Friday, October 16, 2009

Recession Will Be 'Full-Blown Depression': Strategist

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."


  1. 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.

  2. Gall Street
    with 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


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