He's a contrarian in the sense that he fore caste the present economic meltdown a few years ago and was laughed at. Now he is in demand all over the world as his economic views have grabbed hold with some world governments. His name is Nouriel Roubini Professor of Economics at New York University.
This is worth a read for those interested in economics.
http://business.timesonline.co.uk/tol/b ... 014463.ece
Contrarian Economist
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Lon;1037385 wrote: He's a contrarian in the sense that he fore caste the present economic meltdown a few years ago and was laughed at. Now he is in demand all over the world as his economic views have grabbed hold with some world governments. His name is Nouriel Roubini Professor of Economics at New York University.
This is worth a read for those interested in economics.
http://business.timesonline.co.uk/tol/b ... 014463.ece
I'm sorry Lon, i read this with about as much conviction as i did when studying Nostradamus or the recent thread on Rhienhart.
When you have this kind of crisis anywhere in the world, be it war, famine or global economics, out the woodwork comes some 'messiah' who fore-told it before it happened.
We have our own government politicians currently admitting to the press that they saw the collapse of hedge funds and stock market crashes coming years ago.
Weather they should have acted upon it then, is another matter but i do feel that so called 'experts' like this are very quick to jump in after the event.
I could sit here and say that i knew there would be a train crash yesterday. I'd have a good chance of getting it right because i am betting on a probable outcome.
If the guy told us that on 3rd January 2010, an alien spaceship would land in the grounds of the pentagon, 4 yellow dwarves would alight from the craft offering banana's as a gift of peace whilst singing Jumping Jack Flash.......... I'd be really really impressed.
This is worth a read for those interested in economics.
http://business.timesonline.co.uk/tol/b ... 014463.ece
I'm sorry Lon, i read this with about as much conviction as i did when studying Nostradamus or the recent thread on Rhienhart.
When you have this kind of crisis anywhere in the world, be it war, famine or global economics, out the woodwork comes some 'messiah' who fore-told it before it happened.
We have our own government politicians currently admitting to the press that they saw the collapse of hedge funds and stock market crashes coming years ago.
Weather they should have acted upon it then, is another matter but i do feel that so called 'experts' like this are very quick to jump in after the event.
I could sit here and say that i knew there would be a train crash yesterday. I'd have a good chance of getting it right because i am betting on a probable outcome.
If the guy told us that on 3rd January 2010, an alien spaceship would land in the grounds of the pentagon, 4 yellow dwarves would alight from the craft offering banana's as a gift of peace whilst singing Jumping Jack Flash.......... I'd be really really impressed.
At the going down of the sun and in the morning, we will remember them. R.L. Binyon
Contrarian Economist
oscar;1037398 wrote: I'm sorry Lon, i read this with about as much conviction as i did when studying Nostradamus or the recent thread on Rhienhart.
When you have this kind of crisis anywhere in the world, be it war, famine or global economics, out the woodwork comes some 'messiah' who fore-told it before it happened.
We have our own government politicians currently admitting to the press that they saw the collapse of hedge funds and stock market crashes coming years ago.
Weather they should have acted upon it then, is another matter but i do feel that so called 'experts' like this are very quick to jump in after the event.
I could sit here and say that i knew there would be a train crash yesterday. I'd have a good chance of getting it right because i am betting on a probable outcome.
If the guy told us that on 3rd January 2010, an alien spaceship would land in the grounds of the pentagon, 4 yellow dwarves would alight from the craft offering banana's as a gift of peace whilst singing Jumping Jack Flash.......... I'd be really really impressed.
This guy didn't just surface. He was a advisor to the U.S. Treasury during the Clinton Administration. Also, there is a huge difference between the study of economics and the predictions of Nostradamus.
When you have this kind of crisis anywhere in the world, be it war, famine or global economics, out the woodwork comes some 'messiah' who fore-told it before it happened.
We have our own government politicians currently admitting to the press that they saw the collapse of hedge funds and stock market crashes coming years ago.
Weather they should have acted upon it then, is another matter but i do feel that so called 'experts' like this are very quick to jump in after the event.
I could sit here and say that i knew there would be a train crash yesterday. I'd have a good chance of getting it right because i am betting on a probable outcome.
