Now i am not saying that everything is rosy,but roubini is a friggin permabear ,eventually he gets stuff right just like a broken clock.
World economy will ebb and flow based on the confidence of its people,sprinkle some hope and things move,what is screwy is that in this day and age,all parts of the world can see how green the grass is or isnt on the other side of the fence.
Everybody wants what others have,except too many think they are entitled to it ,instead of entitled in the oppourtunity to earn it.
Many people have been screwed lately because of jobs becoming obsolete due to technology or to companies going overseas,that has happened for centuries,we adapt,nobody can cope with shit anymore,life isnt fair,never was,alot better than it was,todays safety nets provide healthcare,food,shelter,etc..and still its never enough,so now we have massive social welfare states in the industrialized west,being bled dry by the 1/3( and 1/2 if we count municipal employess throughout nation) of the population relying on the others to provide for them.
So now the half of europe and US that are paying the bills at home are also paying for all the stuff made in ASIA and oil from middle east,very soon the backs of the taxed classes will be broken,healthcare costs and pensions for municpal employess are bankrupting the west.
They want the econmoy to pick up? Stop raping all productivity with taxes,success is punished and anything other than success is coddled because god forbid anybody be responsible for their own situation.
We are stuck in a media driven confidence battle,negative this,positive that...just to keep f'ing with our minds,knowing full well that the people out there putting in a full day are too damn busy to pay full attention to the BS.
They want to fix unemployment? Reduce federal,state and local civil service compensation to comparable private sector benefits,they could employ twice as many people for the same money.
In a nutshell its all a confidence game, if the masses are confident,the economy booms,if people are fearfull the economy contracts, govt need to stop trying full blown socialism and just maintain a country that provides everyone an equal oppourtunity,not take every oppourtunity to try an create equality thru taxation,regulation news manipulation.
The economy is what we make of it,guys like roubini are leeches that feed on negativity and try to create self fullfilling prophecies to suit there own personal agenda,imo
