Nouriel Roubini: Poor Economic Data Suggests A Double-Dip Recession Is Coming

This must come as a major surprise to the White House. The country is bankrupt and there is no recovery. Obamanomics is a failure. 30% of all children are at the poverty level in Chicago, half the schools in Kansas city will be closed, CA is bankrupt, Fannie Mae which now does 95% of all home loans hold a portfolio of $2 trillion in toxic loans and $18 billion in request for additionla funds. This goes on and on, GM will eat $6 billion in tax money, greece is falling apart and the UK is judt starting to unwravel. Buthere is the bright spot - the banker and the corportaions - thepeople who started all this have been bailedout by tothe tune of $700 billion and they have given themselves $200 billionin bonuses (2009) with our money. This is the failure of Obama - to understand that a manufactured crisis which did not exist has turned into a real nighmare because of his personal efforts. He advocated more payments and more bonuses, has made no reorganization, no new laws, imposed no penalities and called the people who just took your house or cause your layoff his savvy friends.
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