David Rosenberg vs. James Paulsen on U.S. Economy

Oct. 6 (Bloomberg) -- David Rosenberg, chief economist at Gluskin Sheff & Associates Inc., and James Paulsen, chief investment strategist at Minneapolis-based Wells Capital Management, talk with Margaret Brennan about the U.S. economy on Bloomberg Television's ``InBusiness.''gov't spending is calculated the WRONG WAY into GDP: it should be a negative term, not a positive term. so if GDP to debt was 100 trillion vs 50 trillion it's really 50 trillion GDP vs 50 trillion debt (100%).



Nobody seems to be pointing out that the US is fighting 3 battles here - (1) market crash caused by corporate criminals in power, still to be arrested, (2) Free-trade agreements that drained the US middle class of Jobs, and allowed US multinationals to profit greatly on cheap Chinese labor, and (3) The credit / housing bubble that compensated US mainstreet for lack of jobs until it exploded!, thanks to inept polices by the Clinton and Bush adminstrations! 2 & 3 still to be FIXED!!
Paulsen has been bullish going back years. He's always been one to see through rose colored glasses. You could turn it around and say that David Rosenberg is a chronic bear. The problem is that David Rosenberg has been right. He predicted the meltdown and bear market and has been dead on about deflation and bonds being a superior investment. Where I think David Rosenberg may end up being wrong is underestimating Ben Bernanke. I think we end up with hyperinflation. Rosenberg is deflation.what is new is to discover that all nations are willing to have a currency-war debasing all major currencies as a direct and unavoidable response to the job-collapses of free-trade. The consumers are all broke because all their jobs are gone and this problem is PERMANENT. IRREVERSIBLE. Global depression is 100% assured at this point.