If the guy told us that on 3rd January 2010, an alien spaceship would land in the grounds of the pentagon, 4 yellow dwarves would alight from the craft offering banana's as a gift of peace whilst singing Jumping Jack Flash.......... I'd be really really impressed.
This guy didn't just surface. He was a advisor to the U.S. Treasury during the Clinton Administration. Also, there is a huge difference between the study of economics and the predictions of Nostradamus.
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Lon;1037404 wrote: This guy didn't just surface. He was a advisor to the U.S. Treasury during the Clinton Administration. Also, there is a huge difference between the study of economics and the predictions of Nostradamus.
Yes i agree Lon but just like Rhienhardt, there seems to be suddenly an awful lot of these experts coming out now.
We have our own advisors to our government saying pretty much the same.
As i said, to make a prediction of this nature, is a probale event. A stock market for example, will go three ways, one, it'll collapse entirely, teo, it will remain bouyant, and three, it will prosper. He had a one in three probability of getting it right.
With the banking system, again, a probable event to predict. It could have gone two ways, one, the banks being bought out by the government as it was with ours and two, the banking system staying the same.
What would interest me is any predictions for long term, not just the next few years when even a layman can work out what's going to happen.
Yes i agree Lon but just like Rhienhardt, there seems to be suddenly an awful lot of these experts coming out now.
We have our own advisors to our government saying pretty much the same.
As i said, to make a prediction of this nature, is a probale event. A stock market for example, will go three ways, one, it'll collapse entirely, teo, it will remain bouyant, and three, it will prosper. He had a one in three probability of getting it right.
With the banking system, again, a probable event to predict. It could have gone two ways, one, the banks being bought out by the government as it was with ours and two, the banking system staying the same.
What would interest me is any predictions for long term, not just the next few years when even a layman can work out what's going to happen.
At the going down of the sun and in the morning, we will remember them. R.L. Binyon
Contrarian Economist
oscar;1037414 wrote: Yes i agree Lon but just like Rhienhardt, there seems to be suddenly an awful lot of these experts coming out now.
We have our own advisors to our government saying pretty much the same.
As i said, to make a prediction of this nature, is a probale event. A stock market for example, will go three ways, one, it'll collapse entirely, teo, it will remain bouyant, and three, it will prosper. He had a one in three probability of getting it right.
With the banking system, again, a probable event to predict. It could have gone two ways, one, the banks being bought out by the government as it was with ours and two, the banking system staying the same.
What would interest me is any predictions for long term, not just the next few years when even a layman can work out what's going to happen.
He made specific forecasts and named companies that would fail as well, not just that there would be a economic meltdown. No other economists or non economists made such specific predictions as this professor. He was a barer of bad news when no one wanted to hear bad news.
We have our own advisors to our government saying pretty much the same.
As i said, to make a prediction of this nature, is a probale event. A stock market for example, will go three ways, one, it'll collapse entirely, teo, it will remain bouyant, and three, it will prosper. He had a one in three probability of getting it right.
With the banking system, again, a probable event to predict. It could have gone two ways, one, the banks being bought out by the government as it was with ours and two, the banking system staying the same.
What would interest me is any predictions for long term, not just the next few years when even a layman can work out what's going to happen.
He made specific forecasts and named companies that would fail as well, not just that there would be a economic meltdown. No other economists or non economists made such specific predictions as this professor. He was a barer of bad news when no one wanted to hear bad news.
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Lon;1037421 wrote: He made specific forecasts and named companies that would fail as well, not just that there would be a economic meltdown. No other economists or non economists made such specific predictions as this professor. He was a barer of bad news when no one wanted to hear bad news.
So did he actually name fanny and her cronie's? As i have to admit, that is a little scarey.
Does he have any future predictions worth noting?? i.e. the assassination of Obama?
Sorry, no-one else likes to mention it here but it's a probable outcome, the same as any nutcase picking off a President.
I'd be very interested if you could get anything else on him.
For some-one who was asked to interperet Nostradamus (that was wierd), i have an interest in this kind of thing. I am also a realist so i like to weigh up probability with outcome.
