"Emancipate yourself from mental slavery, none but ourselves can free our mind.” - Bob Marley

Wednesday, October 8, 2008

All Roubini All the Time

This partial screen shot from finance.yahoo.com main page:

Now if only our government would get a clue.

I've been reading Nouriel Roubini for a year or more and he's been talking about the "systemic meltdown" at least that long. Other economists used to call him Doctor Doom. Now they just call him to find out what's next.

He was wrong on one call though: he thought it would take another 6 - 12 months for the big 5 investment banks to disappear.

So the fact that he was wrong on the optimistic side about something is not altogether reassuring.

And now, once more because I just can't resist:



OBloodyHell said...


Haven't seen the numbers yet. Probably still aren't, though we're clearly headed that way.

There ARE other issues possible, in case you did not note in your zeal to do a happy dance over the (still incorrect) notion that we are in a RECESSION, which is not one-to-one the same thing as a systemic issue like the one we are in.

A recession is a measure of business-as-usual being on the "poorer side of usual".

I dunno about the place you're living in, bob, but this current situation?

"Decidedly Not Usual"


But keep enjoying your happy dance, by all means... no matter how inaccurate it STILL is.

bobn said...

Nice to know we can always count on you, OBH.

We're in the middle of the most amazing global meltdown since the Great Depression, but you're still a recession denialist.

Fine. Metaphor: Nobody is shooting at us - they're just dropping atom bombs. All is well - pay no attention to the mushroom cloud behind the curtain!

About Me

I'm a 57 year old geek. I voted Democratic for 20 years, because I disliked the Republicans more. But now, nobody really speaks for me. I'm for Guns, for more correct government regulation of the financial world, against illegal immigration and amnesty. (in 2008 I ended up voting Republican - too many questions about Obama, and voting against anybody who voted for TARP 1.) In 2010 I voted a stright republican ticket because the Democrats have completely lost their minds.