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Someone is in our corner..

April 29th, 2010 · 3 Comments

Well, some notorious people seem to agree with us…
The one and only Dr.Doom..

  • Roubini says Greece can’t come up with the 10 percent spending reduction necessary to prevent its debt from exploding out of control. And even if it could, its economy would get ruined in the process, he maintains. Roubini compares Greece to Argentina in 2001, shortly before it defaulted on its debt. [Moneynews]

Here is our earlier take

Tags: Sovereign debt crisis

3 responses so far ↓

  • 1 kencooksam // Apr 29, 2010 at 4:22 pm

    Dr Doom has a poor track record of predicting events. Thus his handle Dr Doom. Well deserved based on his results.

  • 2 admin // Apr 29, 2010 at 8:48 pm

    Well, not quite. Without going through a systematic account of his predictions, this was the lone guy who predicted the US financial crisis years before it happened, and that was the reason he was nicknamed dr.Doom..

  • 3 satchmo // May 3, 2010 at 6:27 pm

    He was far from the lone guy. He got tons of credit afterwards, but many others described the collapse beforehand in with varying degrees of accuracy. Too many to list, but check in with the Austrian School, the Peak Oil movement and a range of other pundits who the mainstream just doesn’t acknoeldge, and you could have (like me) been well informed of major events such as: the real estate bubble and subsequent financial collapse, the systemic risks derivatives posed, skyrocketing oil and gold prices, plungin value of the USD (going back almost 10 years). Etc etc.

    Don’t mean to carry on, but Roubini has been held up as some lone renegade ahead of his time thinker since the collapse and I find him second rate to many many obscure pros who deserve his current speaking fees. Staying with economists of note, I’ll take Peter Schiff (or even his layman economist friend Ron Paul) over Roubini any day, and they both predicted huge chunks of todays economic landscape well in advance. As it happens, they were calling Schiff Dr. Doom before Roubini got his 15 minutes of fame as the moniker landed and stuck on him…