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News Link • Depression

Recession Will Be 'Full-Blown Depression': Strategist

• CNBC (HT Newspundit)

Wall Street is making money, while consumers aren't, Harajchi told CNBC.

 "We have seen the G20 coming out with cross border capital injections of $5 trillion this year… But a lot of this money hasn't really come down to Main Street," he said.


 "When it comes down to corporate America, corporate Europe or even in Asia, in Japan, we are not seeing Main Street making any money," he said. "Consumers are losing their jobs. They are struggling with their mortgages, with their credit. And we are just seeing this continuing."

 The $5 trillion injection is "monetary expansion," according to Harajchi. "At some point, which we believe to be 2010/11,

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