So did he actually name fanny and her cronie's? As i have to admit, that is a little scarey.
Does he have any future predictions worth noting?? i.e. the assassination of Obama?
Sorry, no-one else likes to mention it here but it's a probable outcome, the same as any nutcase picking off a President.
I'd be very interested if you could get anything else on him.
For some-one who was asked to interperet Nostradamus (that was wierd), i have an interest in this kind of thing. I am also a realist so i like to weigh up probability with outcome.
At the going down of the sun and in the morning, we will remember them. R.L. Binyon
Contrarian Economist
Yes I have heard of him before, he did predict almost exactly what has happened, and he predicts that worse is to come. When he gave a speech at the IMF in 2006 he was essentially laughed off the stage by other economists, (who now all say they "knew" this was coming themselves). You see he had the unfortunate task of being a cassandra, of giving people hard but accurate news, when they are far too busy enjoying the good times to listen.
They are listening now though.
There is another academic who wrote a book called "The Black Swan" apparently he had also been warning for years that a complete systematic collapse was inevitable, and they laughed at him as well.
They are listening now though.
There is another academic who wrote a book called "The Black Swan" apparently he had also been warning for years that a complete systematic collapse was inevitable, and they laughed at him as well.
"We are never so happy, never so unhappy, as we imagine"
Le Rochefoucauld.
"A smack in the face settles all arguments, then you can move on kid."
My dad 1986.
Le Rochefoucauld.
"A smack in the face settles all arguments, then you can move on kid."
My dad 1986.
Contrarian Economist
Thee have been plenty of warning signs and plenty of people warning of what was going to happen. All it takes is an idle trawl through the internet to come up with dozens of articles. It was almost like challenging an article of faith to suggest anything might be wrong.
This current melt down is not a big surprise.
This current melt down is not a big surprise.
Contrarian Economist
I remember reading Will Hutton's "The State we are in" which is a very good book bascially explaining exactly what was wrong with Anglo-American capitalism, and the dangers that our nations were running by allowing the stock-market and high finance to run out of control and wiping the manufacturing base and the basis of real national wealth. I highly recommend it. It was certainly prophetic in many ways, of course many people dimissed Hutton as over pessimistic and too socialist or anti-business in his views, they ain't laughing now.
"We are never so happy, never so unhappy, as we imagine"
Le Rochefoucauld.
"A smack in the face settles all arguments, then you can move on kid."
My dad 1986.
Le Rochefoucauld.
"A smack in the face settles all arguments, then you can move on kid."
My dad 1986.
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Contrarian Economist
gmc;1037511 wrote: Thee have been plenty of warning signs and plenty of people warning of what was going to happen. All it takes is an idle trawl through the internet to come up with dozens of articles. It was almost like challenging an article of faith to suggest anything might be wrong.
This current melt down is not a big surprise.
So in fact gmc, you have just agreed with what i said in my first post
This current melt down is not a big surprise.
So in fact gmc, you have just agreed with what i said in my first post
At the going down of the sun and in the morning, we will remember them. R.L. Binyon
Contrarian Economist
oscar;1037453 wrote: So did he actually name fanny and her cronie's? As i have to admit, that is a little scarey.
Does he have any future predictions worth noting?? i.e. the assassination of Obama?
Sorry, no-one else likes to mention it here but it's a probable outcome, the same as any nutcase picking off a President.
I'd be very interested if you could get anything else on him.
For some-one who was asked to interperet Nostradamus (that was wierd), i have an interest in this kind of thing. I am also a realist so i like to weigh up probability with outcome.
http://pages.stern.nyu.edu/~nroubini/
Does he have any future predictions worth noting?? i.e. the assassination of Obama?
Sorry, no-one else likes to mention it here but it's a probable outcome, the same as any nutcase picking off a President.
I'd be very interested if you could get anything else on him.
For some-one who was asked to interperet Nostradamus (that was wierd), i have an interest in this kind of thing. I am also a realist so i like to weigh up probability with outcome.
http://pages.stern.nyu.edu/~nroubini/
Contrarian Economist
interesting article. Does he have any specific predictions for the future other than "I fear the worst is yet to come" ??