Profound Quotes

"Neither is it that US foreign policy is cruel because American leaders are cruel. It's that our leaders are cruel because only those willing to be inordinately cruel and remorseless can hold positions of leadership in the foreign policy establishment; it might as well be written into the job description. People capable of expressing a full human measure of compassion and empathy toward faraway powerless strangers - (let alone American soldiers - do not become president of the United States, or vice president, or secretary of state, or national security adviser or secretary of the treasury. Nor do they want to." From 'Rogue State: A Guide to the World's Only Superpower' by William Blum

From "9-11, Six Years Later": "If one looks at the credentials of skeptics compared to the credentials of defenders of the official line, it is impossible to dismiss skeptics as kooks. There are many people with strong imaginations on the Internet, but serious skeptics stick to known facts, known violations of standard procedures and the laws of physics. The vast majority of the people who call skeptics "kooks" are themselves ignorant of physics and have little comprehension of the improbability that such an attack could succeed without either the complicity or complete failure of government agencies. " Paul Craig Roberts

"Cowardice asks the question, 'Is it safe?' Expediency asks the question, 'Is it politic?' Vanity asks the question, 'Is it popular? But, conscience asks the question, 'Is it right?' And there comes a time when one must take a position that is neither safe, nor politic, nor popular but one must take it because one's conscience tells one that it is right." Martin Luther King, Jr.

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Roubini Sees US Economy Facing ‘Death by a Thousand Cuts’

Roubini Sees US Economy Facing ‘Death by a Thousand Cuts’

By editor|Sep 14, 2009, 10:11 AM|Author’s Website

The US economy faces more tough times ahead, economist Nouriel Roubini told CNBC this morning. Repeating his prediction on the possibility of a double-dip recession and at best a slow growth U-shape type recovery, Roubini said in a live interview that non-government bonds continue to face pressure, the securitization market is all but dead, and that the credit markets are still frozen. He also said the housing prices are likely to fall another 12% in the next year. “The gap between supply and demand is so huge we could stop producing new homes for a year to get rid of all the inventory,” he said.

Directing his attention toward the economy Roubini said “It’s going to be death by a thousand cuts….the financial system is severely damaged, and it’s not just the banks,” he said. Roubini also pointed out the current situation with the commercial real estate and talked about how that dynamic could affect the economy and the broader market.

According to Roubini more than 1,000 financial institutions could fail before all is said and done.

Roubini Sees US Economy Facing ‘Death by a Thousand Cuts’.

September 15th, 2009 | Category: Uncategorized | Leave a comment |

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