Wednesday, August 17, 2011

Economists, Experts: US Is Bankrupt, Second Severe Recession Imminent

Steve Watson

Fiscal rot set in years ago”, Congress and White House are doing nothing to prevent financial Armageddon.......

A number of economists, investors and financial experts have weighed in on the US debt crisis today, following Friday’s S&P downgrade, warning that economic meltdown is close. Renowned Economist Nouriel Roubini, who predicted the 2008 crash and has been predicting a double dip recession for some time, noted in the Financial Times today that the recent media driven impression of a short term “recovery” was a “delusion that has been dashed.”........

“It’s interesting that when we were working on raising the debt limit, over my objection, they can say ‘well if you don’t raise the debt limit, we’re going to downgrade you’, so we raise the debt limit and they downgrade anyway.” The Congressman added.

Warning of a coming inflationary dollar crisis, Paul stated “The Congress is making even bigger mistakes because they keep talking about slashing and cutting and all this, but there have been no suggestions of cutting anything at all.”


  1. What? The experts and economists are just getting around telling us that? And they called themselves experts.

  2. they'll cut here/there, raise taxes/fee's, maybe even make some new taxes..vat or transaction..and spend all that and beyond. still a little left to squeeze..look at the euro countries "austerity", they seem to miss spending targets-still, and their economy's and standard of living falling down as new taxes and fee's set in. was cold last year in the UK..people struggled to heat their homes...


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