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According to Marc Faber, the author of the Gloom, Boom, and Doom Report, a global recession is all but a certainty later this year or in early 2013.
When he was asked what sort of odds he put on a global recession happening, the economist famous for his ominous predictions quickly answered: “100%.”
Faber’s pessimism during his recent appearance on CNBC wasn’t surprising for a man whose nickname is “Doctor Doom.”
What was surprising was his level of certainty that a global recession was coming.
Faber stated that there is a “meaningful slowdown in India and China” that many investors are missing due to the media’s focus on Greece and Spain.
This is just a highlight, but essentially what the article focuses on. But this other guy named Robert Wiedemer did what Marc Faber couldn’t: He accurately predicted the economic collapse that almost sunk the United States.
In 2006, Wiedemer and a team of economists foresaw the coming collapse of the U.S. housing market, equity markets, private debt, and consumer spending, and published their findings in the book America’s Bubble Economy.
But Wiedemer’s outlook for the U.S. economy today makes “Doctor Doom” sound like Mr. Rogers.
Where Faber sees a global recession, Wiedemer sees much more widespread economic destruction.
So what do you ladies think??
Answer by BrawnwynII at 10:54 PM on Jul. 6, 2012
Yeah, I thought we already were too. I mean, a lot of other industrialized nations are even worse than the US right now.
Answer by 3libras at 11:18 PM on Jul. 6, 2012
Yep, I agree with the other moms on this one. I'd like to know what meets their definition of a "recession"? If this isn't it, we are def. standing there looking down on it!
Answer by mrsmom110 at 7:19 AM on Jul. 7, 2012
Answer by katiemomNY at 2:09 PM on Jul. 7, 2012
Answer by tinamatt at 2:49 PM on Jul. 7, 2012
Answer by yourspecialkid at 10:19 PM on Jul. 7, 2012