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.
Right on the button, Dave.
Deciding to spend another 1.2 Trillion smackers yesterday on T-Bonds and mortgage backed securities was the biggest Hail Mary Pass I’ve ever witnessed.
If Mr. Bernanke knows when the recession is going to end, I’m Mr. Greenjeans.
Good point about Bernanke’s prediction.
Three days after “60 Minutes” he creates $1.15 trillion to prop up the bid for Treasury debt.
Even more bizarre was the reaction on stock prices and interest rates.
The Ten Year yield dropped from 3.00% to 2.25% at exactly the same moment the USDollar dropped 4% against the Euro.
What the.....!
Our currency loses value, but interest rates crash?
And, even though USA government spending may now pass 30% of GDP, the private sector responded instantly, buying equities, and pushing the Dow into a 250 point turnaround.
Never thought I'd turn into a gold bug, but really, where does a rational investor send his money these days?