themackattack

Dr. Doom Responds on Wells Fargo

I'm going to have to agree with SKJ on this one...

and, if Nouriel want's to stray from the Macro to the micro in his calls, good for him...he's got more right and a better basis and track record to do so than you and a lot of others.

His explanation to you seems reasonable to me, while your counterpoints don't make a lot of sense. You point out that he says he "may or may not be right about Wells...", and then hold up his previous statement about Wells being a zombie bank as some sort of evidence that he is being contradictory. Well, sorry to tell you, those two statements are in no way contradictory, and adding qualifiers to his statements about individual banks doesn't make him disingenuous, it just means he is less certain of those assessments than he is of macro assessments made (which seems imminently reasonable, to me).