Economists peddling dire warnings that the world's number one economy is on the brink of collapse, amid high rates of unemployment and a spiraling public deficit, are flourishing...
The guru of this doomsday line of thinking may be economist Nouriel Roubini, thrust into the forefront after predicting the chaos wrought by the subprime mortgage crisis and the collapse of the housing bubble.
"The US has run out of bullets," Roubini told an economic forum in Italy earlier this month. "Any shock at this point can tip you back into recession."
But other economists, who have so far stayed out of the media limelight, are also proselytizing nightmarish visions of the future.
Boston University professor Laurence Kotlikoff, who warned as far back as the 1980s of the dangers of a public deficit, lent credence to such dark predictions in an International Monetary Fund publication last week.-Doomsday warnings of US apocalypse gain ground
Monday, September 13, 2010
Warnings of Doomsday
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This has to be the most religious topic you post about: dire warnings from economic priests of hellscapes wrought with food riots and unmitigated hatred for our public officials.
ReplyDeleteMaybe it's not such a fucking horrible thing. This country could stand to riot for food; it might solve the obesity problem. It would also be great if this were a spark to ignite political change (of the real variety, not the "Change" brand, brought you to by ObamaCo, a subsidiary of Democrat Inc.).