Posted on 05/21/2009 8:58:08 PM PDT by TigerLikesRooster
Prophet Motive
Is Nouriel Roubini lucky or just good?
Julia Ioffe, The New Republic Published: Wednesday, June 03, 2009
This year, Nouriel Roubini, the economist known to the general public as Dr. Doom, Prophet of the Financial Apocalypse, spent the early hours of Mardi Gras on the floor of the Frankfurt Stock Exchange. It was only 11 a.m., but the party was rollicking. Traders careened around the floor, hooting and honking, dressed as dragons and devils and convicts. Rock music roared overhead, and no one seemed to care that, by the bye, the market had tanked. Tickled, Roubini registered the flicker of amusement on his Twitter thread: "Nouriel is at the Frankfurt Stock Exchange," he wrote, "where everyone is dressed in Mardi Gras costumes even if the market is down 2.5%."
Roubini has always been a bon vivant--a trait that has mesmerized the tabloids ever since Facebook photos surfaced of him, the professional pessimist, partying ... with women. But, today, there was no time to celebrate. First, he had to go see Axel Weber, head of the nearby German Central Bank, to discuss "how the German taxpayer is going to have to bail out the lazy Italians and the lazy Greeks," who were up to their eyebrows in debt. Then there was a panel discussion with finance gurus Robert Merton and Stephen Ross; there were clients to counsel, a keynote address to deliver, and e-mails, hundreds of e-mails, slowly piling up in the BlackBerry on his belt. By the time he responded to the ones worth responding to and updated his blog, it was nearing 4 a.m., and he only had time to sneak in a few hours of sleep before another day of flights, meetings, conferences, and TV appearances.
(Excerpt) Read more at tnr.com ...
Ping!
He’s good. One of the few who correctly called the bursting bubble.
Whatever happened to FReeper Hydroshock. That guy turned me on to Roubini and all the people reminded us that nothing rises forever and that these trillions of derivatives and swaps were going to implode one day. That guy saved me some hurting.
If you like Mr. Roubini you should check out Marc Faber. I would also recommend Bill Fleckenstein’s book Greenspan’s Bubbles. It is a relatively short but very relevant read.
His last post was on November 28, 2007.
Very unusual since many around here were discounting problems exist. I remember one who keep ringing the bell and everyone laughed, saying “Everything is fine here”.
Yes, a Texas freeper (he had texas in his name) was warning everyone that the real estate bubble was dangerous. I do remember him.
Peter Schiff, Ron Paul, the Mises Institute guys, the gold bugs, lots of people were sounding the alarm, but the MSM dutifully ignored them all, or laughed at them.
Thanks I will check it out.
ex-Texan
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