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Pimco's El-Erian finds it "terrifying" there is a discussion about recession with unemployment...

Pimco's El-Erian finds it "terrifying" there is a discussion about recession with unemployment already high, 25% of homeowners underwater, government deficits of 9% of GDP, and interest rates at zero. "The big concern is ... being tipped over by Europe ... things are getting worse, not better."
Comments (3)
  • davidbdc
    , contributor
    Comments (3183) | Send Message
     
    He should be terrified that our government continues to screw the average man while propping up the triumvirate of the bureaucrats, politiicans, and financial elite. And for the rest of us things are indeed getting worse.

     

    There seems to be no willingness to shrink government and return personal freedoms. Until that happens there will be no large changes in our society.
    22 Nov 2011, 02:50 PM Reply Like
  • Rickthegeek
    , contributor
    Comments (118) | Send Message
     
    Fear of recession? I think in 10 years when we look back, we are already in one now. And, next year, we are heading for a depression. Europe is already in a recession and their depression is right around the corner, now.

     

    Depressions are marked by things like civil unrest, protests, unemployment (there is nothing worse than a person wanting to work, yet can't find anything). Currency devaluation and a broke Government. The next thing to hit is riots (we have seen that in Europe already), martial law and crime sprees of the likes we have never seen.

     

    In case you missed it, these things are happening right here in America. It is happening in towns, cities all across America, right now. Don't dismiss it, like it is not happening, it is.

     

    The real change that is going to take place is when we realize our government can not possibly pay and take care of its own citizens. Why? Because our government is Bankrupt!

     

    The next step will be to throw the bums out! Example: We are finding out our leaders, yes the ones we have elected to office with our vote have participated in insider trading. They were shorting stocks well before the public knew the information. Let's think about this, this is illegal. The people involved in this (Ben Bernake) for one, should be immediately terminated. There absolutely must be an investigation on this and a hearing. He is guilty as sin.

     

    If this is what our leaders are up to, how can they be trusted to make the right decisions for Americans? They can't. Therefore, they must be thrown out.
    22 Nov 2011, 03:26 PM Reply Like
  • john aubrey
    , contributor
    Comments (92) | Send Message
     
    "But for the present the storm approaches its thunderhead, and it is apparent that the boat drifts ever closer to shore. So the blind will lead the blind, and the deaf shout warnings to one another until their voices are lost."
    Norman Mailer, 'Barbary Shore', 1951
    22 Nov 2011, 03:29 PM Reply Like
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