World Bank president Robert Zoellick warns untamed U.S. unemployment could trigger loan defaults...


World Bank president Robert Zoellick warns untamed U.S. unemployment could trigger loan defaults and drag on consumption, hobbling a nascent recovery. "You're going to have problems with delinquencies of credit card loans, consumer loans, people won't be able to pay their mortgages," he told reporters in Singapore. While Zoellick concedes government spending will fuel growth through the middle of 2010, he's worried what happens afterward.

Comments (6)
  • Tony Petroski
    , contributor
    Comments (6356) | Send Message
     
    So are we all.

     

    It's this kind of insight that gets you all the way up to the World Bank sinecure?
    11 Nov 2009, 08:22 AM Reply Like
  • DW Reid
    , contributor
    Comments (126) | Send Message
     
    I don't understand why all these people facing foreclosure don't just buy stocks. It's a government-controlled way to increase your income.
    11 Nov 2009, 08:25 AM Reply Like
  • davidbdc
    , contributor
    Comments (3194) | Send Message
     
    Afterwards we storm the gate!!!

     

    Only problem is probably about half the people will sit around and want the other half to do all the storming for them.
    11 Nov 2009, 08:25 AM Reply Like
  • youngman442002
    , contributor
    Comments (5123) | Send Message
     
    "he's worried what happens afterward"

     

    nothing will happen ..the government will keep on extending the programs ..adding to them....until the bubble pops...then all hell breaks loose...
    11 Nov 2009, 08:33 AM Reply Like
  • Archman Investor
    , contributor
    Comments (3207) | Send Message
     
    <<World Bank president Robert Zoellick warns untamed U.S. unemployment could trigger loan defaults and drag on consumption, hobbling a nascent recovery. "You're going to have problems with delinquencies of credit card loans, consumer loans, people won't be able to pay their mortgages," he told reporters in Singapore. While Zoellick concedes government spending will fuel growth through the middle of 2010, he's worried what happens afterward.>>

     

    Ya think? I might as well name myself to the post of World Bank President. I could have told you that months ago.

     

    But you know what? What does it matter? Our dumbed down population is so easily manipulated that by the time they realize that have been had by the powers that be, it will be way to late to do anything about it.

     

    Just keep the facts in mind:
    The stock market is going up for one reason and one reason alone: The FED and treasury are giving money away and the investment banks and money center banks are buying stocks. Period.
    90% of companies have "beaten" earnings due to cost cutting and head count reductions, and revenues have been going down. Period.
    Asset gatherers, the financial media, et al, will continue to outright lie for they face no fear of retribution nor legal ramifications. Period.

     

    Keep enjoying this stock market rally, but keep in mind "why" it is going up in the face of record 20% real unemployment and a US consumer still in debt to the tune of 120% of income. Period.

     

    Lastly if you are only "now" starting to buy stocks you better be only trading them and not following that idiot Cramer, who has resorted to staging his shows with phony callers claiming that he has helped them "Get back to even". It is all a lie.
    11 Nov 2009, 08:45 AM Reply Like
  • nightfly
    , contributor
    Comments (1015) | Send Message
     
    What's going to pop the bubble(s)?

     

    Whats' going to stop the money printing?

     

    Nothing. Our governments can do that indefinately.
    11 Nov 2009, 12:07 PM Reply Like
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