David Rosenberg: U.S. recession as a Virtual Certainty"

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-------- Original Message --------

Subject:	David Rosenberg: "I have already pegged a U.S. recession as a virtual certainty"
Date:	Wed, 3 Aug 2011 16:59:14 -0700
From:	Jas Jain

David Rosenberg: "I have already pegged a U.S. recession as a virtual certainty."

David Rosenberg; August 3, 2011:

"It is evident that we will be going into another recession with the levels of output, employment and income all lower now than they were prior to the last contraction phase.

"I have already pegged a U.S. recession as a virtual certainty."

 

When we look back few years from now, with the global economy in undeniable Greater Depression, the beginning of the depression in the US would be marked at either 2001, or 2008. We have fewer people employed today than we had in 2001Q1. There never was a GW Bush recovery; it was an artificial boost as a result of permitting mortgage fraud. What mortgage fraud gave it took back all that and more. My conclusion that Greenspan, GW Bush and Bernanke were the real culprits in the Crisis of 2008 would become widely accepted.

Jas

Pacific West Capital Group

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