E-Mail to a Financial Advisor
Roubini may be right and we’re all screwed, but I’m starting to pick up a recurring theme from him and some of the other commentary John Mauldin has been sending out. It goes something like this:
Europe is bankrupt, developing economies are flat-lining, and China may shut down entirely. Banks don’t have the money to lend, and the shadow banking system can’t help because it’s dead. The East Coast will sink into the Atlantic, the moon will explode, and everybody’s toilets will clog up, so unemployment could reach 10.1% and growth is sure to be sluggish. If you buy bonds, be selective.
I think they should make up their minds whether this is the end of the world or a “U” shaped recession because it probably isn’t both.