Experts warn of 'perfect storm' for global economy

Experts warn of 'perfect storm' for global economy

By DAN PERRY | Associated Press – Fri, Sep 7, 2011
CERNOBBIO, Italy
(AP) — Experts and leaders gathered in Italy may disagree on the cure,
but the malady seems clear: the world economy faces a "perfect storm" of
risks that include prolonged crisis in a structurally flawed Europe, political paralysis pushing America off a "fiscal cliff,"
a slowdown in the emerging economies drying up the last of global
growth, and the spectacularly destabilizing prospect of war over Iran's nuclear program.
A
world of such unpredictable peril is also one in which jitters suppress
the appetite for private and corporate risk, yielding meager investment
and low consumption and prolonging the woes that snuck up on a booming
world in the summer of 2007 as a "credit crunch", mushrooming a year
later into the Great Recession.
Many
attendees at the annual Ambrosetti Forum at Lake Como on Friday fretted
about mounting U.S. debt and the Europe's inability to balance
electorates' apparent insistence on national sovereignty with the need
for regional coherence to salvage the teetering euro.
But economist Nouriel Roubini predicted years of gloom almost regardless of what is decided...


Forget investing in Gold and Silver - Transfer your ALL your money to the local Credit Union. We need a STRONG  localized economy to save the USA from this looming crisis.

Here is a video about the coming depression: