11 Awesome Insights From Wall Street’s Sharpest Minds

By admin on July 22, 2012

Earnings season kicked into high gear this week and most of the bellwethers the Street tracks beat on the bottom line.

But sluggish revenue and weak demand weighed on many the companies, with Google, Intel, and Microsoft all missing expectations.

Wall Street’s top minds have weighed in on the difficulties plaguing global growth, including the growing crop crisis in the U.S. and its impact on the agriculture industry.

PETER SCHIFF: Our Children May Have To Lead A Violent Revolution To Bring Back Capitalism

“When we get the real crash and everything implodes, and it’s really Armageddon style collapse, my fear (again) is that capitalism and free markets take the blame for problems that were created by government … We might have to have a violent revolution years in the future or maybe our children or grandchildren will have to fight for their freedom…”

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GARY SHILLING: 25 Out Of The Last 27 Times Retail Sales Collapsed Like This We Were In A Recession

“You look at retail sales there were negative for three consecutive months, April, May, June. That’s happened only 27 times there were first reported in 1947 and in 25 of the 27 it was in a recession or within three months of a recession.”

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NOURIEL ROUBINI: If Everything Goes Wrong, The Fed Will Start Buying Stocks

Unconventional policy could include “targeting the 10-year Treasury at 1 percent, doing credit easing rather than quantitative easing, targeting nominal GDP, price-level targeting and lots of stuff that is more esoteric,” Roubini says. “Eventually if everything goes wrong, they can even buy equities.”

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See the rest of the story at Business Insider

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