Norbert Walter said Thursday.
In addition, nervousness on the part of major dollar holders could pressure the greenback and lead to a very worrying 2010, Walter said.
Norbert said recently in research notes “the world is in trouble.”
“I believe that the rescue packages brought on have been so costly for so many governments that the exit from this fiscal policy will be very painful, very painful indeed,” he said. “Some of us are already talking about a W-shaped recovery. I’d probably talk about a triple-U-shaped recovery because there are so many stumbling blocks here to get out of this.”
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“I’m deeply worried about the worries of those investors who have invested a lot, really a lot into the dollar” like the Chinese, Japanese, Arabs and Russians, he said.
“If they have second thoughts about the quality of this currency then the dollar is bound to weaken” which means higher long-term interest rates for a country where government debt is approaching 100 percent of gross domestic product, he said.
If that happens, “2010 could be a worrisome year for all of us,” he said.
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This Glenn Beck guy might be right.
ReplyDeleteI'm thinking an "L" shaped "recovery".
ReplyDeleteShe was looking kind of dumb
ReplyDeletewith her finger and her thumb
in the shape of an L on her forehead
I'm thinking a question mark shaped recovery with the upside just about over lol
ReplyDeleteWe all wish it won't end that way, but unfortunately it will be , the Jewish bankers destroy this beautiful country of the Braves .
ReplyDeleteThe biggest Problem in All this Mess is The Use of USURY!
Good luck to Everyone, save your cash and buy Gold and Silver.
I Hope GOD, will save this country, despite all the miseries they have afflicted to others countries, destroy their infrastructure, their life, their economy, etc... placed Puppet governments.
ReplyDeleteFaten your seats belts, we are going thru depression, oil will go up to $ 100.00 , gold up,
ReplyDeletedollar way down soon !
Buy Euros!, Swiss Francs
Watch again the real state residential and specially the commercial , it is going to hurt !
Yeah, the King of the Jews who is nothing like the Jews we all know.........Jews only by name
ReplyDeleteYou can not eat gold or silver. Better to buy as much food as you can before 2012. The US will not look like it is today, Constitution,gone,money , no good, food riots, I hate to think about. Medicine short supply, insulin users, bye, elect. in short supply. etc,etc,etc. be prepared for the worst and hope for the best.
ReplyDelete