I think he said 10x worse than the economic problem of 2008. Either way Mr. Rosenberg has always taken a much more negative view of the future than most other economists. Still, I like some of his reasoning, though. Clearly nobody knows what the recovery looks like, in my view though there will be a recovery. Not back to the same old world and some areas not even similar, but a recovery, nevertheless. Mr. Rosenberg also recommends buying gold, and you know my view on that. Look at: ARMSTRONG CRASH AND BURN (below).