I'm Not The Only One Predicting The "Great Obama Recession"

Discussion in 'Economics' started by pspr, Jan 16, 2013.

  1. pspr


    According to a major bank, a pair of noted economists, and one controversial billionaire, 2013 will be a “year of terrible reckoning” for the stock market.

    JPMorgan just released its outlook for the first quarter. Surprisingly, this regularly bullish company has reversed course and revealed an ominous chart that every investor needs to be alerted to.

    As you can clearly see, stocks have retraced the pattern from the last two big market rallies (averaging over 100%), and now face a massive decline in 2013 (of over 50%).

    JPMorgan isn’t alone in its stark predictions.

    Economist and NYU professor Nouriel Roubini has said in recent interviews that there is a chance that an economic “perfect storm” will devastate global markets in 2013. He points to a worsening eurozone crisis, a hard landing for the Chinese economy, and a war in the Middle East that could push oil prices above $200 a barrel.

    Agreeing with Roubini’s worrisome outlook is billionaire Jim Rogers. In a recent interview with Yahoo Finance, Rogers says regarding 2013, “You should be very worried, and you should prepare yourself.”

    Rogers referenced a little-known economic cycle that proves the United States experiences a slowdown every four to six years (and 2013 marks four years since our last slowdown).

    Perhaps most alarming of all are the predictions made by economist Robert Wiedemer.

    In a recent interview for his New York Times best-seller Aftershock, Wiedemer says, “The data is clear, 50% unemployment, a 90% stock market drop, and 100% annual inflation . . . starting in 2013.”

  2. Tsing Tao

    Tsing Tao

    While I certainly do not believe in a rosy future by any stretch of the imagination, that article is peddling a book by an individual who has been preaching the end of the world financially for two years now, saying it will happen in each year, and to buy his book to see how you can prepare.
  3. pspr


    I looked for the word 'Ad' on the page but didn't see one. Especially since they are quoting JP Morgan it seems like legit info.

    But, this is the first time I have seen the Mods move a thread OUT of the P&R to the Economics forum as I was trying to make more of a political statement of where Obama is taking the U.S.
  4. sumfuka


    I don't think J.P. Morgan and legit should be in the same sentence together.
  5. CT10Gov


    You are not really this dense... are you?

    If you believe what the article says, then it seems clear how you might become a billionaire yourself before the year is over.
  6. For a crash, there needs to be a fundamental change in the system from some where, and it needs to be a relative surprise.

    If for some reason short term interest rates raise sharply that is the surprise that would trigger this.
  7. JamesL


    Roubini and Rodgers - the original "Doom and Gloom " couple. Like TT says, they've been calling for this fore MORE than 2 years now.
  8. I'm calling a decline but I don't know if it'll be as catastrophic as some would have you believe.