Tuesday, October 28, 2008

Meet Nouriel Roubini -- Dr. Doom

Times Online features Prof. Nouriel Roubini of New York University--an international economics expert who earned the monicker Dr. Doom in 2006 when he predicted the global economic and financial crisis with uncanny prescience in a speech to the International Monetary Fund. People laughed at him then, but no more. And they are likely to get grimmer as he "fears that the worst is yet to come."
What does Roubini think is going to happen next? Rather worryingly, in London last Thursday he predicted that hundreds of hedge funds will go bust and stock markets may soon have to shut – perhaps for as long as a week – in order to stem the panic selling now sweeping the world...Contacted in Madrid on Friday, Roubini said the world economy was “at a breaking point”. He believes the stock markets are now “essentially in free fall” and “we are reaching the point of sheer panic”.
If you want to stare at the abyss, go to his blog RGE Monitor.


Unknown said...

Whatever the reasons for the continuing weakness of policy, the situation is manifestly not coming under control. Things continue to fall apart. - Paul Krugman, NYT


Deany Bocobo said...

Scarier than a roller coaster ride without brakes! thanks for the link.

Anonymous said...

roller coasters don't have brakes, per se. And, roller coaster rides are supposed to be scary. That is the nature of the ride.

Hedge funds grew out of greed, which is "Not Good" to the market. It creates artificial price valuation or price fluctuation as far as the stock market goes.

I say buy good quality stocks. Financial stocks have been beaten down silly. When the market comes back there is a high probability to make some money.

The Russians close their stock market with no fuss. Hopefully it does not happen in the US or any other democratic countries.

In the meantime, I'll be wary of people promoting Mr. Doom's predictions.


Anonymous said...

off topic, did you see his ad....he is good.



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