YogaNate79 (December 31, 1969 at 5:59 pm)

The last 20 years, globalization has been gaining. The USA benefited massively from these trends. Its enjoyed unusually robust growth, low unemployment and inflation, and received billions of dollars in investment. These aren't signs of economic collapse. Companies have entered new countries and industries with success, using global supply chains and technology in the vanguard of efficiency. Exports, manufacturing and services have boomed. The USA isn't declining, the world is just catching up.

ubornthick (December 31, 1969 at 5:59 pm)

Joyriser,i hope you enjoy your bread and chips

Joyriser (December 31, 1969 at 5:59 pm)

1OO% certainty of depression!!!!Great we will get a Thirties Revival!!A long overlooked decade of hardship and misery.I hope that pawn shop will take my Wii for bread and soup!I can use my credit card to spread dripping onto the bread!

xxxaabbccxxx (December 31, 1969 at 5:59 pm)

recession! o yeah, LETS go shopping in america!

bigphilly17 (December 31, 1969 at 5:59 pm)

When will the world finally come to the realization that the Austrian Economists were right all along!?!?!

mn8aol (December 31, 1969 at 5:59 pm)

Is supply side economics working for you?

Magnulus76 (December 31, 1969 at 5:59 pm)

Roubini has a good analysis. The credit crunch is real and it will trickle down to every part. The burnt upper-middle class is going to find no money to play with, and it will trickle down to the middle class and lower class. Unemployment will be the result. The post 2001 recovery was largely a sham and not based on good fundamentals. You can lay it all at the feet of Allen Greenspan, who bent over backwards to shield his buddy George Bush from a bad economy in the 2004 elections.

billyguns2 (December 31, 1969 at 5:59 pm)

Buy gold.

gizmosells (December 31, 1969 at 5:59 pm)

Recession is just minor market correction, and it means higher unemployment rate, and lower wage growth, and companies trying to clear useless inventory. Recession help the economy at times to correct excess, but likely 2% growth for 2008.

Zhuangyao (December 31, 1969 at 5:59 pm)

he is wrong. there is a 100% chance of recession by x'mas and 100% chance of depression. That is defarto, for sure.