Topic: Great Recession

The volatility in U.S. markets is attributed to economic weakness in China and uncertainty regarding Federal Reserve interest rate hikes. The discussion highlights China's lack of financial transparency and compares the current "Great Recession" psyche to the previous dot-com and housing market collapses.

White House emails have begun capitalizing "Great Recession" as a formal title. The hosts speculate that recent Secret Service security gaps might be orchestrated to allow President Obama to leave office early as a "martyr" rather than face a legacy of perceived failure. They also discuss the re-emergence of race as a central theme in political discourse.

President Obama is noted for using the term "The Great Recession" and frequently referencing his "pen" to sign legislation. The hosts compare his use of executive orders to that of George W. Bush, noting a significant increase in their frequency.

IMF Chief Economist Olivier Blanchard predicts the global economic crisis will last until at least 2018, aligning with John C. Dvorak's long-wave cycle theories. Conversely, IMF Managing Director Christine Lagarde claims the U.S. housing market has "bottomed up" and is showing signs of recovery. Dvorak dismisses Lagarde's optimism, arguing that housing cycles are distinct from broader economic health and that the "Great Recession" meme is being used to mask structural failures.

MarketWatch columnist Paul B. Farrell warns investors of impending "economic anarchy" resulting from a global debt time bomb. The discussion suggests that the "Great Recession" of 2008-2009 is merely a precursor to a total collapse predicted for 2013. Recommendations for survival include investing in gold and weapons as the middle class faces a transition to food stamps.