This global recession will turn into a "full-blown depression," Nicu Harajchi, CEO of N1 Asset Management, said Friday, adding that global stimulus hasn't come down to Main Street.
Wall Street is making money, while consumers aren't, Harajchi told CNBC.
"We have seen the G20 coming out with cross border capital injections of $5 trillion this year… But a lot of this money hasn't really come down to Main Street," he said.
"When it comes down to corporate America, corporate Europe or even in Asia, in Japan, we are not seeing Main Street making any money," he said. "Consumers are losing their jobs. They are struggling with their mortgages, with their credit. And we are just seeing this continuing."
The $5 trillion injection is "monetary expansion," according to Harajchi. "At some point, which we believe to be 2010/11, some of the central banks are going to recall some of that money and that will turn from monetary expansion to monetary contraction."
He also said he doesn't see the corporates or the public "being able to pay back that debt."
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The Wall St bankers have usurped the Federal government and the media. They control it all. We are toast. Our only hope now is that the parasites (the Zionist Global Bankers) will let the host (us) continue at a standard of living above a sewer rat.
ReplyDeleteGall Street
ReplyDeletewith the Audacity of Hope
and Chump Change for the huddled masses
your tired
and poor
Send us
Street paved with Goldman's Sacks
ransacking Barbers , Reek
unwashed masses shorn
Pillaging Rome , a second coming of sorts
No retorts allowed
Hookers and Blow
on the not so down low
Money for nothing and your Chicks for free
Empty TV generation
watch Kubricks Landing
The Shining forth of the lamp of Liberty
from the burden of possesions
or physical needs
No recess , schools out for summer
We can't even think of a word that rhymes
with Crimes of such magnitude