Saturday, December 20, 2008

Nuriel Roubini, aka Dr. Doom

From Power 2009: Economist Nuriel Roubini, aka Dr. Doom | Newsweek The Global Elite |
Roubini says he takes no pleasure from the current economic hardship. Still, he's not saying he'd prefer to have been wrong. 'You're glad in the sense that, if you're intellectually honest, you're found out to be right, [even if] you don't go around and gloat,' he says. Despite his prescience, he's suffered just like the rest of us: he's remained fully invested in stock index funds through the market downturn, causing his portfolio to plummet. And he has no expectation of a quick turnaround. He thinks the recession will last until the end of 2009, with the economy contracting a severe 4 or 5 percent, and unemployment peaking at above 9 percent in 2010. Stocks have further to fall, he says, suggesting the Dow could bottom out around 7,000. He's encouraged by the incoming Obama administration's talk of a big stimulus package, though, and expresses confidence that Summers and Geithner will prove aggressive recession fighters. And though critics may dismiss Roubini as permanently dour, he says that's not necessarily so. 'Eventually, when we get out of this crisis, I'll be the first one to call the recovery,' he says. 'Then maybe I'll be called Dr. Boom.' In his view, alas, that name change could be a long time coming.
Why do you suppose he did that?

1 comment:

Mrs.Irene Query said...


God bless you Mum, I will not stop telling the world about your kindness in my life, I am a single mum with kids to look after. My name is Mrs.Rachel Alex, and I am from Singapore . A couple of weeks ago My friend visited me and along our discussion she told me about MRS.IRENE QUERY FINANCE, that they can help me out of my financial situation, I never believed cause I have spend so much money on different loan lenders who did nothing other than running away with my money. I have been in a financial mess for the pass 7 months now,She advised I give it a try so I mailed her and explain all about my financial situation to her, she therefore took me through the loan process and gave me a loan of $180,000.00 at a very low interest rate of 3% and today I am a proud business owner and can now take good care of my kids, If you must contact any firm to get any amount of loan you need with a low interest rate of 3% and better repayment schedule, please contact MRS.IRENE QUERY FINANCE via email{}