xmlns:og='http://ogp.me/ns#'. The Digibandit: "Recession" or "Depression" or "Global Shithole?"

Saturday, February 28, 2009

"Recession" or "Depression" or "Global Shithole?"

Their bullshit forecasts change weekly!

Mark Zandi, chief economist of Moody’s Economy.com, now places the odds of “a mild depression” at 25 percent, up from 15 percent three months ago. In that view, the unemployment rate would reach 10.5 percent by the end of 2011 — up from 7.6 percent at the end of January — average home prices would fall 20 percent on top of the 27 percent they have plunged already, and losses in the financial system would more than triple, to $3.7 trillion.
Allen Sinai, chief global economist at the research firm Decision Economics, sees a 20 percent chance of “a depressionlike possibility,” up from 15 percent a week ago.

But - Dr Moishe Pipick -head economist for the World Financial Forum - in Berne ,Switzerland annouinced today:

"We are in a "Global Shithole" - our research shows that eighty nine percent of the global population -and seventy two percent of the people living in the largest industrial nations (make that seventy three percent in the USA) - strongly feel - they are up to their shoulders in a "Shithole."

Dr. Pipick continued: "We at the Forum strongly recommend that economists stop playing pussy with the words - let's call a spade a spade (or a shovel ha ha) - wer'e in a "Global Shithole" - and right now i'd say wer'e up to our chests;

"The only question is - whether the "Shit" will cover our eyes and bury us completely?"

He concluded; "We can't effectively deal with all the financial shit unless we closely monitor the depth at which we are buried in it:

"So from now on all our forecasts and analysis and reporting about "The Global Shithole" - should begin with an "In -depth Report":

"For example - 'As of today at three pm we are projecting that by the end of March - We will be in " A Global Shithole" - Up to our necks.'