Roubini, a Clinton admin economist, is making good money as a consultant, and hates it when the market recovers since he is the gloomster of the hour.
If you think Roubini is predicting doom, what do you think the Fed’s actions of yesterday are saying?
Especially after Bernanke was on “60 Minutes” only this past weekend, saying that the recession would be over by late this year?
You might not like it, but Roubini has been right. If you go back and read his predictions since 2006, you’ll see that things have gotten worse than what he has predicted at ever step along the way.
Yes, he’s making good money as a consultant and speaker. The reason why is because he has proven himself to be more right than most prognosticators and economists - he’s not entirely correct, but he’s been closer to the mark than others. In business, people will pay handsomely for that kind of skill.
I’d take Roubini for SecTreas over Turbotax Timmy, or Hank Paulson, in a split second. Absolutely no question about it.