It's not entirely clear why Roubini's comments in Istanbul are getting so much play this morning, but here goes: "I see the risk of a correction, especially when the markets now realize that the recovery is not rapid and V-shaped, but more like U- shaped."
I'm not a Roubini apologist but he has a far better track record in anticipating the Great Recession, its structural characteristics and the challenges for employment gains than most or all his peers. Understanding much toxic debt remains on bank balance sheets and the dangers inherent in too big to fail doctrine, he also advocates substantive banking reform. So if you are going to listen to an economist, why not listen to somebody who has got it right?
David White: GS' latest economic forecast is just further evidence that GS' pump of X is a pump and dump scheme. Unemployed do not buy high ticket items
about 1 hour ago
David White: GS's latest economic forecast is in direct conflict with GS' conviction buy rating on X. US steel maker CEO's see moderate growth at best.
about 1 hour ago
Ralph F: Once again SLV is up more than GLD, DIA and SPY, capping a massive year in which it outperformed most other asset classes.
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