Sunday, August 27, 2006

Roubini Blog

Check out this blog by the economist Nouriel Roubini. He is cut from the same cloth as Paul Krugman, Ed Leamer, Robert Shiller, and Jim Hamilton. The general theme of the blog seems to be to get past all the feel-good spin and BS that the main stream media, NAR, Fed, etc. feeds the slumbering populace.


Anonymous Anonymous said...

Yeoouch, that sounds like big trouble ahead.
I just wanted to be able to buy a house.
I didn't want the whole economy to go into the toilet.
What have we gotten ourselves into?

Aug 28, 2006, 12:53:00 AM  
Blogger David said...

Roubini has been posting lots of solid information in the past month (while I have been following)!

Her is right on about his recession prediction

Aug 28, 2006, 10:30:00 AM  
Anonymous Anonymous said...

Hard to say he's right about anything until it all unfolds, but it certainly doesn't look promising.

Aug 28, 2006, 2:45:00 PM  
Blogger marinmaven said...

This is why I wasn't gleefully wanting to pop the bubble and teach those who bought into the bubble a harsh lesson. I knew that even a small correction can ripple throughout the economy and effect me who had nothing to do with the bubble. What is being described is not a small correction.
Much of the economic activity that the Bush administration has been pointing to has to do with this real estate boom. More people get exotic loans and use their houses as an atm to make home improvements. Financing creates more consumption which creates jobs. I long knew that this was a fragile house of cards.
America is in love with its unsustainable booms. We already see attempts to have Internet 2.0, a way to create another irrational exuberance for the Internet.
The answer is to create sustainable economies based on long term needs of the world -- renewable energy and resources, biotech, and local/region based economic ecosystems. We need to base our economy on real products that have real worth not speculative worth.

There are going to be a lot of people who will be economically ruined by this with heavy debt during a recession/job slow down and where new bankruptcy laws are harsh. There going to a lot of consumers cut off from being able to prop up the comsumer economy.

Housing prices will go down for sure, but a recession or even depression that will follow will not help make average people afford homes.

Always be careful what you wish for, you might just get that and more.

Aug 29, 2006, 8:27:00 AM  

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