Dr Doom...and More

Dr. Doom AKA Mark Faber says that there's a 100% chance of global recession. The EU is already in recession, the US economy is decelerating and QE won't help. Dr Doom says the recession will rear it's ugly head over the next 6-12 months. In the meantime, gasoline prices are up 9% YOY and corn/wheat prices are expected to rise 50% over the next year. There will be suffering.

An article in the NYT says americans 55-64 suffered the most in the financial crisis as household income declined 10%. Huh? My household income declined 37%. Add two more mouths to feed and I'm maxed out.