prediction of the last global recession

I'm no economist, but I certainly saw the recession coming. It's been obvious for years that the massive amount of personal debt in our society was going to cause problems at some point. What I didn't anticipate was the crazy levels of government borrowing that have come to light, as well as some of the crazier practices in the banking industry. Possibly the biggest mistake governments made was when they started bailing out failing banks - that's no way to encourage businesses to behave in a responsible way.

NOthing can be predicted accurately. Nobody is perfect as well. Even there's someone who can predict it accurately, nobody will believe it because it means something bad for the entire world and the economy. Let's say someone predicted that there will be a global recession in 2013, how many of us will be spending our money freely from now to 2013? NOt much right? Because everybody will be saving up for 2013, and with that, recession will come earlier than expected. IN the end, prediction ends up being wrong and sends panic into everybody.

I knew the US was going to have a severe economic downturn because of the real estate bubble. Tens of thousands of loans were written that depended on the economy staying strong, and housing to keep going up. As thousands of people became unemployed, it was easy to see that the bubble would pop. And despite what I hear on the news about things getting better, I can't believe for a second that things will do anything but get worse. I guess that means I just predicted the next recession...2011 or 2012.

doctordidi when people plunge into debt knowing they are not going to be able to pay huge mortgages something is going to shoot our economy to hell. And the mortgagers who sold them the deal are also to blame as they could see these people were not making the kind of money that could afford huge mortgages and yet they went ahead and let them have the mortgage and the house. spend more than you make in personal affairs leads to huge problems financially and when a country's government does that it makes for the start of a huge global recession no need for predictions just watch how everyone was spending way more than they could ever afford. there are limits to almost anything specially money.

I don't think that any of the financial experts in the world were able to predict the fact that the recession that is going on right now was going to be of the magnitude and the duration that it has been. However, I do think that they were able to tell that there was going to be recession that would be going on because of different things that had been happening in the global economic climate. I don't however, think that they know when it will end.

You mean could they had predicted the last global recession we just experienced? Honestly I feel they knew that something was coming but what it was and how it was gonna affect all of us was vague even to the experts,so they just did nothing , going about only in their daily routine, honestly I believe that some of this so called gurus or financial experts were instrumental in bringing about the crisis, being in the know they could easily manipulate stock or market values of just about anything, even if somebody could predict a coming crisis, I think it would be totally useless to avert it unless people learn to control their greed first.